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

Piper Sandler Companies (NYSE:PIPR) released its quarterly earnings results on Friday. The financial services provider reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $365.07 million.

Piper Sandler Companies Stock Down 3.1 %

Shares of PIPR opened at $280.53 on Friday. The firm has a market capitalization of $4.97 billion, a PE ratio of 47.71 and a beta of 1.39. Piper Sandler Companies has a 12-month low of $131.89 and a 12-month high of $306.10. The stock’s fifty day simple moving average is $289.47 and its 200-day simple moving average is $273.40.

Piper Sandler Companies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 29th were given a dividend of $0.65 per share. The ex-dividend date was Thursday, August 29th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.93%. This is an increase from Piper Sandler Companies’s previous quarterly dividend of $0.60. Piper Sandler Companies’s payout ratio is presently 44.22%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other Piper Sandler Companies news, Director Philip Soran sold 1,792 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $263.92, for a total value of $472,944.64. Following the transaction, the director now directly owns 18,341 shares of the company’s stock, valued at $4,840,556.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Piper Sandler Companies news, Director Philip Soran sold 1,792 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $263.92, for a total value of $472,944.64. Following the completion of the sale, the director now owns 18,341 shares of the company’s stock, valued at $4,840,556.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel John W. Geelan sold 1,789 shares of the stock in a transaction that occurred 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 owns 15,065 shares in the company, valued at approximately $3,867,637.45. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,276 shares of company stock valued at $3,936,252. Insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Piper Sandler Companies

A number of hedge funds have recently added to or reduced their stakes in the stock. Moody Aldrich Partners LLC grew its holdings in shares of Piper Sandler Companies by 14.8% during the 3rd quarter. Moody Aldrich Partners LLC now owns 24,202 shares of the financial services provider’s stock worth $6,869,000 after purchasing an additional 3,124 shares in the last quarter. Raymond James & Associates lifted its position in Piper Sandler Companies by 5.3% during the third quarter. Raymond James & Associates now owns 29,325 shares of the financial services provider’s stock worth $8,323,000 after purchasing an additional 1,484 shares during the period. Blue Trust Inc. grew its stake in Piper Sandler Companies by 486.6% during the third quarter. Blue Trust Inc. now owns 657 shares of the financial services provider’s stock worth $186,000 after buying an additional 545 shares in the last quarter. ZWJ Investment Counsel Inc. bought a new position in Piper Sandler Companies in the 3rd quarter valued at about $222,000. Finally, Creative Planning increased its holdings in Piper Sandler Companies by 34.8% in the 3rd quarter. Creative Planning now owns 9,287 shares of the financial services provider’s stock valued at $2,636,000 after buying an additional 2,399 shares during the period. Institutional investors own 72.79% of the company’s stock.

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.