Piper Sandler Companies (NYSE:PIPR) Price Target Raised to $330.00 at The Goldman Sachs Group

Piper Sandler Companies (NYSE:PIPR) had its price target raised by The Goldman Sachs Group from $298.00 to $330.00 in a report published on Monday,Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

PIPR has been the topic of several other reports. JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a report on Monday. StockNews.com downgraded Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th.

Piper Sandler Companies Price Performance

Shares of PIPR stock traded down $5.63 on Monday, reaching $311.51. The company’s stock had a trading volume of 36,670 shares, compared to its average volume of 91,413. The stock’s fifty day simple moving average is $301.34. Piper Sandler Companies has a 1 year low of $177.80 and a 1 year high of $351.80. The stock has a market capitalization of $5.54 billion, a P/E ratio of 30.40 and a beta of 1.46.

Piper Sandler Companies (NYSE:PIPR) last released its earnings results on Friday, January 31st. The financial services provider reported $4.80 earnings per share (EPS) for the quarter, topping 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 period last year, the firm posted $4.03 earnings per share. On average, research analysts expect that Piper Sandler Companies will post 13.47 earnings per share for the current year.

Institutional Investors Weigh In On Piper Sandler Companies

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Bank of Montreal Can raised its holdings in shares of Piper Sandler Companies by 2.1% in the second quarter. Bank of Montreal Can now owns 2,262 shares of the financial services provider’s stock valued at $524,000 after acquiring an additional 46 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Piper Sandler Companies by 10.9% in the 2nd quarter. AQR Capital Management LLC now owns 2,254 shares of the financial services provider’s stock valued at $519,000 after purchasing an additional 222 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Piper Sandler Companies by 3.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,684 shares of the financial services provider’s stock worth $2,229,000 after purchasing an additional 308 shares during the period. Creative Planning boosted its stake in shares of Piper Sandler Companies by 20.9% during the second quarter. Creative Planning now owns 6,888 shares of the financial services provider’s stock valued at $1,585,000 after purchasing an additional 1,191 shares in the last quarter. Finally, Kesler Norman & Wride LLC purchased a new position in Piper Sandler Companies during the third quarter valued at approximately $469,000. 72.79% of the stock is owned by 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.