Piper Sandler Companies (NYSE:PIPR) Trading Down 0.5%

Piper Sandler Companies (NYSE:PIPR) shares were down 0.5% during mid-day trading on Tuesday . The company traded as low as $229.68 and last traded at $230.90. Approximately 180,479 shares traded hands during trading, an increase of 71% from the average daily volume of 105,597 shares. The stock had previously closed at $231.98.

Analyst Ratings Changes

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

Piper Sandler Companies Stock Performance

The company has a market capitalization of $4.09 billion, a P/E ratio of 39.27 and a beta of 1.41. The stock has a 50 day moving average price of $212.92 and a 200 day moving average price of $205.37.

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

Piper Sandler Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 24th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date was Thursday, May 23rd. Piper Sandler Companies’s payout ratio is 40.82%.

Insider Transactions at Piper Sandler Companies

In related news, President Debbra L. Schoneman sold 1,022 shares of the business’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $213.27, for a total value of $217,961.94. Following the sale, the president now directly owns 43,083 shares in the company, valued at approximately $9,188,311.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, President Debbra L. Schoneman sold 3,978 shares of the business’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $212.29, for a total value of $844,489.62. Following the sale, the president now directly owns 44,105 shares in the company, valued at approximately $9,363,050.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Debbra L. Schoneman sold 1,022 shares of the business’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 completion of the sale, the president now owns 43,083 shares in the company, valued at $9,188,311.41. The disclosure for this sale can be found here. Insiders have sold 6,570 shares of company stock worth $1,393,941 in the last ninety days. Company insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Piper Sandler Companies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Piper Sandler Companies during the fourth quarter valued at about $21,023,000. Mairs & Power Inc. increased its position in shares of 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 valued at $21,526,000 after buying an additional 83,495 shares during the period. Goldman Sachs Group Inc. increased its position in shares of 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 valued at $38,583,000 after buying an additional 59,915 shares during the period. SageView Advisory Group LLC bought a new stake in shares of Piper Sandler Companies during the first quarter valued at about $10,970,000. Finally, Edgestream Partners L.P. increased its position in shares of Piper Sandler Companies by 295.6% during the first quarter. Edgestream Partners L.P. now owns 29,404 shares of the financial services provider’s stock valued at $5,836,000 after buying an additional 21,972 shares during the period. 72.79% of the stock is currently owned by 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.