Piper Sandler Companies (NYSE:PIPR) Reaches New 52-Week High – Should You Buy?

Piper Sandler Companies (NYSE:PIPR) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $288.47 and last traded at $307.46, with a volume of 53900 shares changing hands. The stock had previously closed at $302.50.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. StockNews.com cut Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. The Goldman Sachs Group downgraded Piper Sandler Companies from a “buy” rating to a “neutral” rating and set a $317.00 price objective on the stock. in a research note on Monday, January 6th.

Piper Sandler Companies Trading Up 1.5 %

The business’s 50 day simple moving average is $298.95 and its 200 day simple moving average is $312.03. The firm has a market capitalization of $5.49 billion, a PE ratio of 33.02 and a beta of 1.46.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings results on Friday, October 25th. The financial services provider reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.04. Piper Sandler Companies had a net margin of 10.84% and a return on equity of 16.06%. The firm had revenue of $359.57 million during the quarter, compared to the consensus estimate of $365.07 million. Analysts forecast that Piper Sandler Companies will post 11.49 earnings per share for the current year.

Piper Sandler Companies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 22nd were given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.84%. The ex-dividend date of this dividend was Friday, November 22nd. Piper Sandler Companies’s dividend payout ratio is currently 27.78%.

Institutional Trading of Piper Sandler Companies

Institutional investors have recently bought and sold shares of the stock. Nisa Investment Advisors LLC increased its position in Piper Sandler Companies by 2.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 5,861 shares of the financial services provider’s stock valued at $1,758,000 after acquiring an additional 150 shares during the last quarter. Park Avenue Securities LLC boosted its stake in shares of Piper Sandler Companies by 46.9% during the 4th quarter. Park Avenue Securities LLC now owns 3,103 shares of the financial services provider’s stock worth $931,000 after purchasing an additional 990 shares during the period. West Oak Capital LLC grew its holdings in Piper Sandler Companies by 650.0% during the 4th quarter. West Oak Capital LLC now owns 1,500 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 1,300 shares during the last quarter. Oliver Luxxe Assets LLC raised its position in Piper Sandler Companies by 5.7% in the 4th quarter. Oliver Luxxe Assets LLC now owns 11,838 shares of the financial services provider’s stock worth $3,551,000 after purchasing an additional 636 shares during the period. Finally, Modus Advisors LLC purchased a new stake in Piper Sandler Companies in the 4th quarter worth about $404,000. 72.79% of the stock is currently owned by institutional investors.

About Piper Sandler Companies

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.