Piper Sandler Companies (NYSE:PIPR) Receives $95.06 Average Price Target from Brokerages

Piper Sandler Companies (NYSE:PIPR) has received an average rating of “Hold” from the six analysts that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $95.0625.

A number of research firms recently weighed in on PIPR. Wall Street Zen lowered shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. The Goldman Sachs Group reissued a “buy” rating and issued a $97.00 price target on shares of Piper Sandler Companies in a report on Tuesday, April 14th. Weiss Ratings restated a “hold (c+)” rating on shares of Piper Sandler Companies in a research report on Wednesday, May 20th. Finally, Zacks Research cut shares of Piper Sandler Companies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 7th.

Piper Sandler Companies Stock Down 0.0%

Shares of NYSE PIPR opened at $75.78 on Thursday. The business has a 50-day simple moving average of $76.60 and a two-hundred day simple moving average of $79.95. Piper Sandler Companies has a 52 week low of $68.70 and a 52 week high of $95.07. The company has a market cap of $5.38 billion, a P/E ratio of 17.56, a P/E/G ratio of 1.55 and a beta of 1.43.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings results on Thursday, July 30th. The company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.16. Piper Sandler Companies had a net margin of 14.51% and a return on equity of 22.04%. The firm had revenue of $491.14 million for the quarter, compared to the consensus estimate of $445.28 million. During the same period in the prior year, the firm posted $2.92 earnings per share. The company’s revenue for the quarter was up 24.9% on a year-over-year basis. Equities research analysts anticipate that Piper Sandler Companies will post 4.56 EPS for the current year.

Piper Sandler Companies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 28th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, August 28th. Piper Sandler Companies’s payout ratio is presently 18.52%.

Institutional Trading of Piper Sandler Companies

Several institutional investors and hedge funds have recently modified their holdings of the business. AQR Capital Management LLC increased its position in shares of Piper Sandler Companies by 20.7% in the first quarter. AQR Capital Management LLC now owns 5,572 shares of the company’s stock worth $1,380,000 after purchasing an additional 956 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in 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 valued at $2,563,000 after purchasing an additional 473 shares during the last quarter. United Services Automobile Association bought a new stake in Piper Sandler Companies during the first quarter valued at approximately $247,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Piper Sandler Companies by 0.4% in the 1st 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 buying an additional 177 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its stake in Piper Sandler Companies by 46.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 170 shares of the company’s stock worth $42,000 after buying an additional 54 shares in the last quarter. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Company Profile

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.