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

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

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

Piper Sandler Companies Stock Up 1.0 %

NYSE:PIPR traded up $2.48 during mid-day trading on Friday, hitting $254.51. 74,085 shares of the stock traded hands, compared to its average volume of 105,096. The business’s 50-day moving average price is $282.87 and its 200 day moving average price is $299.17. The company has a market cap of $4.51 billion, a PE ratio of 24.90 and a beta of 1.46. Piper Sandler Companies has a 12-month low of $183.58 and a 12-month high of $351.80.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings data on Friday, January 31st. The financial services provider reported $4.80 earnings per share for the quarter, topping 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 period last year, the business posted $4.03 earnings per share. Analysts anticipate that Piper Sandler Companies will post 14.14 earnings per share for the current fiscal year.

Piper Sandler Companies Dividend Announcement

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

Institutional Investors Weigh In On Piper Sandler Companies

Institutional investors have recently added to or reduced their stakes in the stock. IFP Advisors Inc grew its holdings in Piper Sandler Companies by 2,183.3% during the 4th quarter. IFP Advisors Inc now owns 137 shares of the financial services provider’s stock valued at $43,000 after buying an additional 131 shares in the last quarter. 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 buying an additional 1,300 shares in the last quarter. Park Square Financial Group LLC purchased a new stake in Piper Sandler Companies during the 4th quarter valued at approximately $45,000. Lazard Asset Management LLC purchased a new position in shares of Piper Sandler Companies in the fourth quarter valued at $51,000. Finally, Allworth Financial LP grew its holdings in shares of Piper Sandler Companies by 238.8% in the fourth quarter. Allworth Financial LP now owns 227 shares of the financial services provider’s stock valued at $70,000 after purchasing an additional 160 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.