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

Piper Sandler Companies (NYSE:PIPR) Director Philip Soran sold 1,792 shares of the firm’s 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 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 document filed with the Securities & Exchange Commission, which is available at this link.

Piper Sandler Companies Stock Up 0.6 %

PIPR stock traded up $1.55 during mid-day trading on Wednesday, reaching $264.96. The company had a trading volume of 63,600 shares, compared to its average volume of 110,163. The stock has a market capitalization of $4.69 billion, a P/E ratio of 45.06 and a beta of 1.41. Piper Sandler Companies has a one year low of $130.89 and a one year high of $280.45. The stock’s 50-day simple moving average is $260.79 and its two-hundred day simple moving average is $233.03.

Piper Sandler Companies (NYSE:PIPR) last posted its earnings results on Friday, August 2nd. The financial services provider reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $338.90 million. During the same period last year, the business posted $1.13 earnings per share. The firm’s quarterly revenue was up 23.7% compared to the same quarter last year. On average, research analysts forecast that Piper Sandler Companies will post 11.53 EPS for the current fiscal year.

Piper Sandler Companies Increases Dividend

The business 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 is a boost 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 is Thursday, August 29th. Piper Sandler Companies’s payout ratio is currently 44.22%.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Piper Sandler Companies

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of Montreal Can raised its stake in shares of Piper Sandler Companies by 2.1% during the second quarter. Bank of Montreal Can now owns 2,262 shares of the financial services provider’s stock valued at $524,000 after purchasing an additional 46 shares in the last quarter. Xponance Inc. raised its stake in shares of Piper Sandler Companies by 4.6% during the second quarter. Xponance Inc. now owns 1,101 shares of the financial services provider’s stock valued at $253,000 after purchasing an additional 48 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in shares of Piper Sandler Companies by 2.4% during the second quarter. Commonwealth Equity Services LLC now owns 2,340 shares of the financial services provider’s stock valued at $539,000 after purchasing an additional 54 shares in the last quarter. Oliver Luxxe Assets LLC raised its stake in shares of Piper Sandler Companies by 1.1% during the first quarter. Oliver Luxxe Assets LLC now owns 5,954 shares of the financial services provider’s stock valued at $1,182,000 after purchasing an additional 62 shares in the last quarter. Finally, Parallel Advisors LLC raised its stake in shares of Piper Sandler Companies by 62.1% during the fourth quarter. Parallel Advisors LLC now owns 167 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 64 shares in the last quarter. 72.79% of the stock is currently owned by institutional investors.

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.