Piper Sandler Companies (NYSE:PIPR) Stock Rating Reaffirmed by JMP Securities

JMP Securities reissued their market perform rating on shares of Piper Sandler Companies (NYSE:PIPR) in a research note published on Tuesday morning, Benzinga reports.

Piper Sandler Companies Stock Performance

Shares of NYSE:PIPR opened at $275.37 on Tuesday. Piper Sandler Companies has a one year low of $130.89 and a one year high of $282.75. The stock has a fifty day moving average of $266.80 and a 200-day moving average of $249.41. The company has a market capitalization of $4.87 billion, a PE ratio of 46.83 and a beta of 1.40.

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, beating 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 company 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 EPS. The company’s quarterly revenue was up 23.7% compared to the same quarter last year. As a group, research analysts forecast that Piper Sandler Companies will post 11.53 EPS for the current fiscal year.

Piper Sandler Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders 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 0.94%. The ex-dividend date of this dividend was Thursday, August 29th. This is an increase from Piper Sandler Companies’s previous quarterly dividend of $0.60. Piper Sandler Companies’s dividend payout ratio is 44.22%.

Insider Activity

In other news, Director Philip Soran sold 1,792 shares of the 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 sale, the director now owns 18,341 shares in the company, valued at $4,840,556.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Philip Soran sold 1,792 shares of the 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 sale, the director now owns 18,341 shares in the company, valued at $4,840,556.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jonathan J. Doyle sold 12,695 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $236.63, for a total value of $3,004,017.85. Following the completion of the sale, the insider now owns 160,095 shares of the company’s stock, valued at approximately $37,883,279.85. The disclosure for this sale can be found here. Insiders sold 16,276 shares of company stock worth $3,936,252 over the last quarter. Corporate insiders own 3.00% of the company’s stock.

Institutional Trading of Piper Sandler Companies

A number of institutional investors have recently bought and sold shares of the company. Bank of Montreal Can boosted its position in Piper Sandler Companies by 2.1% during the second quarter. Bank of Montreal Can now owns 2,262 shares of the financial services provider’s stock valued at $524,000 after purchasing an additional 46 shares during the last quarter. Xponance Inc. boosted its position in Piper Sandler Companies by 4.6% during the second quarter. Xponance Inc. now owns 1,101 shares of the financial services provider’s stock valued at $253,000 after purchasing an additional 48 shares during the last quarter. Commonwealth Equity Services LLC boosted its position 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 valued at $539,000 after purchasing an additional 54 shares during 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. 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.