Piper Sandler Companies (NYSE:PIPR) Reaches New 12-Month High – Still a Buy?

Shares of Piper Sandler Companies (NYSE:PIPR) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $293.51 and last traded at $291.20, with a volume of 319 shares changing hands. The stock had previously closed at $292.75.

Wall Street Analysts Forecast Growth

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

Piper Sandler Companies Stock Performance

The company’s 50 day moving average price is $279.11. The company has a market cap of $5.18 billion, a PE ratio of 49.79 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 company had revenue of $357.00 million for the quarter, compared to analysts’ expectations of $338.90 million. Piper Sandler Companies had a return on equity of 15.36% and a net margin of 9.23%. The firm’s quarterly revenue was up 23.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.13 earnings per share. Research analysts predict that Piper Sandler Companies will post 11.53 EPS for the current year.

Piper Sandler Companies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 29th were paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.89%. This is a positive change from Piper Sandler Companies’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Thursday, August 29th. Piper Sandler Companies’s payout ratio is presently 44.22%.

Insider Buying and Selling

In other Piper Sandler Companies news, insider Jonathan J. Doyle sold 12,695 shares of Piper Sandler Companies stock in a transaction on Monday, August 5th. The shares were sold at an average price of $236.63, for a total transaction of $3,004,017.85. Following the completion of the sale, the insider now owns 160,095 shares of the company’s stock, valued at $37,883,279.85. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, General Counsel John W. Geelan sold 1,789 shares of Piper Sandler Companies stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $256.73, for a total value of $459,289.97. Following the completion of the transaction, the general counsel now directly owns 15,065 shares of the company’s stock, valued at $3,867,637.45. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jonathan J. Doyle sold 12,695 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $236.63, for a total transaction of $3,004,017.85. Following the transaction, the insider now owns 160,095 shares in the company, valued at $37,883,279.85. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,276 shares of company stock worth $3,936,252. Corporate insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PIPR. Goldman Sachs Group Inc. raised its position in shares of Piper Sandler Companies by 37.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 220,638 shares of the financial services provider’s stock worth $38,583,000 after purchasing an additional 59,915 shares during the period. Vanguard Group Inc. increased its position in shares of Piper Sandler Companies by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 1,950,310 shares of the financial services provider’s stock worth $341,051,000 after purchasing an additional 15,075 shares during the period. HighPoint Advisor Group LLC acquired a new position in shares of Piper Sandler Companies in the 4th quarter valued at approximately $271,000. Mather Group LLC. acquired a new stake in shares of Piper Sandler Companies in the 1st quarter valued at $64,000. Finally, Wealthcare Advisory Partners LLC bought a new stake in shares of Piper Sandler Companies during the 1st quarter valued at approximately $298,000. 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.