Piper Sandler Companies (NYSE:PIPR) Receives $389.67 Consensus Target Price from Brokerages

Piper Sandler Companies (NYSE:PIPR) has earned an average rating of “Moderate Buy” from the seven analysts that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $379.75.

A number of analysts have weighed in on PIPR shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Piper Sandler Companies in a research note on Friday, January 23rd. Northland Securities raised Piper Sandler Companies from a “market perform” rating to an “outperform” rating and set a $350.00 price objective on the stock in a report on Wednesday. The Goldman Sachs Group upgraded Piper Sandler Companies from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $368.00 to $386.00 in a research report on Monday, November 10th. Wall Street Zen raised Piper Sandler Companies from a “hold” rating to a “buy” rating in a report on Tuesday, February 24th. Finally, Wolfe Research reiterated an “outperform” rating and issued a $398.00 target price on shares of Piper Sandler Companies in a research report on Wednesday, January 7th.

Insider Transactions at Piper Sandler Companies

In other news, President Debbra L. Schoneman sold 5,240 shares of the firm’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $350.99, for a total transaction of $1,839,187.60. Following the completion of the transaction, the president owned 2,896 shares of the company’s stock, valued at approximately $1,016,467.04. This trade represents a 64.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.70% of the company’s stock.

Institutional Trading of Piper Sandler Companies

Institutional investors and hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC grew its position in shares of Piper Sandler Companies by 20.7% in the 1st quarter. AQR Capital Management LLC now owns 5,572 shares of the company’s stock valued at $1,380,000 after buying an additional 956 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Piper Sandler Companies by 4.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,349 shares of the company’s stock worth $2,563,000 after acquiring an additional 473 shares during the last quarter. United Services Automobile Association acquired a new position in shares of Piper Sandler Companies in the first quarter worth approximately $247,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Piper Sandler Companies by 0.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 44,323 shares of the company’s stock worth $10,977,000 after acquiring an additional 177 shares during the period. Finally, Geneos Wealth Management Inc. boosted its holdings in Piper Sandler Companies by 46.6% in the first quarter. Geneos Wealth Management Inc. now owns 170 shares of the company’s stock valued at $42,000 after acquiring an additional 54 shares during the last quarter. 72.79% of the stock is currently owned by institutional investors and hedge funds.

Piper Sandler Companies Stock Performance

NYSE:PIPR opened at $293.65 on Monday. The stock has a 50-day simple moving average of $340.75 and a 200 day simple moving average of $339.06. The company has a market cap of $5.23 billion, a PE ratio of 18.57, a PEG ratio of 1.66 and a beta of 1.54. Piper Sandler Companies has a 52-week low of $202.91 and a 52-week high of $380.26.

Piper Sandler Companies shares are scheduled to split before the market opens on Tuesday, March 24th. The 4-1 split was announced on Friday, February 6th. The newly created shares will be payable to shareholders after the market closes on Monday, March 23rd.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings results on Friday, February 6th. The company reported $6.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.72 by $2.16. The company had revenue of $635.00 million for the quarter, compared to analyst estimates of $516.52 million. Piper Sandler Companies had a net margin of 14.77% and a return on equity of 21.85%. The firm’s revenue was up 27.4% on a year-over-year basis. During the same period in the previous year, the firm posted $4.80 EPS.

Piper Sandler Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Tuesday, March 3rd will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Tuesday, March 3rd. Piper Sandler Companies’s dividend payout ratio (DPR) is 17.71%.

About Piper Sandler Companies

Piper Sandler Companies (NYSE: PIPR) is an investment bank and institutional securities firm that provides a range of capital markets and advisory services to corporations, institutions, municipalities and high-net-worth individuals. The firm’s core activities include investment banking and M&A advisory, underwriting and distribution of equity and debt securities, public finance, and sector-focused advisory across industries such as healthcare, energy, financial services and technology.

In addition to traditional investment banking, Piper Sandler offers equity and fixed income research, institutional sales and trading, and market-making services.