Piper Sandler Companies (NYSE:PIPR) Receives $389.67 Consensus Target Price from Analysts

Shares of Piper Sandler Companies (NYSE:PIPR) have been given an average recommendation of “Moderate Buy” by the seven brokerages that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $379.75.

A number of research analysts recently commented on the company. Northland Securities upgraded Piper Sandler Companies from a “market perform” rating to an “outperform” rating and set a $350.00 price objective on the stock in a report on Wednesday, March 4th. Wolfe Research restated an “outperform” rating and issued a $398.00 target price on shares of Piper Sandler Companies in a research report on Wednesday, January 7th. Zacks Research raised Piper Sandler Companies from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 10th. The Goldman Sachs Group upgraded Piper Sandler Companies from a “neutral” rating to a “buy” rating and increased their price target for the stock from $368.00 to $386.00 in a report on Monday, November 10th. Finally, Wall Street Zen raised Piper Sandler Companies from a “hold” rating to a “buy” rating in a research report on Tuesday, February 24th.

Insider Buying and Selling at Piper Sandler Companies

In related news, President Debbra L. Schoneman sold 5,240 shares of the stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $350.99, for a total transaction of $1,839,187.60. Following the completion of the transaction, the president owned 2,896 shares of the company’s stock, valued at approximately $1,016,467.04. This trade represents a 64.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PIPR. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in shares of Piper Sandler Companies by 63.0% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 24,084 shares of the company’s stock valued at $8,357,000 after buying an additional 9,305 shares during the period. American Century Companies Inc. grew its position in shares of Piper Sandler Companies by 1,155.7% during the second quarter. American Century Companies Inc. now owns 200,149 shares of the company’s stock worth $55,630,000 after buying an additional 184,210 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Piper Sandler Companies by 1.0% during the second quarter. JPMorgan Chase & Co. now owns 290,357 shares of the company’s stock worth $80,702,000 after buying an additional 2,839 shares during the period. Calamos Advisors LLC raised its holdings in Piper Sandler Companies by 93.7% in the third quarter. Calamos Advisors LLC now owns 6,147 shares of the company’s stock valued at $2,133,000 after acquiring an additional 2,973 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in Piper Sandler Companies by 5.7% in the second quarter. Envestnet Asset Management Inc. now owns 82,549 shares of the company’s stock worth $22,944,000 after acquiring an additional 4,421 shares during the last quarter. 72.79% of the stock is currently owned by institutional investors and hedge funds.

Piper Sandler Companies Trading Down 5.0%

NYSE:PIPR traded down $14.77 during trading hours on Monday, hitting $278.75. The company had a trading volume of 41,503 shares, compared to its average volume of 168,083. Piper Sandler Companies has a 1 year low of $202.91 and a 1 year high of $380.26. The company has a market cap of $4.97 billion, a P/E ratio of 17.63, a P/E/G ratio of 1.62 and a beta of 1.54. The company has a 50-day moving average of $340.75 and a 200 day moving average of $339.21.

Piper Sandler Companies’s stock is set to split on the morning of Tuesday, March 24th. The 4-1 split was announced on Friday, February 6th. The newly minted shares will be issued to shareholders after the closing bell on Monday, March 23rd.

Piper Sandler Companies (NYSE:PIPR) last issued its earnings results on Friday, February 6th. The company reported $6.88 EPS for the quarter, topping analysts’ consensus estimates of $4.72 by $2.16. Piper Sandler Companies had a net margin of 14.77% and a return on equity of 21.85%. The company had revenue of $635.00 million for the quarter, compared to the consensus estimate of $516.52 million. During the same period in the previous year, the firm earned $4.80 earnings per share. Piper Sandler Companies’s quarterly revenue was up 27.4% compared to the same quarter last year.

Piper Sandler Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Tuesday, March 3rd will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Tuesday, March 3rd. Piper Sandler Companies’s dividend payout ratio is currently 17.71%.

Piper Sandler Companies Company Profile

Piper Sandler Companies (NYSE: PIPR) is an investment bank and institutional securities firm that provides a range of capital markets and advisory services to corporations, institutions, municipalities and high-net-worth individuals. The firm’s core activities include investment banking and M&A advisory, underwriting and distribution of equity and debt securities, public finance, and sector-focused advisory across industries such as healthcare, energy, financial services and technology.

In addition to traditional investment banking, Piper Sandler offers equity and fixed income research, institutional sales and trading, and market-making services.