Piper Sandler Companies (NYSE:PIPR) Hits New 1-Year High at $272.31

Piper Sandler Companies (NYSE:PIPR) shares hit a new 52-week high on Monday . The stock traded as high as $272.31 and last traded at $268.94, with a volume of 1373 shares trading hands. The stock had previously closed at $268.01.

Analyst Ratings Changes

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

Piper Sandler Companies Stock Performance

The firm’s 50-day moving average price is $259.75. The firm has a market capitalization of $4.69 billion, a P/E ratio of 45.45 and a beta of 1.41.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings data on Friday, August 2nd. The financial services provider reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.26. Piper Sandler Companies had a net margin of 9.23% and a return on equity of 15.36%. The firm had revenue of $357.00 million during the quarter, compared to the consensus estimate of $338.90 million. During the same quarter in the previous year, the firm posted $1.13 EPS. The business’s revenue for the quarter was up 23.7% compared to the same quarter last year. As a group, equities analysts forecast that Piper Sandler Companies will post 11.53 earnings per share for the current fiscal year.

Piper Sandler Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Thursday, August 29th will be paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend is Thursday, August 29th. This is a positive change from Piper Sandler Companies’s previous quarterly dividend of $0.60. Piper Sandler Companies’s dividend payout ratio (DPR) is 40.82%.

Insider Buying and Selling at Piper Sandler Companies

In other news, General Counsel John W. Geelan sold 1,789 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $256.73, for a total transaction of $459,289.97. Following the sale, the general counsel now directly owns 15,065 shares of the company’s stock, valued at approximately $3,867,637.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Piper Sandler Companies news, insider Jonathan J. Doyle sold 12,695 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $236.63, for a total transaction of $3,004,017.85. Following the completion of the transaction, the insider now directly owns 160,095 shares in the company, valued at $37,883,279.85. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 sale, the general counsel now owns 15,065 shares of the company’s stock, valued at $3,867,637.45. The disclosure for this sale can be found here. Insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Piper Sandler Companies

A number of institutional investors have recently modified their holdings of the business. Creative Planning grew its holdings in shares of Piper Sandler Companies by 20.9% during the 2nd quarter. Creative Planning now owns 6,888 shares of the financial services provider’s stock valued at $1,585,000 after purchasing an additional 1,191 shares during the last quarter. Algert Global LLC boosted its position in Piper Sandler Companies by 20.2% in the second quarter. Algert Global LLC now owns 18,150 shares of the financial services provider’s stock valued at $4,178,000 after buying an additional 3,050 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Piper Sandler Companies by 3.3% during the second quarter. The Manufacturers Life Insurance Company now owns 9,684 shares of the financial services provider’s stock worth $2,229,000 after buying an additional 308 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Piper Sandler Companies by 66.0% during the second quarter. Millennium Management LLC now owns 77,804 shares of the financial services provider’s stock worth $17,908,000 after buying an additional 30,942 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of Piper Sandler Companies by 10.9% in the 2nd quarter. AQR Capital Management LLC now owns 2,254 shares of the financial services provider’s stock valued at $519,000 after acquiring an additional 222 shares during the last quarter. 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.