Piper Sandler Companies (NYSE:PIPR) Stock Has Average Target Price of $84.00

Shares of Piper Sandler Companies (NYSE:PIPR) have received a consensus rating of “Hold” from the six brokerages that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, one has issued 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 $84.00.

A number of equities research analysts recently issued reports on the company. The Goldman Sachs Group set a $80.00 price objective on Piper Sandler Companies and gave the company a “buy” rating in a research note on Thursday, October 1st. Zacks Research lowered shares of Piper Sandler Companies from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 13th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Piper Sandler Companies in a research note on Monday, August 17th. Finally, Bank of America restated an “underperform” rating and set a $69.00 price target on shares of Piper Sandler Companies in a research note on Tuesday, November 3rd.

Insider Activity

In other news, President Debbra Schoneman sold 39,708 shares of the firm’s stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $67.38, for a total value of $2,675,525.04. Following the completion of the transaction, the president directly owned 11,752 shares of the company’s stock, valued at $791,849.76. This trade represents a 77.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Fisher Asset Management LLC lifted its holdings in shares of Piper Sandler Companies by 1.3% in the third quarter. Fisher Asset Management LLC now owns 1,075,352 shares of the company’s stock worth $70,941,000 after buying an additional 13,813 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Piper Sandler Companies by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 573,217 shares of the company’s stock worth $41,466,000 after acquiring an additional 2,967 shares during the period. Greenwich Wealth Management LLC increased its holdings in Piper Sandler Companies by 1.0% during the 2nd quarter. Greenwich Wealth Management LLC now owns 420,805 shares of the company’s stock worth $30,441,000 after acquiring an additional 4,036 shares during the period. Bessemer Group Inc. lifted its stake in Piper Sandler Companies by 3.3% in the 3rd quarter. Bessemer Group Inc. now owns 227,409 shares of the company’s stock worth $15,003,000 after purchasing an additional 7,160 shares in the last quarter. Finally, Wellington Management Group LLP purchased a new stake in Piper Sandler Companies in the 2nd quarter worth approximately $13,753,000. Institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Trading Up 2.5%

Piper Sandler Companies stock opened at $67.60 on Friday. Piper Sandler Companies has a 12 month low of $61.35 and a 12 month high of $95.07. The business’s 50 day simple moving average is $68.94 and its 200 day simple moving average is $76.45. The company has a market cap of $4.78 billion, a price-to-earnings ratio of 15.17, a PEG ratio of 2.31 and a beta of 1.39.

Piper Sandler Companies (NYSE:PIPR) last issued its earnings results on Friday, October 30th. The company reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.06). Piper Sandler Companies had a net margin of 14.53% and a return on equity of 21.11%. The firm had revenue of $456.04 million during the quarter, compared to the consensus estimate of $467.39 million. During the same quarter in the previous year, the firm earned $3.82 earnings per share. The business’s quarterly revenue was down 4.9% compared to the same quarter last year. As a group, equities research analysts forecast that Piper Sandler Companies will post 4.10 earnings per share for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 11th. Shareholders of record on Tuesday, November 24th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, November 24th. This represents a $0.80 dividend on an annualized basis and a yield of 1.2%. Piper Sandler Companies’s payout ratio is presently 18.82%.

About Piper Sandler Companies

Piper Sandler Companies is a financial services company whose businesses provide investment banking, institutional sales and trading, research, and asset management services. Its clients include corporations, financial sponsors, institutional investors, and government entities.

The company advises on mergers and acquisitions and other strategic matters, helps clients raise capital, and provides equity and fixed-income trading and research. Its public finance business also serves municipal and other public-sector borrowers.

Based in Minneapolis, Piper Sandler traces its roots to 1895.