JMP Securities Reaffirms “Market Perform” Rating for Piper Sandler Companies (NYSE:PIPR)

Piper Sandler Companies (NYSE:PIPR)‘s stock had its “market perform” rating restated by equities research analysts at JMP Securities in a research report issued to clients and investors on Monday,Benzinga reports.

Several other research analysts have also commented on the company. StockNews.com lowered Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. The Goldman Sachs Group downgraded shares of Piper Sandler Companies from a “buy” rating to a “neutral” rating and set a $317.00 price objective on the stock. in a research report on Monday, January 6th.

Piper Sandler Companies Stock Up 1.0 %

Shares of PIPR opened at $319.81 on Monday. The company has a market capitalization of $5.69 billion, a price-to-earnings ratio of 31.29 and a beta of 1.46. Piper Sandler Companies has a 52-week low of $177.80 and a 52-week high of $351.80. The stock has a 50 day moving average price of $302.86 and a 200 day moving average price of $314.09.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings results on Friday, January 31st. The financial services provider reported $4.80 EPS for the quarter, topping the consensus estimate of $3.99 by $0.81. Piper Sandler Companies had a net margin of 11.87% and a return on equity of 17.00%. During the same quarter last year, the company posted $4.03 EPS. On average, equities analysts anticipate that Piper Sandler Companies will post 13.47 EPS for the current fiscal year.

Institutional Investors Weigh In On Piper Sandler Companies

A number of institutional investors have recently added to or reduced their stakes in the business. State Street Corp grew its holdings in Piper Sandler Companies by 0.3% during the third quarter. State Street Corp now owns 682,430 shares of the financial services provider’s stock worth $193,680,000 after acquiring an additional 2,137 shares during the period. FMR LLC boosted its position in shares of Piper Sandler Companies by 49.0% during the 3rd quarter. FMR LLC now owns 625,048 shares of the financial services provider’s stock worth $177,395,000 after purchasing an additional 205,584 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Piper Sandler Companies by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 377,586 shares of the financial services provider’s stock worth $107,184,000 after purchasing an additional 7,344 shares during the period. Stephens Investment Management Group LLC increased its holdings in shares of Piper Sandler Companies by 3.4% in the 4th quarter. Stephens Investment Management Group LLC now owns 214,554 shares of the financial services provider’s stock valued at $64,355,000 after purchasing an additional 6,970 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Piper Sandler Companies by 1.3% in 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 purchasing an additional 2,689 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.