Piper Sandler Companies (NYSE:PIPR) Stock Price Up 2.6% – Here’s What Happened

Shares of Piper Sandler Companies (NYSE:PIPR) shot up 2.6% on Tuesday . The company traded as high as $292.02 and last traded at $290.63. 100,702 shares changed hands during mid-day trading, a decline of 4% from the average session volume of 104,636 shares. The stock had previously closed at $283.29.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PIPR. JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a research note on Tuesday, September 17th. StockNews.com lowered shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Monday, October 28th.

Piper Sandler Companies Stock Up 2.6 %

The business has a fifty day moving average of $290.24 and a 200 day moving average of $275.34. The firm has a market cap of $5.14 billion, a P/E ratio of 31.05 and a beta of 1.39.

Piper Sandler Companies (NYSE:PIPR) last issued its earnings results on Friday, October 25th. The financial services provider reported $2.57 EPS for the quarter, topping the consensus estimate of $2.53 by $0.04. Piper Sandler Companies had a return on equity of 16.18% and a net margin of 10.84%. The company had revenue of $359.57 million during the quarter, compared to the consensus estimate of $365.07 million. Research analysts expect that Piper Sandler Companies will post 11.49 EPS for the current year.

Piper Sandler Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 22nd will be given a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.89%. The ex-dividend date is Friday, November 22nd. Piper Sandler Companies’s payout ratio is presently 27.78%.

Insider Buying and Selling

In other Piper Sandler Companies news, General Counsel John W. Geelan sold 1,789 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $256.73, for a total value of $459,289.97. Following the transaction, the general counsel now directly owns 15,065 shares of the company’s stock, valued at $3,867,637.45. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Piper Sandler Companies news, General Counsel John W. Geelan sold 1,789 shares of the company’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 transaction, the general counsel now directly owns 15,065 shares of the company’s stock, valued at $3,867,637.45. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Philip Soran sold 1,792 shares of Piper Sandler Companies 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 sale, the director now directly owns 18,341 shares of the company’s stock, valued at $4,840,556.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in PIPR. Victory Capital Management Inc. lifted its position in shares of Piper Sandler Companies by 20.6% during the 3rd quarter. Victory Capital Management Inc. now owns 15,889 shares of the financial services provider’s stock valued at $4,509,000 after acquiring an additional 2,713 shares during the period. Versor Investments LP bought a new stake in Piper Sandler Companies during the third quarter worth about $880,000. Crossmark Global Holdings Inc. grew its stake in Piper Sandler Companies by 42.0% during the third quarter. Crossmark Global Holdings Inc. now owns 1,548 shares of the financial services provider’s stock worth $439,000 after buying an additional 458 shares in the last quarter. Concurrent Investment Advisors LLC acquired a new stake in Piper Sandler Companies during the third quarter worth about $201,000. Finally, Harbor Capital Advisors Inc. increased its holdings in Piper Sandler Companies by 1.1% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 5,010 shares of the financial services provider’s stock valued at $1,422,000 after buying an additional 56 shares during the period. Institutional investors and hedge funds 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.