Piper Sandler Companies (NYSE:PIPR) Releases Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Piper Sandler Companies (NYSE:PIPR) released its quarterly earnings data on Friday. The financial services provider reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.04, reports. Piper Sandler Companies had a return on equity of 15.36% and a net margin of 9.23%. The business had revenue of $359.57 million for the quarter, compared to analyst estimates of $365.07 million.

Piper Sandler Companies Stock Performance

Shares of PIPR opened at $280.53 on Friday. Piper Sandler Companies has a 52 week low of $131.89 and a 52 week high of $306.10. The stock has a market capitalization of $4.97 billion, a price-to-earnings ratio of 47.71 and a beta of 1.39. The stock has a fifty day moving average of $289.47 and a 200-day moving average of $273.40.

Piper Sandler Companies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 29th were issued a dividend of $0.65 per share. The ex-dividend date of this dividend was 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 dividend yield of 0.93%. Piper Sandler Companies’s dividend payout ratio is 44.22%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other Piper Sandler Companies news, General Counsel John W. Geelan sold 1,789 shares of the 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 in the company, valued at approximately $3,867,637.45. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Piper Sandler Companies news, General Counsel John W. Geelan sold 1,789 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $3,867,637.45. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jonathan J. Doyle sold 12,695 shares of the firm’s 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 transaction, the insider now directly owns 160,095 shares of the company’s stock, valued at $37,883,279.85. The trade was 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 worth $3,936,252 in the last 90 days. Insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. New York State Teachers Retirement System raised its position in shares of Piper Sandler Companies by 1.9% during the second quarter. New York State Teachers Retirement System now owns 32,149 shares of the financial services provider’s stock worth $7,400,000 after acquiring an additional 610 shares during the last quarter. Millennium Management LLC raised its holdings in Piper Sandler Companies by 66.0% during the 2nd quarter. Millennium Management LLC now owns 77,804 shares of the financial services provider’s stock worth $17,908,000 after purchasing an additional 30,942 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Piper Sandler Companies by 0.8% in the 4th 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. EntryPoint Capital LLC bought a new stake in shares of Piper Sandler Companies in the 1st quarter valued at $90,000. Finally, Louisiana State Employees Retirement System increased its position in shares of Piper Sandler Companies by 4.0% during the second quarter. Louisiana State Employees Retirement System now owns 7,800 shares of the financial services provider’s stock worth $1,795,000 after buying an additional 300 shares during the period. 72.79% of the stock is 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.