Piper Sandler Companies (NYSE:PIPR) Sets New 1-Year High at $269.34

Piper Sandler Companies (NYSE:PIPR) hit a new 52-week high on Monday . The company traded as high as $269.34 and last traded at $272.22, with a volume of 3584 shares traded. The stock had previously closed at $267.64.

Wall Street Analysts Forecast Growth

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

Piper Sandler Companies Stock Performance

The firm’s fifty day moving average price is $264.85. The firm has a market cap of $4.77 billion, a price-to-earnings ratio of 45.92 and a beta of 1.39.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings data on Friday, August 2nd. The financial services provider reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.26. The business had revenue of $357.00 million for the quarter, compared to analyst estimates of $338.90 million. Piper Sandler Companies had a net margin of 9.23% and a return on equity of 15.36%. The firm’s quarterly revenue was up 23.7% on a year-over-year basis. During the same period last year, the business posted $1.13 earnings per share. Research analysts anticipate 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 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 0.96%. The ex-dividend date was Thursday, August 29th. This is a positive change from Piper Sandler Companies’s previous quarterly dividend of $0.60. Piper Sandler Companies’s payout ratio is currently 44.22%.

Insider Buying and Selling at Piper Sandler Companies

In related news, General Counsel John W. Geelan sold 1,789 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $256.73, for a total value of $459,289.97. Following the completion of the sale, the general counsel now directly owns 15,065 shares in the company, valued at approximately $3,867,637.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Jonathan J. Doyle sold 12,695 shares of the business’s stock in a transaction 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 in the company, valued at approximately $37,883,279.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel John W. Geelan sold 1,789 shares of the stock in a transaction that occurred 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 transaction, the general counsel now owns 15,065 shares in the company, valued at approximately $3,867,637.45. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,276 shares of company stock worth $3,936,252. Insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Heritage Wealth Management Inc. bought a new position in shares of Piper Sandler Companies in the 2nd quarter valued at $284,000. Creative Planning grew its position in Piper Sandler Companies by 20.9% in the second quarter. Creative Planning now owns 6,888 shares of the financial services provider’s stock valued at $1,585,000 after acquiring an additional 1,191 shares during the last quarter. Algert Global LLC grew its position in Piper Sandler Companies by 20.2% during the 2nd quarter. Algert Global LLC now owns 18,150 shares of the financial services provider’s stock worth $4,178,000 after acquiring an additional 3,050 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Piper Sandler Companies by 3.3% in the second quarter. The Manufacturers Life Insurance Company now owns 9,684 shares of the financial services provider’s stock valued at $2,229,000 after purchasing an additional 308 shares during the last quarter. Finally, Millennium Management LLC boosted its stake 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 valued at $17,908,000 after purchasing an additional 30,942 shares in the last quarter. 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.