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

Piper Sandler Companies (NYSE:PIPR)’s stock price reached 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. The stock had previously closed at $286.99.

Analyst Upgrades and Downgrades

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

Piper Sandler Companies Stock Up 0.6 %

The stock has a 50-day moving average of $268.21. The firm 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 issued its earnings results on Friday, August 2nd. The financial services provider reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.26. The firm had revenue of $357.00 million during the quarter, compared to analysts’ expectations of $338.90 million. Piper Sandler Companies had a net margin of 9.23% and a return on equity of 15.36%. The firm’s revenue was up 23.7% compared to the same quarter last year. During the same quarter last year, the company posted $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 fiscal year.

Piper Sandler Companies Increases Dividend

The business also recently declared 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 is a boost from Piper Sandler Companies’s previous quarterly dividend of $0.60. This represents a $2.60 annualized dividend and a yield of 0.90%. The ex-dividend date was Thursday, August 29th. Piper Sandler Companies’s dividend payout ratio (DPR) is currently 44.22%.

Insiders Place Their Bets

In related news, 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 transaction of $3,004,017.85. Following the sale, the insider now directly owns 160,095 shares of the company’s stock, valued at $37,883,279.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Piper Sandler Companies news, General Counsel John W. Geelan sold 1,789 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was 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 of the company’s stock, valued at $3,867,637.45. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jonathan J. Doyle sold 12,695 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 160,095 shares of the company’s stock, valued at $37,883,279.85. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,276 shares of company stock worth $3,936,252. Corporate insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Piper Sandler Companies

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. TFO Wealth Partners LLC grew its position in shares of Piper Sandler Companies by 172,500.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,726 shares of the financial services provider’s stock valued at $302,000 after purchasing an additional 1,725 shares during the period. 1492 Capital Management LLC boosted its holdings in Piper Sandler Companies by 1.1% in the 4th quarter. 1492 Capital Management LLC now owns 6,399 shares of the financial services provider’s stock worth $1,119,000 after buying an additional 68 shares during the last quarter. New York State Teachers Retirement System increased its stake in Piper Sandler Companies by 1.9% during the 2nd quarter. New York State Teachers Retirement System now owns 32,149 shares of the financial services provider’s stock worth $7,400,000 after buying an additional 610 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Piper Sandler Companies by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 1,950,310 shares of the financial services provider’s stock valued at $341,051,000 after acquiring an additional 15,075 shares during the last quarter. Finally, Oliver Luxxe Assets LLC lifted its position in shares of Piper Sandler Companies by 40.2% in the fourth quarter. Oliver Luxxe Assets LLC now owns 5,892 shares of the financial services provider’s stock valued at $1,030,000 after acquiring an additional 1,689 shares in the last quarter. Hedge funds and other institutional investors 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.