Piper Sandler Companies (NYSE:PIPR) Reaches New 52-Week High at $231.50

Piper Sandler Companies (NYSE:PIPR) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $231.50 and last traded at $229.38, with a volume of 3788 shares. The stock had previously closed at $230.17.

Analyst Upgrades and Downgrades

Separately, JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a research report on Tuesday, June 11th.

Piper Sandler Companies Stock Performance

The company has a market capitalization of $4.03 billion, a PE ratio of 38.70 and a beta of 1.41. The company’s fifty day moving average is $211.37.

Piper Sandler Companies (NYSE:PIPR) last issued its earnings results on Friday, April 26th. The financial services provider reported $2.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.90. The business had revenue of $335.29 million during the quarter, compared to the consensus estimate of $314.97 million. Piper Sandler Companies had a return on equity of 13.65% and a net margin of 7.33%. The company’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same period last year, the company earned $2.35 EPS. On average, analysts forecast that Piper Sandler Companies will post 11.82 EPS for the current year.

Piper Sandler Companies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 24th were issued a $0.60 dividend. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $2.40 annualized dividend and a yield of 1.05%. Piper Sandler Companies’s payout ratio is 40.82%.

Insider Activity

In other Piper Sandler Companies news, General Counsel John W. Geelan sold 1,570 shares of Piper Sandler Companies stock in a transaction on Monday, May 6th. The stock was sold at an average price of $211.14, for a total value of $331,489.80. Following the sale, the general counsel now owns 16,854 shares in the company, valued at $3,558,553.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, General Counsel John W. Geelan sold 1,570 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $211.14, for a total transaction of $331,489.80. Following the completion of the sale, the general counsel now directly owns 16,854 shares of the company’s stock, valued at approximately $3,558,553.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Debbra L. Schoneman sold 1,022 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $213.27, for a total transaction of $217,961.94. Following the completion of the transaction, the president now directly owns 43,083 shares in the company, valued at approximately $9,188,311.41. The disclosure for this sale can be found here. Insiders sold a total of 6,570 shares of company stock valued at $1,393,941 in the last 90 days. Company insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Piper Sandler Companies by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 1,971,201 shares of the financial services provider’s stock worth $391,264,000 after buying an additional 20,891 shares during the period. Dimensional Fund Advisors LP grew its stake in Piper Sandler Companies by 1.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 506,340 shares of the financial services provider’s stock worth $88,546,000 after purchasing an additional 5,851 shares in the last quarter. Franklin Resources Inc. increased its holdings in Piper Sandler Companies by 1.6% during the 4th quarter. Franklin Resources Inc. now owns 316,893 shares of the financial services provider’s stock worth $55,415,000 after purchasing an additional 5,089 shares during the period. Lord Abbett & CO. LLC boosted its stake in shares of Piper Sandler Companies by 7.4% in the 1st quarter. Lord Abbett & CO. LLC now owns 285,542 shares of the financial services provider’s stock valued at $56,677,000 after buying an additional 19,662 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in shares of Piper Sandler Companies by 37.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 220,638 shares of the financial services provider’s stock worth $38,583,000 after buying an additional 59,915 shares in 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.