Piper Sandler Companies (NYSE:PIPR) Hits New 52-Week High at $248.61

Piper Sandler Companies (NYSE:PIPR) reached a new 52-week high on Monday . The stock traded as high as $248.61 and last traded at $246.25, with a volume of 6040 shares changing hands. The stock had previously closed at $242.91.

Analysts Set New Price Targets

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

Piper Sandler Companies Price Performance

The firm has a 50 day simple moving average of $221.37. The company has a market capitalization of $4.39 billion, a price-to-earnings ratio of 41.31 and a beta of 1.41.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings data on Friday, April 26th. The financial services provider reported $2.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.90. The firm had revenue of $335.29 million during the quarter, compared to analysts’ expectations of $314.97 million. Piper Sandler Companies had a net margin of 7.33% and a return on equity of 13.65%. Piper Sandler Companies’s revenue was up 15.5% compared to the same quarter last year. During the same period last year, the business earned $2.35 earnings per share. Analysts predict that Piper Sandler Companies will post 11.82 EPS for the current year.

Piper Sandler Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Investors 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 0.97%. Piper Sandler Companies’s payout ratio is 40.82%.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Piper Sandler Companies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Oliver Luxxe Assets LLC grew its position in shares of Piper Sandler Companies by 1.1% during the first quarter. Oliver Luxxe Assets LLC now owns 5,954 shares of the financial services provider’s stock worth $1,182,000 after acquiring an additional 62 shares during the last quarter. Parallel Advisors LLC grew its position in Piper Sandler Companies by 62.1% during the 4th 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 last quarter. Wedge Capital Management L L P NC increased its stake in Piper Sandler Companies by 1.9% in the fourth quarter. Wedge Capital Management L L P NC now owns 3,572 shares of the financial services provider’s stock valued at $625,000 after purchasing an additional 67 shares during the period. 1492 Capital Management LLC raised its holdings in shares of Piper Sandler Companies by 1.1% in the fourth quarter. 1492 Capital Management LLC now owns 6,399 shares of the financial services provider’s stock valued at $1,119,000 after buying an additional 68 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its holdings in shares of Piper Sandler Companies by 21.1% in the fourth 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 during 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.