Piper Sandler Companies (NYSE:PIPR) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of Piper Sandler Companies (NYSE:PIPR) from a buy rating to a hold rating in a research report sent to investors on Tuesday.

Several other research analysts have also commented on the stock. The Goldman Sachs Group lowered shares of Piper Sandler Companies from a “buy” rating to a “neutral” rating and set a $317.00 price objective for the company. in a research note on Monday. JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a research note on Tuesday, September 17th.

Piper Sandler Companies Stock Up 0.9 %

Shares of NYSE:PIPR opened at $297.58 on Tuesday. The stock has a market capitalization of $5.29 billion, a P/E ratio of 31.79 and a beta of 1.46. Piper Sandler Companies has a 52 week low of $162.50 and a 52 week high of $351.80. The firm has a fifty day simple moving average of $308.41 and a two-hundred day simple moving average of $310.64.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings data on Friday, October 25th. The financial services provider reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.04. The business had revenue of $359.57 million during the quarter, compared to analyst estimates of $365.07 million. Piper Sandler Companies had a return on equity of 16.06% and a net margin of 10.84%. On average, analysts expect that Piper Sandler Companies will post 11.49 earnings per share for the current year.

Piper Sandler Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 22nd were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date was Friday, November 22nd. Piper Sandler Companies’s payout ratio is currently 27.78%.

Institutional Trading of Piper Sandler Companies

Hedge funds and other institutional investors have recently bought and sold shares of the business. Cerity Partners LLC grew its holdings in shares of Piper Sandler Companies by 21.3% in the third quarter. Cerity Partners LLC now owns 16,060 shares of the financial services provider’s stock worth $4,558,000 after purchasing an additional 2,819 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Piper Sandler Companies by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 205,226 shares of the financial services provider’s stock worth $58,245,000 after acquiring an additional 2,689 shares in the last quarter. Barclays PLC lifted its holdings in shares of Piper Sandler Companies by 307.2% during the 3rd quarter. Barclays PLC now owns 32,328 shares of the financial services provider’s stock valued at $9,174,000 after purchasing an additional 24,388 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Piper Sandler Companies in the third quarter valued at about $624,000. Finally, Citigroup Inc. boosted its stake in Piper Sandler Companies by 63.4% in the 3rd quarter. Citigroup Inc. now owns 21,496 shares of the financial services provider’s stock worth $6,101,000 after purchasing an additional 8,337 shares in the last quarter. Hedge funds and other institutional investors own 72.79% of the company’s stock.

About Piper Sandler Companies

Piper Sandler Companies operates as an investment bank and institutional securities firm that serves corporations, private equity groups, public entities, non-profit entities, and institutional investors in the United States and internationally. It offers investment banking services and institutional sales, trading, and research services for various equity and fixed income products; advisory services, such as mergers and acquisitions, equity and debt private placements, and debt and restructuring advisory; raises capital through equity and debt financings; underwrites municipal issuances; and municipal financial advisory and loan placement services, as well as various over-the-counter derivative products.