Piper Sandler Companies (NYSE:PIPR) Trading Up 4% – Still a Buy?

Piper Sandler Companies (NYSE:PIPR) shares were up 4% during trading on Tuesday . The company traded as high as $288.47 and last traded at $309.33. Approximately 154,087 shares traded hands during trading, an increase of 71% from the average daily volume of 90,364 shares. The stock had previously closed at $297.52.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PIPR. The Goldman Sachs Group boosted their target price on Piper Sandler Companies from $298.00 to $330.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a report on Monday, February 3rd. Finally, StockNews.com cut shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th.

Piper Sandler Companies Stock Performance

The company has a 50-day moving average of $308.44 and a 200-day moving average of $315.02. The stock has a market cap of $5.50 billion, a price-to-earnings ratio of 30.27 and a beta of 1.46.

Piper Sandler Companies (NYSE:PIPR) last announced its earnings results on Friday, January 31st. The financial services provider reported $4.80 earnings per share for the quarter, beating the consensus estimate of $3.99 by $0.81. Piper Sandler Companies had a return on equity of 17.00% and a net margin of 11.87%. During the same period in the prior year, the company posted $4.03 EPS. As a group, equities research analysts forecast that Piper Sandler Companies will post 14.14 EPS for the current year.

Piper Sandler Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders 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 yield of 0.84%. Piper Sandler Companies’s dividend payout ratio is currently 25.44%.

Institutional Trading of Piper Sandler Companies

Several hedge funds and other institutional investors have recently made changes to their positions in PIPR. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Piper Sandler Companies by 26.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 44,146 shares of the financial services provider’s stock valued at $13,242,000 after purchasing an additional 9,141 shares during the period. Vident Advisory LLC lifted its holdings in shares of Piper Sandler Companies by 7.1% in the 4th quarter. Vident Advisory LLC now owns 15,765 shares of the financial services provider’s stock valued at $4,729,000 after buying an additional 1,040 shares during the period. Systematic Financial Management LP boosted its stake in shares of Piper Sandler Companies by 1.8% in the fourth quarter. Systematic Financial Management LP now owns 199,842 shares of the financial services provider’s stock valued at $59,943,000 after buying an additional 3,500 shares in the last quarter. ProShare Advisors LLC grew its holdings in Piper Sandler Companies by 44.8% during the fourth quarter. ProShare Advisors LLC now owns 5,204 shares of the financial services provider’s stock worth $1,561,000 after acquiring an additional 1,611 shares during the period. Finally, Quantinno Capital Management LP raised its position in Piper Sandler Companies by 3.3% in the fourth quarter. Quantinno Capital Management LP now owns 2,730 shares of the financial services provider’s stock worth $819,000 after acquiring an additional 88 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 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.