Piper Sandler Companies (NYSE:PIPR) Hits New 52-Week High – What’s Next?

Shares of Piper Sandler Companies (NYSE:PIPR) reached a new 52-week high during trading on Monday . The company traded as high as $306.10 and last traded at $300.96, with a volume of 1883 shares trading hands. The stock had previously closed at $303.20.

Analysts Set New Price Targets

Separately, JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, September 17th.

Piper Sandler Companies Stock Performance

The company’s 50 day moving average is $287.03. The stock has a market capitalization of $5.33 billion, a price-to-earnings ratio of 51.56 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 earnings per share 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 company had revenue of $357.00 million during the quarter, compared to analyst estimates of $338.90 million. During the same period in the prior year, the business posted $1.13 earnings per share. The firm’s revenue for the quarter was up 23.7% compared to the same quarter last year. Sell-side 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 disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 29th were issued a $0.65 dividend. This is a positive change from Piper Sandler Companies’s previous quarterly dividend of $0.60. This represents a $2.60 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend was Thursday, August 29th. Piper Sandler Companies’s payout ratio is 44.22%.

Insider Buying and Selling at Piper Sandler Companies

In other news, Director Philip Soran sold 1,792 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 18,341 shares in the company, valued at $4,840,556.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Piper Sandler Companies news, General Counsel John W. Geelan sold 1,789 shares of the business’s stock in a transaction on Friday, August 9th. The shares were 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 in the company, valued at approximately $3,867,637.45. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Philip Soran sold 1,792 shares of the 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 completion of the transaction, the director now owns 18,341 shares of the company’s stock, valued at $4,840,556.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,276 shares of company stock valued at $3,936,252 over the last 90 days. 3.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PIPR. Blue Trust Inc. raised its holdings in Piper Sandler Companies by 194.7% during the second 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. nVerses Capital LLC raised its holdings in shares of Piper Sandler Companies by 100.0% in the second 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 last quarter. USA Financial Formulas purchased a new stake in shares of Piper Sandler Companies in the third quarter valued at $77,000. CWM LLC boosted its stake in shares of Piper Sandler Companies by 22.5% during the third quarter. CWM LLC now owns 310 shares of the financial services provider’s stock valued at $88,000 after acquiring an additional 57 shares during the last quarter. Finally, Mather Group LLC. acquired a new position in Piper Sandler Companies in the 1st quarter valued at about $64,000. 72.79% of the stock is currently owned by institutional investors and hedge funds.

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.