Piper Sandler Companies (NYSE:PIPR) Trading Down 15.7% – Time to Sell?

Piper Sandler Companies (NYSE:PIPR)’s share price dropped 15.7% during mid-day trading on Tuesday . The company traded as low as $279.72 and last traded at $250.95. Approximately 154,087 shares changed hands during mid-day trading, an increase of 37% from the average daily volume of 112,510 shares. The stock had previously closed at $297.52.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. The Goldman Sachs Group decreased their price target on shares of Piper Sandler Companies from $321.00 to $286.00 and set a “neutral” rating for the company in a report on Friday, March 14th. JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a research report on Monday, February 3rd. Finally, StockNews.com lowered Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th.

Piper Sandler Companies Stock Up 1.3 %

The company has a 50-day moving average price of $260.50 and a 200-day moving average price of $287.98. The firm has a market capitalization of $4.45 billion, a price-to-earnings ratio of 24.55 and a beta of 1.46.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings results on Friday, January 31st. The financial services provider reported $4.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarter last year, the company posted $4.03 earnings per share. As a group, analysts forecast that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th were paid a $0.65 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $2.60 annualized dividend and a dividend yield of 1.04%. Piper Sandler Companies’s dividend payout ratio is currently 25.44%.

Institutional Trading of Piper Sandler Companies

Large investors have recently added to or reduced their stakes in the business. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Piper Sandler Companies by 131.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 109 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 62 shares in the last quarter. IFP Advisors Inc boosted its position in shares of Piper Sandler Companies by 2,183.3% in the 4th quarter. IFP Advisors Inc now owns 137 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 131 shares during the period. Park Square Financial Group LLC purchased a new position in Piper Sandler Companies in the 4th quarter worth about $45,000. Lazard Asset Management LLC acquired a new stake in Piper Sandler Companies during the 4th quarter worth about $51,000. Finally, Allworth Financial LP lifted its stake in Piper Sandler Companies by 238.8% during the fourth quarter. Allworth Financial LP now owns 227 shares of the financial services provider’s stock valued at $70,000 after buying an additional 160 shares in the last quarter. 72.79% of the stock is currently owned by 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.