Piper Sandler Companies (NYSE:PIPR) Reaches New 12-Month High at $269.34

Piper Sandler Companies (NYSE:PIPR) shares reached a new 52-week high during trading on Monday . The company traded as high as $269.34 and last traded at $272.22, with a volume of 3584 shares changing hands. The stock had previously closed at $267.64.

Wall Street Analysts Forecast Growth

Separately, JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a research report on Tuesday, June 11th.

Piper Sandler Companies Stock Up 0.8 %

The stock’s fifty day moving average price is $264.85. The company has a market cap of $4.77 billion, a P/E ratio of 45.92 and a beta of 1.39.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings results on Friday, August 2nd. The financial services provider reported $2.52 earnings per share (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 for the quarter, compared to the consensus estimate of $338.90 million. Piper Sandler Companies’s revenue was up 23.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.13 EPS. On average, equities analysts anticipate 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 announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 29th were paid 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 dividend on an annualized basis and a dividend yield of 0.96%. Piper Sandler Companies’s payout ratio is presently 44.22%.

Insider Activity at Piper Sandler Companies

In related news, insider Jonathan J. Doyle sold 12,695 shares of Piper Sandler Companies stock in a transaction that occurred on Monday, August 5th. The stock was 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 in the company, valued at $37,883,279.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, General Counsel John W. Geelan sold 1,789 shares of the business’s stock in a transaction 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 completion of the transaction, the general counsel now owns 15,065 shares in the company, valued at $3,867,637.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jonathan J. Doyle sold 12,695 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $37,883,279.85. The disclosure for this sale can be found here. Insiders have sold 16,276 shares of company stock worth $3,936,252 over the last 90 days. 3.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Piper Sandler Companies

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Blue Trust Inc. increased its position in Piper Sandler Companies by 194.7% in the second quarter. Blue Trust Inc. now owns 112 shares of the financial services provider’s stock worth $26,000 after buying an additional 74 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of Piper Sandler Companies by 62.1% in the fourth quarter. Parallel Advisors LLC now owns 167 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 64 shares during the period. nVerses Capital LLC increased its stake in shares of Piper Sandler Companies by 100.0% in the second quarter. nVerses Capital LLC now owns 200 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 100 shares in the last quarter. Mather Group LLC. bought a new stake in shares of Piper Sandler Companies during the 1st quarter valued at $64,000. Finally, Quadrant Capital Group LLC lifted its stake in shares of Piper Sandler Companies by 21.1% during the 4th quarter. Quadrant Capital Group LLC now owns 460 shares of the financial services provider’s stock valued at $80,000 after buying an additional 80 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.