Piper Sandler Companies (NYSE:PIPR) Sets New 1-Year High at $286.06

Piper Sandler Companies (NYSE:PIPR) reached a new 52-week high during trading on Monday . The stock traded as high as $286.06 and last traded at $279.10, with a volume of 1250 shares trading hands. The stock had previously closed at $281.99.

Analyst Upgrades and Downgrades

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

Piper Sandler Companies Price Performance

The company has a market capitalization of $4.95 billion, a price-to-earnings ratio of 47.58 and a beta of 1.39. The firm has a 50 day simple moving average of $271.55.

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

Piper Sandler Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 29th were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.93%. This is an increase from Piper Sandler Companies’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Thursday, August 29th. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 44.22%.

Insider Activity at Piper Sandler Companies

In related news, 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 sale, the general counsel now directly owns 15,065 shares in the company, valued at approximately $3,867,637.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Piper Sandler Companies news, insider Jonathan J. Doyle sold 12,695 shares of Piper Sandler Companies stock in a transaction dated 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 directly owns 160,095 shares of the company’s stock, valued at approximately $37,883,279.85. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel John W. Geelan sold 1,789 shares of Piper Sandler Companies 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 transaction, the general counsel now directly owns 15,065 shares of the company’s stock, valued at $3,867,637.45. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,276 shares of company stock worth $3,936,252. Company insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Piper Sandler Companies

Institutional investors have recently bought and sold shares of the company. Blue Trust Inc. grew its position in Piper Sandler Companies by 194.7% in the 2nd quarter. Blue Trust Inc. now owns 112 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 74 shares in the last quarter. Parallel Advisors LLC grew its position in shares of Piper Sandler Companies by 62.1% during the fourth quarter. Parallel Advisors LLC now owns 167 shares of the financial services provider’s stock worth $29,000 after buying an additional 64 shares in the last quarter. nVerses Capital LLC grew its position in shares of Piper Sandler Companies by 100.0% during the second quarter. nVerses Capital LLC now owns 200 shares of the financial services provider’s stock worth $46,000 after buying an additional 100 shares in the last quarter. Mather Group LLC. acquired a new position in shares of Piper Sandler Companies during the first quarter worth about $64,000. Finally, FSC Wealth Advisors LLC grew its position in shares of Piper Sandler Companies by 39.0% during the second quarter. FSC Wealth Advisors LLC now owns 346 shares of the financial services provider’s stock worth $80,000 after buying an additional 97 shares in the last quarter. 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.