Piper Sandler Companies (NYSE:PIPR) Price Target Lowered to $286.00 at The Goldman Sachs Group

Piper Sandler Companies (NYSE:PIPR) had its price objective cut by The Goldman Sachs Group from $321.00 to $286.00 in a research note released on Friday,Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

Several other research firms have also issued reports on PIPR. StockNews.com lowered shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a research note on Monday, February 3rd.

Piper Sandler Companies Stock Up 1.0 %

PIPR stock traded up $2.48 during midday trading on Friday, reaching $254.51. 74,085 shares of the company’s stock traded hands, compared to its average volume of 105,096. The company has a market cap of $4.51 billion, a price-to-earnings ratio of 24.90 and a beta of 1.46. The firm’s fifty day moving average price is $282.87 and its 200-day moving average price is $299.17. Piper Sandler Companies has a 52 week low of $183.58 and a 52 week high of $351.80.

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

Piper Sandler Companies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend is Tuesday, March 4th. Piper Sandler Companies’s dividend payout ratio (DPR) is currently 25.44%.

Hedge Funds Weigh In On Piper Sandler Companies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Piper Sandler Companies by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 2,063,590 shares of the financial services provider’s stock worth $618,974,000 after purchasing an additional 31,400 shares in the last quarter. Invesco Ltd. increased its stake in shares of Piper Sandler Companies by 17.2% in the fourth quarter. Invesco Ltd. now owns 697,824 shares of the financial services provider’s stock worth $209,312,000 after purchasing an additional 102,426 shares in the last quarter. State Street Corp increased its stake in shares of Piper Sandler Companies by 0.3% in the third quarter. State Street Corp now owns 682,430 shares of the financial services provider’s stock worth $193,680,000 after purchasing an additional 2,137 shares in the last quarter. FMR LLC increased its stake in shares of Piper Sandler Companies by 49.0% in the third quarter. FMR LLC now owns 625,048 shares of the financial services provider’s stock worth $177,395,000 after purchasing an additional 205,584 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Piper Sandler Companies by 2.0% in the third quarter. Geode Capital Management LLC now owns 377,586 shares of the financial services provider’s stock worth $107,184,000 after purchasing an additional 7,344 shares in the last quarter. 72.79% of the stock is owned by hedge funds and other institutional investors.

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.