Piper Sandler Companies (NYSE:PIPR) Shares Down 0.2%

Piper Sandler Companies (NYSE:PIPR) dropped 0.2% on Tuesday . The company traded as low as $283.98 and last traded at $287.00. Approximately 60,338 shares traded hands during trading, a decline of 28% from the average daily volume of 83,412 shares. The stock had previously closed at $287.51.

Analyst Upgrades and Downgrades

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 Stock Performance

The business’s 50 day moving average price is $269.88 and its 200-day moving average price is $253.90. The firm has a market capitalization of $5.08 billion, a PE ratio of 48.81 and a beta of 1.39.

Piper Sandler Companies (NYSE:PIPR) last released its earnings results on Friday, August 2nd. The financial services provider reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.26. The company had revenue of $357.00 million during the quarter, compared to the consensus estimate of $338.90 million. Piper Sandler Companies had a return on equity of 15.36% and a net margin of 9.23%. Piper Sandler Companies’s revenue was up 23.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.13 EPS. As a group, analysts anticipate that Piper Sandler Companies will post 11.53 earnings per share for the current year.

Piper Sandler Companies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 29th were paid a dividend of $0.65 per share. This is an increase from Piper Sandler Companies’s previous quarterly dividend of $0.60. This represents a $2.60 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend was Thursday, August 29th. Piper Sandler Companies’s dividend payout ratio is presently 44.22%.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Piper Sandler Companies

Several hedge funds and other institutional investors have recently bought and sold shares of PIPR. Norges Bank acquired a new position in Piper Sandler Companies in the 4th quarter valued at about $21,023,000. Mairs & Power Inc. increased its holdings in Piper Sandler Companies by 210.8% in the fourth quarter. Mairs & Power Inc. now owns 123,095 shares of the financial services provider’s stock valued at $21,526,000 after buying an additional 83,495 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Piper Sandler Companies by 37.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 220,638 shares of the financial services provider’s stock worth $38,583,000 after acquiring an additional 59,915 shares during the period. SageView Advisory Group LLC purchased a new position in Piper Sandler Companies in the 1st quarter valued at approximately $10,970,000. Finally, Mesirow Institutional Investment Management Inc. acquired a new position in Piper Sandler Companies during the second quarter worth $10,139,000. 72.79% of the stock is currently owned by institutional investors and hedge funds.

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.