Piper Sandler Companies (NYSE:PIPR) Trading Down 15.7% – Should You Sell?

Piper Sandler Companies (NYSE:PIPR)’s stock price fell 15.7% on Tuesday . The company traded as low as $279.72 and last traded at $250.91. 154,087 shares traded hands during trading, an increase of 47% from the average session volume of 104,899 shares. The stock had previously closed at $297.52.

Analysts Set New Price Targets

PIPR has been the topic of a number of research reports. JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a report on Monday, February 3rd. StockNews.com lowered Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Finally, The Goldman Sachs Group boosted their target price on Piper Sandler Companies from $298.00 to $330.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd.

Piper Sandler Companies Trading Up 2.7 %

The business has a 50-day moving average price of $288.32 and a 200 day moving average price of $301.54. The stock has a market capitalization of $4.45 billion, a P/E ratio of 24.55 and a beta of 1.46.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings data on Friday, January 31st. The financial services provider reported $4.80 EPS for the quarter, beating the consensus estimate 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 company earned $4.03 earnings per share. On average, sell-side analysts predict that Piper Sandler Companies will post 14.14 earnings per share for the current fiscal 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 given a $0.65 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $2.60 annualized dividend and a yield of 1.04%. Piper Sandler Companies’s dividend payout ratio is currently 25.44%.

Institutional Investors Weigh In On Piper Sandler Companies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC lifted its stake in shares of Piper Sandler Companies by 5.2% in the 4th quarter. Quadrant Capital Group LLC now owns 754 shares of the financial services provider’s stock valued at $226,000 after purchasing an additional 37 shares during the last quarter. Arizona State Retirement System raised its holdings in Piper Sandler Companies by 0.8% during the 4th quarter. Arizona State Retirement System now owns 5,137 shares of the financial services provider’s stock valued at $1,541,000 after buying an additional 40 shares during the period. Coldstream Capital Management Inc. lifted its position in Piper Sandler Companies by 2.3% in the third quarter. Coldstream Capital Management Inc. now owns 1,845 shares of the financial services provider’s stock worth $524,000 after buying an additional 41 shares during the last quarter. Lido Advisors LLC boosted its stake in Piper Sandler Companies by 1.2% during the fourth quarter. Lido Advisors LLC now owns 4,185 shares of the financial services provider’s stock worth $1,255,000 after buying an additional 49 shares during the period. Finally, Mercer Global Advisors Inc. ADV increased its position in Piper Sandler Companies by 4.2% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 1,394 shares of the financial services provider’s stock valued at $418,000 after acquiring an additional 56 shares during the last quarter. 72.79% of the stock is currently 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.