Piper Sandler Companies (NYSE:PIPR) Shares Down 1.7% – What’s Next?

Piper Sandler Companies (NYSE:PIPR)’s stock price dropped 1.7% on Tuesday . The stock traded as low as $342.00 and last traded at $342.80. Approximately 54,612 shares traded hands during trading, a decline of 53% from the average daily volume of 117,434 shares. The stock had previously closed at $348.81.

Analyst Upgrades and Downgrades

PIPR has been the subject of several recent research reports. JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, September 17th. StockNews.com lowered shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Monday, October 28th.

Piper Sandler Companies Trading Down 1.7 %

The company has a market cap of $6.10 billion, a PE ratio of 36.65 and a beta of 1.39. The firm’s fifty day moving average is $317.71 and its 200 day moving average is $292.04.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings results on Friday, October 25th. The financial services provider reported $2.57 EPS for the quarter, topping the consensus estimate of $2.53 by $0.04. The company had revenue of $359.57 million during the quarter, compared to analyst estimates of $365.07 million. Piper Sandler Companies had a net margin of 10.84% and a return on equity of 16.06%. As a group, sell-side analysts anticipate that Piper Sandler Companies will post 11.49 EPS for the current fiscal year.

Piper Sandler Companies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 22nd will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend is Friday, November 22nd. Piper Sandler Companies’s payout ratio is presently 27.78%.

Institutional Investors Weigh In On Piper Sandler Companies

A number of large investors have recently modified their holdings of PIPR. Russell Investments Group Ltd. grew its holdings in shares of Piper Sandler Companies by 1,473.3% during the first quarter. Russell Investments Group Ltd. now owns 1,416 shares of the financial services provider’s stock worth $281,000 after buying an additional 1,326 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in shares of Piper Sandler Companies by 6.5% during the first quarter. CANADA LIFE ASSURANCE Co now owns 14,117 shares of the financial services provider’s stock worth $2,798,000 after buying an additional 860 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Piper Sandler Companies by 6.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,751 shares of the financial services provider’s stock worth $2,135,000 after buying an additional 638 shares in the last quarter. Comerica Bank boosted its position in shares of Piper Sandler Companies by 7.0% during the 1st quarter. Comerica Bank now owns 8,819 shares of the financial services provider’s stock valued at $1,751,000 after acquiring an additional 575 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its position in shares of Piper Sandler Companies by 11.1% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 4,954 shares of the financial services provider’s stock valued at $1,140,000 after acquiring an additional 494 shares during the last quarter. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Company Profile

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.