Piper Sandler Companies (NYSE:PIPR) Trading Up 1.5% – Here’s What Happened

Shares of Piper Sandler Companies (NYSE:PIPR) traded up 1.5% on Tuesday . The company traded as high as $303.10 and last traded at $299.09. 117,450 shares traded hands during trading, an increase of 27% from the average session volume of 92,225 shares. The stock had previously closed at $294.59.

Wall Street Analysts Forecast Growth

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

Piper Sandler Companies Stock Up 1.5 %

The stock has a fifty day moving average of $282.04 and a two-hundred day moving average of $267.47. The stock has a market cap of $5.29 billion, a price-to-earnings ratio of 50.87 and a beta of 1.39.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings data on Friday, August 2nd. The financial services provider reported $2.52 earnings per share for the quarter, topping 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 firm had revenue of $357.00 million for the quarter, compared to analyst estimates of $338.90 million. During the same quarter in the prior year, the company posted $1.13 earnings per share. Piper Sandler Companies’s quarterly revenue was up 23.7% on a year-over-year basis. On average, research analysts expect that Piper Sandler Companies will post 11.53 EPS for the current year.

Piper Sandler Companies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders 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 yield of 0.87%. This is an increase from Piper Sandler Companies’s previous quarterly dividend of $0.60. The ex-dividend date was Thursday, August 29th. Piper Sandler Companies’s payout ratio is presently 44.22%.

Insiders Place Their Bets

In other Piper Sandler Companies news, Director Philip Soran sold 1,792 shares of the business’s stock in a transaction 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 sale, the director now directly owns 18,341 shares in the company, valued at approximately $4,840,556.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Piper Sandler Companies news, Director Philip Soran sold 1,792 shares of the business’s stock in a transaction 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 sale, the director now directly owns 18,341 shares in the company, valued at approximately $4,840,556.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 sale, the general counsel now owns 15,065 shares in the company, valued at approximately $3,867,637.45. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,276 shares of company stock worth $3,936,252. 3.00% of the stock is owned by corporate insiders.

Institutional Trading of Piper Sandler Companies

Institutional investors and hedge funds have recently made changes to their positions in the stock. New York State Teachers Retirement System lifted its position in shares of Piper Sandler Companies by 1.9% in the second quarter. New York State Teachers Retirement System now owns 32,149 shares of the financial services provider’s stock valued at $7,400,000 after acquiring an additional 610 shares in the last quarter. Millennium Management LLC increased its stake in Piper Sandler Companies by 66.0% in the second quarter. Millennium Management LLC now owns 77,804 shares of the financial services provider’s stock valued at $17,908,000 after purchasing an additional 30,942 shares during the last quarter. Vanguard Group Inc. increased its stake in Piper Sandler Companies by 0.8% in 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 purchasing an additional 15,075 shares during the last quarter. EntryPoint Capital LLC acquired a new position in Piper Sandler Companies in the first quarter valued at $90,000. Finally, Louisiana State Employees Retirement System increased its stake in Piper Sandler Companies by 4.0% in the second quarter. Louisiana State Employees Retirement System now owns 7,800 shares of the financial services provider’s stock valued at $1,795,000 after purchasing an additional 300 shares during the last quarter. 72.79% of the stock is currently owned by hedge funds and other institutional investors.

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.