Piper Sandler Companies (NYSE:PIPR) Reaches New 1-Year High at $287.90

Piper Sandler Companies (NYSE:PIPR) shares hit a new 52-week high during trading on Monday . The stock traded as high as $287.90 and last traded at $288.03, with a volume of 1404 shares traded. The stock had previously closed at $286.99.

Wall Street Analysts Forecast Growth

Separately, JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a research report on Tuesday, September 17th.

Piper Sandler Companies Price Performance

The firm has a 50 day moving average price of $268.21. The company has a market capitalization of $5.11 billion, a P/E ratio of 48.81 and a beta of 1.39.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings data on Friday, August 2nd. The financial services provider reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.26. The firm had revenue of $357.00 million during the quarter, compared to analyst estimates of $338.90 million. Piper Sandler Companies had a return on equity of 15.36% and a net margin of 9.23%. The company’s revenue was up 23.7% on a year-over-year basis. During the same period last year, the company earned $1.13 earnings per share. On average, equities research analysts expect that Piper Sandler Companies will post 11.53 earnings per share for the current year.

Piper Sandler Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 29th were paid a $0.65 dividend. The ex-dividend date was Thursday, August 29th. This is a boost from Piper Sandler Companies’s previous quarterly dividend of $0.60. This represents a $2.60 dividend on an annualized basis and a yield of 0.90%. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 44.22%.

Insider Activity at Piper Sandler Companies

In other Piper Sandler Companies news, Director Philip Soran sold 1,792 shares of the firm’s 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 sale, the director now directly owns 18,341 shares in the company, valued at approximately $4,840,556.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Piper Sandler Companies news, Director Philip Soran sold 1,792 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $263.92, for a total transaction of $472,944.64. Following the completion of the transaction, the director now owns 18,341 shares in the company, valued at approximately $4,840,556.72. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel John W. Geelan sold 1,789 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $256.73, for a total value of $459,289.97. Following the completion of the sale, the general counsel now owns 15,065 shares in the company, valued at $3,867,637.45. The disclosure for this sale can be found here. In the last three months, insiders sold 16,276 shares of company stock worth $3,936,252. 3.00% of the stock is owned by company insiders.

Institutional Trading of Piper Sandler Companies

A number of hedge funds and other institutional investors have recently made changes to their positions in PIPR. Bank of Montreal Can increased its stake in Piper Sandler Companies by 2.1% in the 2nd quarter. Bank of Montreal Can now owns 2,262 shares of the financial services provider’s stock valued at $524,000 after buying an additional 46 shares during the last quarter. Xponance Inc. increased its position in shares of Piper Sandler Companies by 4.6% in the second quarter. Xponance Inc. now owns 1,101 shares of the financial services provider’s stock valued at $253,000 after acquiring an additional 48 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in Piper Sandler Companies by 2.4% during the second quarter. Commonwealth Equity Services LLC now owns 2,340 shares of the financial services provider’s stock worth $539,000 after acquiring an additional 54 shares in the last quarter. Oliver Luxxe Assets LLC boosted its position in Piper Sandler Companies by 1.1% during the first quarter. Oliver Luxxe Assets LLC now owns 5,954 shares of the financial services provider’s stock valued at $1,182,000 after purchasing an additional 62 shares during the last quarter. Finally, Parallel Advisors LLC boosted its position in Piper Sandler Companies by 62.1% during the fourth quarter. Parallel Advisors LLC now owns 167 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 64 shares during the last quarter. 72.79% of the stock is currently 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.