Piper Sandler Companies (NYSE:PIPR) Stock Price Down 1.4%

Piper Sandler Companies (NYSE:PIPR - Get Free Report) fell 1.4% during mid-day trading on Tuesday . The stock traded as low as $197.09 and last traded at $198.05. 70,845 shares changed hands during mid-day trading, a decline of 26% from the average session volume of 95,239 shares. The stock had previously closed at $200.96.

Analysts Set New Price Targets

Several brokerages recently issued reports on PIPR. The Goldman Sachs Group raised their price target on Piper Sandler Companies from $171.00 to $193.00 and gave the stock a "buy" rating in a report on Tuesday, December 19th. JMP Securities reissued a "market perform" rating on shares of Piper Sandler Companies in a report on Tuesday. StockNews.com raised Piper Sandler Companies from a "hold" rating to a "buy" rating in a report on Wednesday, February 28th. Finally, Northland Securities downgraded Piper Sandler Companies from an "outperform" rating to a "market perform" rating in a research note on Tuesday, December 19th.

Piper Sandler Companies Stock Down 1.4 %

The business has a 50-day moving average price of $195.00 and a 200-day moving average price of $184.28. The company has a market capitalization of $3.50 billion, a price-to-earnings ratio of 40.09 and a beta of 1.42.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last announced its earnings results on Friday, February 2nd. The financial services provider reported $4.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.61 by $1.42. The company had revenue of $457.39 million for the quarter, compared to analyst estimates of $370.12 million. Piper Sandler Companies had a return on equity of 13.27% and a net margin of 6.33%. Piper Sandler Companies's revenue for the quarter was up 17.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.33 earnings per share. As a group, sell-side analysts predict that Piper Sandler Companies will post 11.17 EPS for the current year.

Piper Sandler Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, March 4th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.21%. The ex-dividend date was Friday, March 1st. Piper Sandler Companies's payout ratio is 48.58%.

Insider Activity at Piper Sandler Companies

In other Piper Sandler Companies news, President Debbra L. Schoneman sold 4,795 shares of the business's stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $190.72, for a total value of $914,502.40. Following the transaction, the president now owns 12,140 shares in the company, valued at $2,315,340.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Piper Sandler Companies news, CEO Chad R. Abraham sold 11,307 shares of the business's stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $180.18, for a total value of $2,037,295.26. Following the transaction, the chief executive officer now owns 24,116 shares in the company, valued at $4,345,220.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Debbra L. Schoneman sold 4,795 shares of the business's stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $190.72, for a total value of $914,502.40. Following the completion of the transaction, the president now owns 12,140 shares in the company, valued at approximately $2,315,340.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 53,524 shares of company stock valued at $9,838,711. Company insiders own 3.30% of the company's stock.

Institutional Trading of Piper Sandler Companies

Large investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its stake in shares of Piper Sandler Companies by 7.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 180,658 shares of the financial services provider's stock worth $26,251,000 after acquiring an additional 11,847 shares in the last quarter. Indiana Trust & Investment Management CO acquired a new position in shares of Piper Sandler Companies during the 3rd quarter worth about $26,000. Allspring Global Investments Holdings LLC lifted its position in shares of Piper Sandler Companies by 1.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 60,712 shares of the financial services provider's stock worth $8,822,000 after purchasing an additional 615 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Piper Sandler Companies by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 1,935,235 shares of the financial services provider's stock worth $281,209,000 after purchasing an additional 9,030 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Piper Sandler Companies by 0.9% during the 3rd quarter. Victory Capital Management Inc. now owns 7,775 shares of the financial services provider's stock worth $1,130,000 after purchasing an additional 70 shares during the last quarter. Institutional investors own 72.79% of the company's stock.

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.

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