Piper Sandler Companies (NYSE:PIPR) Given “Market Perform” Rating at JMP Securities

Piper Sandler Companies (NYSE:PIPR)‘s stock had its “market perform” rating reiterated by equities researchers at JMP Securities in a note issued to investors on Tuesday, Benzinga reports.

Piper Sandler Companies Stock Performance

Shares of PIPR opened at $275.37 on Tuesday. Piper Sandler Companies has a fifty-two week low of $130.89 and a fifty-two week high of $282.75. The company has a market capitalization of $4.87 billion, a price-to-earnings ratio of 46.83 and a beta of 1.40. The firm has a 50-day simple moving average of $266.80 and a 200-day simple moving average of $249.41.

Piper Sandler Companies (NYSE:PIPR) last announced its earnings results on Friday, August 2nd. The financial services provider reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.26. Piper Sandler Companies had a net margin of 9.23% and a return on equity of 15.36%. The business had revenue of $357.00 million during the quarter, compared to the consensus estimate of $338.90 million. During the same quarter in the prior year, the firm earned $1.13 earnings per share. The business’s quarterly revenue was up 23.7% compared to the same quarter last year. Equities research analysts forecast that Piper Sandler Companies will post 11.53 EPS for the current year.

Insider Transactions at Piper Sandler Companies

In other Piper Sandler Companies news, insider Jonathan J. Doyle sold 12,695 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $236.63, for a total value of $3,004,017.85. Following the completion of the transaction, the insider now owns 160,095 shares in the company, valued at $37,883,279.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Philip Soran sold 1,792 shares of Piper Sandler Companies stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $263.92, for a total transaction of $472,944.64. Following the completion of the sale, the director now directly owns 18,341 shares in the company, valued at approximately $4,840,556.72. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jonathan J. Doyle sold 12,695 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $236.63, for a total value of $3,004,017.85. Following the sale, the insider now directly owns 160,095 shares in the company, valued at approximately $37,883,279.85. The disclosure for this sale can be found here. In the last three months, insiders sold 16,276 shares of company stock valued at $3,936,252. Corporate insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Piper Sandler Companies

Several hedge funds and other institutional investors have recently bought and sold shares of PIPR. Charles Schwab Investment Management Inc. raised its holdings in Piper Sandler Companies by 3.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 187,310 shares of the financial services provider’s stock worth $32,755,000 after purchasing an additional 6,652 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Piper Sandler Companies by 1.2% during the fourth 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 during the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in Piper Sandler Companies by 5.7% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 1,716 shares of the financial services provider’s stock worth $300,000 after purchasing an additional 92 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in Piper Sandler Companies by 21.1% during the fourth quarter. Quadrant Capital Group LLC now owns 460 shares of the financial services provider’s stock worth $80,000 after purchasing an additional 80 shares during the last quarter. Finally, Panagora Asset Management Inc. acquired a new position in Piper Sandler Companies during the fourth quarter worth $222,000. 72.79% of the stock is owned by institutional investors and hedge funds.

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.