Piper Sandler Companies (NYSE:PIPR) Director Philip Soran Sells 1,792 Shares

Piper Sandler Companies (NYSE:PIPR) Director Philip Soran sold 1,792 shares of the company’s stock in a transaction dated 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 $4,840,556.72. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Piper Sandler Companies Price Performance

Shares of Piper Sandler Companies stock traded up $1.55 on Wednesday, reaching $264.96. 63,600 shares of the company traded hands, compared to its average volume of 110,163. Piper Sandler Companies has a 52 week low of $130.89 and a 52 week high of $280.45. The company has a 50 day moving average of $260.79 and a 200 day moving average of $233.03. The firm has a market capitalization of $4.69 billion, a PE ratio of 45.06 and a beta of 1.41.

Piper Sandler Companies (NYSE:PIPR) last released its earnings results on Friday, August 2nd. The financial services provider reported $2.52 earnings per share 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 period in the prior year, the firm earned $1.13 EPS. The company’s revenue was up 23.7% compared to the same quarter last year. As a group, analysts anticipate that Piper Sandler Companies will post 11.53 earnings per share for the current year.

Piper Sandler Companies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Thursday, August 29th will be given a dividend of $0.65 per share. This is an increase from Piper Sandler Companies’s previous quarterly dividend of $0.60. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend is Thursday, August 29th. Piper Sandler Companies’s dividend payout ratio is currently 44.22%.

Institutional Trading of Piper Sandler Companies

A number of institutional investors have recently modified their holdings of PIPR. Cerity Partners LLC purchased a new stake in shares of Piper Sandler Companies during the 4th quarter valued at approximately $218,000. Wedge Capital Management L L P NC lifted its stake in Piper Sandler Companies by 1.9% in the 4th quarter. Wedge Capital Management L L P NC now owns 3,572 shares of the financial services provider’s stock worth $625,000 after purchasing an additional 67 shares in the last quarter. GAMMA Investing LLC purchased a new stake in Piper Sandler Companies in the 4th quarter worth approximately $29,000. Truist Financial Corp lifted its stake in Piper Sandler Companies by 3.7% in the 4th quarter. Truist Financial Corp now owns 27,772 shares of the financial services provider’s stock worth $4,856,000 after purchasing an additional 999 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Piper Sandler Companies by 3.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 187,310 shares of the financial services provider’s stock worth $32,755,000 after purchasing an additional 6,652 shares in the last quarter. 72.79% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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.