Piper Sandler Companies (NYSE:PIPR) Hits New 12-Month High at $277.10

Piper Sandler Companies (NYSE:PIPR) reached a new 52-week high on Monday . The company traded as high as $277.10 and last traded at $275.24, with a volume of 1426 shares. The stock had previously closed at $273.95.

Analyst Ratings Changes

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

Piper Sandler Companies Price Performance

The company has a market capitalization of $4.83 billion, a PE ratio of 46.45 and a beta of 1.41. The stock’s 50 day moving average price is $261.93.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings results on Friday, August 2nd. The financial services provider reported $2.52 EPS for the quarter, topping the consensus estimate of $2.26 by $0.26. Piper Sandler Companies had a return on equity of 15.36% and a net margin of 9.23%. The firm had revenue of $357.00 million during the quarter, compared to analysts’ expectations of $338.90 million. During the same period in the previous year, the business earned $1.13 earnings per share. The firm’s revenue for the quarter was up 23.7% on a year-over-year basis. On average, research analysts expect that Piper Sandler Companies will post 11.53 earnings per share for the current fiscal year.

Piper Sandler Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Thursday, August 29th will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend is Thursday, August 29th. This is a boost from Piper Sandler Companies’s previous quarterly dividend of $0.60. Piper Sandler Companies’s dividend payout ratio is currently 44.22%.

Insider Buying and Selling at Piper Sandler Companies

In other news, insider Jonathan J. Doyle sold 12,695 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $236.63, for a total transaction of $3,004,017.85. Following the transaction, the insider now directly owns 160,095 shares in the company, valued at approximately $37,883,279.85. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Philip Soran sold 1,792 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $263.92, for a total transaction of $472,944.64. Following the transaction, the director now owns 18,341 shares of the company’s stock, valued at approximately $4,840,556.72. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Jonathan J. Doyle sold 12,695 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $236.63, for a total transaction of $3,004,017.85. Following the sale, the insider now owns 160,095 shares of the company’s stock, valued at $37,883,279.85. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,276 shares of company stock worth $3,936,252. Insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Piper Sandler Companies

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Piper Sandler Companies by 1.1% in the first quarter. Vanguard Group Inc. now owns 1,971,201 shares of the financial services provider’s stock valued at $391,264,000 after acquiring an additional 20,891 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Piper Sandler Companies by 1.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 506,340 shares of the financial services provider’s stock valued at $88,546,000 after purchasing an additional 5,851 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Piper Sandler Companies by 1.6% during the 4th quarter. Franklin Resources Inc. now owns 316,893 shares of the financial services provider’s stock worth $55,415,000 after purchasing an additional 5,089 shares during the period. Lord Abbett & CO. LLC increased its position in shares of Piper Sandler Companies by 7.4% during the 1st quarter. Lord Abbett & CO. LLC now owns 285,542 shares of the financial services provider’s stock worth $56,677,000 after purchasing an additional 19,662 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Piper Sandler Companies by 37.3% in the 4th 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. 72.79% of the stock is currently owned by institutional investors and hedge funds.

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.