Piper Sandler Companies’ (PIPR) “Market Perform” Rating Reaffirmed at JMP Securities

JMP Securities reiterated their market perform rating on shares of Piper Sandler Companies (NYSE:PIPR) in a report issued on Tuesday morning, Benzinga reports.

Piper Sandler Companies Stock Performance

NYSE PIPR traded up $3.03 during trading hours on Tuesday, hitting $274.47. 21,327 shares of the company traded hands, compared to its average volume of 107,701. The business’s 50-day moving average is $265.55 and its 200-day moving average is $248.06. Piper Sandler Companies has a twelve month low of $130.89 and a twelve month high of $280.45. The stock has a market capitalization of $4.86 billion, a price-to-earnings ratio of 46.68 and a beta of 1.40.

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, beating 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 prior year, the firm posted $1.13 earnings per share. The business’s quarterly revenue was up 23.7% compared to the same quarter last year. Analysts predict that Piper Sandler Companies will post 11.53 EPS for the current year.

Piper Sandler Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 29th were given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.95%. This is a boost from Piper Sandler Companies’s previous quarterly dividend of $0.60. The ex-dividend date was Thursday, August 29th. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 44.22%.

Insider Activity

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

Institutional Trading of Piper Sandler Companies

Hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its holdings in Piper Sandler Companies by 194.7% during the 2nd quarter. Blue Trust Inc. now owns 112 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 74 shares during the last quarter. Parallel Advisors LLC increased its stake 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 acquiring an additional 64 shares during the period. nVerses Capital LLC increased its stake in Piper Sandler Companies by 100.0% during the 2nd quarter. nVerses Capital LLC now owns 200 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 100 shares during the period. Mather Group LLC. bought a new position in Piper Sandler Companies during the 1st quarter worth $64,000. Finally, FSC Wealth Advisors LLC increased its stake in Piper Sandler Companies by 39.0% during the 2nd quarter. FSC Wealth Advisors LLC now owns 346 shares of the financial services provider’s stock worth $80,000 after acquiring an additional 97 shares during the period. 72.79% of the stock is 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.