Piper Sandler Companies (NYSE:PIPR) Stock Price Down 1.4% – What’s Next?

Piper Sandler Companies (NYSE:PIPR) shares were down 1.4% during trading on Tuesday . The company traded as low as $293.09 and last traded at $297.24. Approximately 150,516 shares were traded during mid-day trading, an increase of 86% from the average daily volume of 80,976 shares. The stock had previously closed at $301.43.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a research note on Tuesday, September 17th. StockNews.com downgraded shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, The Goldman Sachs Group cut shares of Piper Sandler Companies from a “buy” rating to a “neutral” rating and set a $317.00 price target for the company. in a research report on Monday.

Piper Sandler Companies Price Performance

The firm has a market capitalization of $5.24 billion, a P/E ratio of 31.47 and a beta of 1.46. The firm’s 50 day moving average is $309.88 and its two-hundred day moving average is $310.45.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings data on Friday, October 25th. The financial services provider reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.04. The company had revenue of $359.57 million for 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%. Analysts anticipate that Piper Sandler Companies will post 11.49 EPS for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 22nd were paid a $0.65 dividend. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $2.60 dividend on an annualized basis and a yield of 0.88%. Piper Sandler Companies’s dividend payout ratio (DPR) is currently 27.78%.

Institutional Trading of Piper Sandler Companies

Several hedge funds have recently added to or reduced their stakes in the company. Cerity Partners LLC boosted its stake 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 valued at $4,558,000 after buying an additional 2,819 shares during the period. Charles Schwab Investment Management Inc. lifted its position 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 valued at $58,245,000 after acquiring an additional 2,689 shares during the period. Barclays PLC grew 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 worth $9,174,000 after purchasing an additional 24,388 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Piper Sandler Companies in the third quarter worth $624,000. Finally, Citigroup Inc. raised its stake in Piper Sandler Companies by 63.4% in the third quarter. Citigroup Inc. now owns 21,496 shares of the financial services provider’s stock valued at $6,101,000 after purchasing an additional 8,337 shares in the last quarter. 72.79% of the stock is owned by institutional investors and hedge funds.

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.