Piper Sandler Companies (NYSE:PIPR) Sets New 1-Year High – Here’s Why

Piper Sandler Companies (NYSE:PIPR) shares reached a new 52-week high on Monday . The stock traded as high as $300.15 and last traded at $297.10, with a volume of 574 shares traded. The stock had previously closed at $297.75.

Wall Street Analyst Weigh In

PIPR has been the subject of several analyst reports. JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a research note on Tuesday, September 17th. StockNews.com upgraded Piper Sandler Companies from a “hold” rating to a “buy” rating in a report on Friday.

Piper Sandler Companies Stock Down 0.2 %

The company’s fifty day moving average is $329.12. The firm has a market cap of $5.28 billion, a PE ratio of 31.74 and a beta of 1.43.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings data on Friday, October 25th. The financial services provider reported $2.57 earnings per share 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 business had revenue of $359.57 million during the quarter, compared to analyst estimates of $365.07 million. As a group, research analysts forecast that Piper Sandler Companies will post 11.49 EPS for the current year.

Piper Sandler Companies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 22nd were issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend was Friday, November 22nd. Piper Sandler Companies’s dividend payout ratio is currently 27.78%.

Hedge Funds Weigh In On Piper Sandler Companies

Several institutional investors have recently made changes to their positions in the business. Cerity Partners LLC lifted its position in shares of Piper Sandler Companies by 21.3% during the 3rd quarter. Cerity Partners LLC now owns 16,060 shares of the financial services provider’s stock valued at $4,558,000 after buying an additional 2,819 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Piper Sandler Companies by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 205,226 shares of the financial services provider’s stock valued at $58,245,000 after purchasing an additional 2,689 shares in the last quarter. Barclays PLC lifted its holdings in shares of Piper Sandler Companies by 307.2% in the 3rd quarter. Barclays PLC now owns 32,328 shares of the financial services provider’s stock valued at $9,174,000 after acquiring an additional 24,388 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Piper Sandler Companies in the 3rd quarter worth approximately $624,000. Finally, Citigroup Inc. boosted its stake in Piper Sandler Companies by 63.4% during the third quarter. Citigroup Inc. now owns 21,496 shares of the financial services provider’s stock worth $6,101,000 after buying an additional 8,337 shares during the period. Institutional investors own 72.79% of the company’s stock.

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.