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

Piper Sandler Companies (NYSE:PIPR)’s share price dropped 1.4% on Tuesday . The stock traded as low as $293.09 and last traded at $297.24. Approximately 150,516 shares traded hands during trading, an increase of 86% from the average daily volume of 80,976 shares. The stock had previously closed at $301.43.

Wall Street Analyst Weigh In

PIPR has been the topic of several research analyst reports. StockNews.com cut Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Tuesday. The Goldman Sachs Group downgraded Piper Sandler Companies from a “buy” rating to a “neutral” rating and set a $317.00 price target on the stock. in a research report on Monday. Finally, JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, September 17th.

Piper Sandler Companies Stock Down 1.0 %

The stock has a market capitalization of $5.24 billion, a P/E ratio of 31.47 and a beta of 1.46. The stock’s 50 day moving average price is $309.88 and its 200-day moving average price is $310.45.

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

Piper Sandler Companies Dividend Announcement

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Oliver Luxxe Assets LLC increased its position in shares of Piper Sandler Companies by 5.7% in the 4th quarter. Oliver Luxxe Assets LLC now owns 11,838 shares of the financial services provider’s stock valued at $3,551,000 after acquiring an additional 636 shares during the period. Modus Advisors LLC purchased a new position in shares of Piper Sandler Companies in the fourth quarter worth about $404,000. GAMMA Investing LLC boosted its position in shares of Piper Sandler Companies by 27.6% during the 4th quarter. GAMMA Investing LLC now owns 277 shares of the financial services provider’s stock valued at $83,000 after acquiring an additional 60 shares during the last quarter. Tidal Investments LLC lifted its stake in shares of Piper Sandler Companies by 75.7% in the 3rd quarter. Tidal Investments LLC now owns 6,104 shares of the financial services provider’s stock valued at $1,732,000 after purchasing an additional 2,629 shares during the last quarter. Finally, Arete Wealth Advisors LLC purchased a new position in shares of Piper Sandler Companies during the third quarter worth $310,000. 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.