Piper Sandler Companies (NYSE:PIPR) Sets New 12-Month High at $272.80

Shares of Piper Sandler Companies (NYSE:PIPR) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $272.80 and last traded at $269.72, with a volume of 970 shares trading hands. The stock had previously closed at $272.70.

Analysts Set New Price Targets

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

Piper Sandler Companies Stock Performance

The firm has a market capitalization of $4.67 billion, a price-to-earnings ratio of 45.84 and a beta of 1.41. The stock’s fifty day moving average is $262.54 and its two-hundred day moving average is $240.57.

Piper Sandler Companies (NYSE:PIPR) last announced its earnings results on Friday, August 2nd. The financial services provider reported $2.52 earnings per share 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 company had revenue of $357.00 million during the quarter, compared to the consensus estimate of $338.90 million. During the same period last year, the firm earned $1.13 earnings per share. The company’s revenue was up 23.7% on a year-over-year basis. 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Thursday, August 29th will be issued a dividend of $0.65 per share. The ex-dividend date is Thursday, August 29th. This is an increase from Piper Sandler Companies’s previous quarterly dividend of $0.60. This represents a $2.60 annualized dividend and a yield of 0.98%. Piper Sandler Companies’s payout ratio is currently 44.22%.

Insider Activity

In other Piper Sandler Companies news, Director Philip Soran sold 1,792 shares of the firm’s stock in a transaction on 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 directly owns 18,341 shares of the company’s stock, valued at approximately $4,840,556.72. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Piper Sandler Companies news, Director Philip Soran sold 1,792 shares of the 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 transaction, the director now 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 SEC, which is available at this link. 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 completion of the transaction, the insider now owns 160,095 shares of the company’s stock, valued at approximately $37,883,279.85. The disclosure for this sale can be found here. In the last three months, insiders sold 16,276 shares of company stock worth $3,936,252. 3.00% of the stock is currently owned by insiders.

Institutional Trading of Piper Sandler Companies

A number of institutional investors and hedge funds have recently modified their holdings of PIPR. Blue Trust Inc. lifted its holdings in shares of Piper Sandler Companies by 194.7% in 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. GAMMA Investing LLC bought a new stake in Piper Sandler Companies in the fourth quarter valued at $29,000. Parallel Advisors LLC boosted its holdings 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 acquiring an additional 64 shares during the period. nVerses Capital LLC grew its position in shares of Piper Sandler Companies by 100.0% during 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. Finally, Mather Group LLC. bought a new position in shares of Piper Sandler Companies during the first quarter worth about $64,000. 72.79% of the stock is 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.