Piper Sandler Companies (NYSE:PIPR) Hits New 52-Week High at $277.10

Piper Sandler Companies (NYSE:PIPR) reached a new 52-week high on Monday . The company traded as high as $277.10 and last traded at $275.24, with a volume of 1426 shares traded. The stock had previously closed at $273.95.

Analyst Ratings Changes

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

Piper Sandler Companies Trading Down 0.3 %

The stock has a market capitalization of $4.83 billion, a price-to-earnings ratio of 46.45 and a beta of 1.41. The company’s 50 day moving average is $261.93.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings results on Friday, August 2nd. The financial services provider reported $2.52 EPS for the quarter, topping the consensus estimate of $2.26 by $0.26. Piper Sandler Companies had a net margin of 9.23% and a return on equity of 15.36%. The company had revenue of $357.00 million for the quarter, compared to analyst estimates of $338.90 million. During the same quarter in the prior year, the business posted $1.13 EPS. Piper Sandler Companies’s quarterly revenue was up 23.7% on a year-over-year basis. As a group, sell-side analysts forecast that Piper Sandler Companies will post 11.53 earnings per share for the current fiscal year.

Piper Sandler Companies Increases Dividend

The business also recently announced 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. 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 0.95%. The ex-dividend date of this dividend is Thursday, August 29th. Piper Sandler Companies’s dividend payout ratio (DPR) is 44.22%.

Insiders Place Their Bets

In other 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 transaction of $459,289.97. Following the transaction, the general counsel now owns 15,065 shares of the company’s stock, valued at approximately $3,867,637.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related 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 value of $3,004,017.85. Following the transaction, the insider now owns 160,095 shares in the company, valued at approximately $37,883,279.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel John W. Geelan sold 1,789 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $256.73, for a total transaction of $459,289.97. Following the transaction, the general counsel now directly owns 15,065 shares of the company’s stock, valued at approximately $3,867,637.45. The disclosure for this sale can be found here. Insiders sold 16,276 shares of company stock valued at $3,936,252 over the last quarter. Insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Piper Sandler Companies

Several hedge funds and other institutional investors have recently made changes to their positions in PIPR. Blue Trust Inc. boosted its stake in Piper Sandler Companies by 194.7% during the 2nd quarter. Blue Trust Inc. now owns 112 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 74 shares during the period. GAMMA Investing LLC bought a new stake in shares of Piper Sandler Companies in the fourth quarter valued at approximately $29,000. Parallel Advisors LLC grew its stake in shares of Piper Sandler Companies by 62.1% in the fourth quarter. Parallel Advisors LLC now owns 167 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 64 shares during the last quarter. nVerses Capital LLC increased its position in 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 period. Finally, Mather Group LLC. acquired a new position in Piper Sandler Companies during the 1st quarter valued at $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.