Piper Sandler Companies (NYSE:PIPR) Reaches New 52-Week High – What’s Next?

Piper Sandler Companies (NYSE:PIPR)’s share price hit a new 52-week high on Thursday . The company traded as high as $376.41 and last traded at $376.13, with a volume of 71534 shares changing hands. The stock had previously closed at $360.96.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PIPR. Wolfe Research reissued an “outperform” rating and set a $398.00 price target on shares of Piper Sandler Companies in a research note on Wednesday, January 7th. Zacks Research lowered shares of Piper Sandler Companies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 30th. Wall Street Zen raised shares of Piper Sandler Companies from a “hold” rating to a “buy” rating in a research note on Sunday, October 12th. Weiss Ratings reissued a “hold (c)” rating on shares of Piper Sandler Companies in a research note on Wednesday, October 8th. Finally, The Goldman Sachs Group upgraded shares of Piper Sandler Companies from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $368.00 to $386.00 in a report on Monday, November 10th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $392.00.

Piper Sandler Companies Trading Up 3.8%

The stock has a 50-day simple moving average of $343.22 and a two-hundred day simple moving average of $333.40. The firm has a market capitalization of $6.63 billion, a P/E ratio of 28.21 and a beta of 1.54.

Piper Sandler Companies (NYSE:PIPR) last posted its earnings results on Friday, October 31st. The financial services provider reported $3.82 EPS for the quarter, beating analysts’ consensus estimates of $2.96 by $0.86. Piper Sandler Companies had a net margin of 13.73% and a return on equity of 19.91%. The business had revenue of $455.31 million for the quarter, compared to the consensus estimate of $408.40 million. During the same quarter last year, the firm posted $2.57 EPS. The company’s revenue for the quarter was up 33.3% on a year-over-year basis. As a group, research analysts expect that Piper Sandler Companies will post 14.14 EPS for the current year.

Piper Sandler Companies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Tuesday, November 25th were issued a $0.70 dividend. The ex-dividend date was Tuesday, November 25th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.7%. Piper Sandler Companies’s dividend payout ratio (DPR) is currently 21.10%.

Insider Buying and Selling

In related news, CFO Katherine Patricia Clune sold 1,367 shares of the firm’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $324.69, for a total transaction of $443,851.23. Following the sale, the chief financial officer owned 10,425 shares of the company’s stock, valued at $3,384,893.25. This trade represents a 11.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Chad R. Abraham sold 3,000 shares of the business’s stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $336.21, for a total transaction of $1,008,630.00. Following the completion of the transaction, the chief executive officer owned 53,558 shares of the company’s stock, valued at $18,006,735.18. This represents a 5.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 11,267 shares of company stock worth $3,763,746 in the last three months. 2.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Piper Sandler Companies

A number of large investors have recently made changes to their positions in the stock. CENTRAL TRUST Co purchased a new stake in Piper Sandler Companies during the 2nd quarter valued at about $28,000. Twin Peaks Wealth Advisors LLC acquired a new position in Piper Sandler Companies in the 2nd quarter worth approximately $31,000. Whittier Trust Co. purchased a new position in Piper Sandler Companies during the 3rd quarter worth approximately $31,000. AdvisorNet Financial Inc lifted its stake in Piper Sandler Companies by 48.1% during the 2nd quarter. AdvisorNet Financial Inc now owns 114 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 37 shares during the period. Finally, Danske Bank A S acquired a new stake in Piper Sandler Companies during the 3rd quarter valued at approximately $35,000. 72.79% of the stock is owned by hedge funds and other institutional investors.

Piper Sandler Companies Company Profile

Piper Sandler Companies is a leading investment bank and asset management firm headquartered in Minneapolis, Minnesota. The company offers a comprehensive suite of financial services, including investment banking, institutional brokerage, public finance, and equity research. Its investment banking division advises corporate and government clients on mergers and acquisitions, capital raises, and debt financings, while its institutional brokerage arm provides trade execution and market-making services across equities and fixed income markets.

Founded through the legacy of Piper Jaffray & Co and strengthened by the 2020 combination with Sandler O’Neill & Partners, Piper Sandler traces its roots back to the late 19th century.