Piper Sandler Companies (NYSE:PIPR) Downgraded to “Hold” Rating by StockNews.com

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

PIPR has been the topic of several other research reports. The Goldman Sachs Group lowered shares of Piper Sandler Companies from a “buy” rating to a “neutral” rating and set a $317.00 target price on the stock. in a report 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 Down 1.4 %

PIPR opened at $297.20 on Tuesday. The business’s fifty day simple moving average is $311.43 and its 200 day simple moving average is $310.66. Piper Sandler Companies has a 52 week low of $162.50 and a 52 week high of $351.80. The stock has a market cap of $5.28 billion, a PE ratio of 31.75 and a beta of 1.46.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings data on Friday, October 25th. The financial services provider reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.04. The company had revenue of $359.57 million for the quarter, compared to analysts’ expectations of $365.07 million. Piper Sandler Companies had a return on equity of 16.06% and a net margin of 10.84%. As a group, equities analysts anticipate that Piper Sandler Companies will post 11.49 earnings per share for the current year.

Piper Sandler Companies Dividend Announcement

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

Institutional Trading of Piper Sandler Companies

Large investors have recently modified their holdings of the business. Commonwealth Equity Services LLC boosted its stake in shares of Piper Sandler Companies by 2.4% during the 2nd quarter. Commonwealth Equity Services LLC now owns 2,340 shares of the financial services provider’s stock valued at $539,000 after purchasing an additional 54 shares in the last quarter. TD Asset Management Inc purchased a new position in shares of Piper Sandler Companies during the 2nd quarter worth approximately $483,000. Victory Capital Management Inc. raised its position in shares of Piper Sandler Companies by 74.7% in the 2nd quarter. Victory Capital Management Inc. now owns 13,176 shares of the financial services provider’s stock worth $3,033,000 after acquiring an additional 5,636 shares in the last quarter. Arizona State Retirement System lifted its stake in shares of Piper Sandler Companies by 1.7% in the 2nd quarter. Arizona State Retirement System now owns 4,950 shares of the financial services provider’s stock valued at $1,139,000 after purchasing an additional 83 shares during the period. Finally, Quest Partners LLC boosted its position in shares of Piper Sandler Companies by 531.8% during the second quarter. Quest Partners LLC now owns 6,710 shares of the financial services provider’s stock valued at $1,544,000 after purchasing an additional 5,648 shares in the last quarter. 72.79% of the stock is owned by institutional investors.

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.