Piper Sandler Companies (NYSE:PIPR) Sets New 1-Year High at $231.50

Shares of Piper Sandler Companies (NYSE:PIPR) hit a new 52-week high during trading on Monday . The stock traded as high as $231.50 and last traded at $229.38, with a volume of 3788 shares trading hands. The stock had previously closed at $230.17.

Analyst Upgrades and Downgrades

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

Piper Sandler Companies Stock Down 1.1 %

The firm has a market cap of $4.03 billion, a price-to-earnings ratio of 39.14 and a beta of 1.41. The company has a 50 day moving average price of $211.37.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings results on Friday, April 26th. The financial services provider reported $2.79 EPS for the quarter, topping the consensus estimate of $1.89 by $0.90. The company had revenue of $335.29 million for the quarter, compared to the consensus estimate of $314.97 million. Piper Sandler Companies had a return on equity of 13.65% and a net margin of 7.33%. The company’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same period in the previous year, the business posted $2.35 EPS. As a group, analysts forecast that Piper Sandler Companies will post 11.82 earnings per share for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 24th were given a $0.60 dividend. The ex-dividend date was Thursday, May 23rd. This represents a $2.40 annualized dividend and a yield of 1.05%. Piper Sandler Companies’s dividend payout ratio is 40.82%.

Insider Activity

In related news, General Counsel John W. Geelan sold 1,570 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $211.14, for a total transaction of $331,489.80. Following the transaction, the general counsel now directly owns 16,854 shares in the company, valued at $3,558,553.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, President Debbra L. Schoneman sold 1,022 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $213.27, for a total value of $217,961.94. Following the sale, the president now owns 43,083 shares of the company’s stock, valued at $9,188,311.41. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel John W. Geelan sold 1,570 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $211.14, for a total transaction of $331,489.80. Following the transaction, the general counsel now owns 16,854 shares of the company’s stock, valued at approximately $3,558,553.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,570 shares of company stock valued at $1,393,941. Insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Piper Sandler Companies

Large investors have recently modified their holdings of the stock. Envestnet Portfolio Solutions Inc. bought a new position in shares of Piper Sandler Companies during the 3rd quarter worth approximately $236,000. Envestnet Asset Management Inc. raised its stake in Piper Sandler Companies by 48.8% during the third quarter. Envestnet Asset Management Inc. now owns 54,466 shares of the financial services provider’s stock worth $7,914,000 after acquiring an additional 17,869 shares in the last quarter. FMR LLC lifted its holdings in shares of Piper Sandler Companies by 10.8% during the third quarter. FMR LLC now owns 153,040 shares of the financial services provider’s stock valued at $22,238,000 after acquiring an additional 14,977 shares during the period. Mariner LLC boosted its stake in shares of Piper Sandler Companies by 5.2% in the 3rd quarter. Mariner LLC now owns 5,166 shares of the financial services provider’s stock valued at $751,000 after purchasing an additional 256 shares in the last quarter. Finally, Natixis Advisors L.P. grew its holdings in shares of Piper Sandler Companies by 7.5% in the 3rd quarter. Natixis Advisors L.P. now owns 15,300 shares of the financial services provider’s stock worth $2,223,000 after purchasing an additional 1,067 shares during the last quarter. 72.79% of the stock is currently owned by institutional investors.

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.