PIPER SANDLER COMPANIES
In the published model solve dated 2026-Q2, anchored at $76.15, PIPER SANDLER COMPANIES (PIPR) is priced for today's economics sustained for ~6.5 years. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed June 27, 2026 from SEC EDGAR filings.
- At about $82 the price values Piper Sandler near 32 times earnings, a 3.1% earnings yield, which inverts to roughly eight years of fee-earnings growth at the top of the achievable range. That price-to-earnings sits at the very top of the fee-financial peer group, so the bet is less about whether the firm grows and more about how long it can keep growing fast. - This is an earnings-and-asset-supported name, not a pure growth story. Multiple frames reach the price: earnings power, relative multi
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375 institutional managers reported holding PIPR in 13F filings for the quarter ended 2026-03-31. Together they hold about 83% of the company; the top 10 hold 46%. 50 opened new positions that quarter. Held by BlackRock, Vanguard Group, State Street, among others. On the short side, 2.8M shares were sold short as of the 2026-06-15 count, about 4% of shares outstanding (5.5 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
PIPR's share count grew 18.1% over the past five years even with $553.10M spent on repurchases. It pays a dividend, and has for 9 years running; the current rate is $5.70 a share annually. Cash returned over the past three years: $308.90M in dividends and $268.32M in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
No open-market insider buys on file at PIPR over the trailing three years. Absence is a fact about the company, not a signal. 18 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
PIPR's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-08-03 | +0.2% | -3.2% |
| 2023-11-04 | +1.9% | +12.7% |
| 2024-02-27 | +7.6% | +4.4% |
| 2024-05-08 | +2.7% | +11.1% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
PIPR's latest 8-K filings: 2026-07-30 (items 2.02, 9.01); 2026-05-21 (items 5.07); 2026-05-01 (items 2.02, 9.01); 2026-03-23 (items 5.03, 8.01, 9.01); 2026-02-06 (items 2.02, 8.01, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: June 27, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.