Piper Sandler Companies (NYSE:PIPR) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Piper Sandler Companies (NYSE:PIPR) from a buy rating to a hold rating in a research note published on Monday.

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

Piper Sandler Companies Trading Down 0.6 %

NYSE PIPR opened at $283.64 on Monday. The firm’s fifty day simple moving average is $289.85 and its two-hundred day simple moving average is $274.58. The firm has a market capitalization of $5.02 billion, a P/E ratio of 48.24 and a beta of 1.39. Piper Sandler Companies has a 12-month low of $137.20 and a 12-month high of $306.10.

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 return on equity of 16.18% and a net margin of 10.84%. The firm had revenue of $357.00 million for the quarter, compared to the consensus estimate of $338.90 million. During the same period in the previous year, the business earned $1.13 EPS. The firm’s revenue for the quarter was up 23.7% on a year-over-year basis. As a group, sell-side analysts predict that Piper Sandler Companies will post 11.53 earnings per share for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 22nd will be paid a $0.65 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $2.60 dividend on an annualized basis and a yield of 0.92%. Piper Sandler Companies’s dividend payout ratio (DPR) is 44.22%.

Insiders Place Their Bets

In related news, General Counsel John W. Geelan sold 1,789 shares of Piper Sandler Companies 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 completion of the sale, the general counsel now owns 15,065 shares of the company’s stock, valued at $3,867,637.45. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Philip Soran sold 1,792 shares of Piper Sandler Companies stock in a transaction that occurred on 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 directly owns 18,341 shares in the company, valued at approximately $4,840,556.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel John W. Geelan sold 1,789 shares of Piper Sandler Companies stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $256.73, for a total transaction of $459,289.97. Following the transaction, the general counsel now directly owns 15,065 shares of the company’s stock, valued at approximately $3,867,637.45. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,276 shares of company stock valued at $3,936,252. 3.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Blue Trust Inc. raised its stake in shares of Piper Sandler Companies by 194.7% during the 2nd quarter. Blue Trust Inc. now owns 112 shares of the financial services provider’s stock worth $26,000 after buying an additional 74 shares during the period. nVerses Capital LLC raised its position in 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 acquiring an additional 100 shares during the period. USA Financial Formulas purchased a new position in Piper Sandler Companies during the third quarter valued at $77,000. FSC Wealth Advisors LLC grew its position in shares of Piper Sandler Companies by 39.0% in the second quarter. FSC Wealth Advisors LLC now owns 346 shares of the financial services provider’s stock valued at $80,000 after purchasing an additional 97 shares during the period. Finally, CWM LLC increased its stake in shares of Piper Sandler Companies by 22.5% during the third quarter. CWM LLC now owns 310 shares of the financial services provider’s stock worth $88,000 after purchasing an additional 57 shares in the last quarter. Institutional investors and hedge funds own 72.79% of the company’s stock.

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.