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

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

Wall Street Analysts Forecast Growth

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

Piper Sandler Companies Price Performance

The stock has a market cap of $4.95 billion, a price-to-earnings ratio of 47.58 and a beta of 1.39. The business has a fifty day simple moving average of $271.55.

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

Piper Sandler Companies Increases Dividend

The company 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 positive change from Piper Sandler Companies’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $2.60 annualized dividend and a dividend yield of 0.93%. Piper Sandler Companies’s dividend payout ratio (DPR) is currently 44.22%.

Insider Buying and Selling

In related news, 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 sale, the director now owns 18,341 shares in the company, valued at approximately $4,840,556.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Philip Soran sold 1,792 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $4,840,556.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel John W. Geelan sold 1,789 shares of the firm’s stock in a transaction 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. 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.

Hedge Funds Weigh In On Piper Sandler Companies

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Piper Sandler Companies by 1.1% during the first quarter. Vanguard Group Inc. now owns 1,971,201 shares of the financial services provider’s stock worth $391,264,000 after buying an additional 20,891 shares during the last quarter. Lord Abbett & CO. LLC raised its stake in Piper Sandler Companies by 7.4% during the first quarter. Lord Abbett & CO. LLC now owns 285,542 shares of the financial services provider’s stock worth $56,677,000 after buying an additional 19,662 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Piper Sandler Companies by 37.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 220,638 shares of the financial services provider’s stock worth $38,583,000 after buying an additional 59,915 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Piper Sandler Companies by 5.8% during the second quarter. Bank of New York Mellon Corp now owns 170,145 shares of the financial services provider’s stock worth $39,162,000 after buying an additional 9,380 shares during the last quarter. Finally, Mairs & Power Inc. raised its stake in Piper Sandler Companies by 210.8% during the fourth quarter. Mairs & Power Inc. now owns 123,095 shares of the financial services provider’s stock worth $21,526,000 after buying an additional 83,495 shares during the last quarter. Institutional investors own 72.79% of the company’s stock.

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.