Piper Sandler Companies (NYSE:PIPR) Lowered to “Neutral” Rating by The Goldman Sachs Group

The Goldman Sachs Group cut shares of Piper Sandler Companies (NYSE:PIPR) from a buy rating to a neutral rating in a research note published on Monday, MarketBeat Ratings reports. They currently have $317.00 price objective on the financial services provider’s stock.

PIPR has been the subject of several other research reports. StockNews.com lowered Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Saturday, December 28th. JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a research note on Tuesday, September 17th.

Piper Sandler Companies Stock Performance

Shares of NYSE PIPR opened at $294.56 on Monday. The company has a 50 day simple moving average of $309.88 and a two-hundred day simple moving average of $310.45. Piper Sandler Companies has a fifty-two week low of $162.50 and a fifty-two week high of $351.80. The company has a market capitalization of $5.24 billion, a price-to-earnings ratio of 31.47 and a beta of 1.46.

Piper Sandler Companies (NYSE:PIPR) last posted 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 return on equity of 16.06% and a net margin of 10.84%. The company had revenue of $359.57 million during the quarter, compared to analyst estimates of $365.07 million. On average, analysts forecast that Piper Sandler Companies will post 11.49 earnings per share for the current fiscal year.

Piper Sandler Companies Announces Dividend

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

Institutional Investors Weigh In On Piper Sandler Companies

Several institutional investors have recently modified their holdings of the business. USA Financial Formulas purchased a new position in Piper Sandler Companies in the 3rd quarter worth about $77,000. GAMMA Investing LLC raised its holdings in shares of Piper Sandler Companies by 27.6% during the fourth quarter. GAMMA Investing LLC now owns 277 shares of the financial services provider’s stock valued at $83,000 after purchasing an additional 60 shares during the last quarter. CWM LLC lifted its position in Piper Sandler Companies by 22.5% during the third quarter. CWM LLC now owns 310 shares of the financial services provider’s stock valued at $88,000 after purchasing an additional 57 shares during the period. KBC Group NV lifted its position in Piper Sandler Companies by 20.9% during the third quarter. KBC Group NV now owns 550 shares of the financial services provider’s stock valued at $156,000 after purchasing an additional 95 shares during the period. Finally, Blue Trust Inc. grew its position in Piper Sandler Companies by 486.6% in the 3rd quarter. Blue Trust Inc. now owns 657 shares of the financial services provider’s stock worth $186,000 after purchasing an additional 545 shares during the period. 72.79% of the stock is owned by hedge funds and other institutional investors.

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.