Piper Sandler Companies (NYSE:PIPR) Price Target Raised to $330.00

Piper Sandler Companies (NYSE:PIPR) had its target price upped by The Goldman Sachs Group from $298.00 to $330.00 in a research note published on Monday morning,Benzinga reports. The firm currently has a neutral rating on the financial services provider’s stock.

PIPR has been the topic of a number of other research reports. StockNews.com lowered shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a research report on Monday.

Piper Sandler Companies Trading Up 1.0 %

PIPR stock opened at $319.81 on Monday. Piper Sandler Companies has a 1-year low of $177.80 and a 1-year high of $351.80. The business’s 50 day simple moving average is $302.86 and its 200 day simple moving average is $314.09. The firm has a market capitalization of $5.69 billion, a PE ratio of 31.29 and a beta of 1.46.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings data on Friday, January 31st. The financial services provider reported $4.80 EPS for the quarter, topping analysts’ consensus estimates 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 in the previous year, the business earned $4.03 earnings per share. As a group, sell-side analysts predict that Piper Sandler Companies will post 13.47 EPS for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be paid a $0.65 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $2.60 annualized dividend and a dividend yield of 0.81%. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 25.44%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. FMR LLC raised its stake in Piper Sandler Companies by 49.0% in the third quarter. FMR LLC now owns 625,048 shares of the financial services provider’s stock valued at $177,395,000 after purchasing an additional 205,584 shares in the last quarter. Fred Alger Management LLC bought a new position in Piper Sandler Companies in the 3rd quarter valued at about $14,645,000. Barclays PLC raised its position in shares of Piper Sandler Companies by 307.2% in the 3rd quarter. Barclays PLC now owns 32,328 shares of the financial services provider’s stock valued at $9,174,000 after buying an additional 24,388 shares in the last quarter. Philadelphia Financial Management of San Francisco LLC bought a new stake in shares of Piper Sandler Companies during the 3rd quarter worth approximately $6,106,000. Finally, Van ECK Associates Corp acquired a new stake in shares of Piper Sandler Companies during the 4th quarter worth approximately $4,275,000. 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.