Piper Sandler Companies’ (PIPR) “Market Perform” Rating Reaffirmed at JMP Securities

JMP Securities reissued their market perform rating on shares of Piper Sandler Companies (NYSE:PIPR) in a report issued on Tuesday morning, Benzinga reports.

Piper Sandler Companies Price Performance

Shares of Piper Sandler Companies stock opened at $286.99 on Tuesday. Piper Sandler Companies has a fifty-two week low of $130.89 and a fifty-two week high of $287.90. The firm has a fifty day moving average price of $268.21 and a two-hundred day moving average price of $251.63. The company has a market cap of $5.08 billion, a PE ratio of 48.81 and a beta of 1.39.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings data on Friday, August 2nd. The financial services provider reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $338.90 million. During the same quarter in the prior year, the company posted $1.13 EPS. The business’s revenue was up 23.7% on a year-over-year basis. Analysts expect that Piper Sandler Companies will post 11.53 earnings per share for the current fiscal year.

Piper Sandler Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 29th were paid a $0.65 dividend. This is a boost from Piper Sandler Companies’s previous quarterly dividend of $0.60. The ex-dividend date was Thursday, August 29th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.91%. Piper Sandler Companies’s dividend payout ratio is currently 44.22%.

Insider Buying and Selling

In other Piper Sandler Companies news, insider Jonathan J. Doyle sold 12,695 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now owns 160,095 shares in the company, valued at approximately $37,883,279.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Jonathan J. Doyle sold 12,695 shares of the company’s 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 completion of the sale, the insider now owns 160,095 shares in the company, valued at approximately $37,883,279.85. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Philip Soran sold 1,792 shares of the company’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 sale, the director now owns 18,341 shares of the company’s stock, valued at approximately $4,840,556.72. The disclosure for this sale can be found here. Insiders sold 16,276 shares of company stock worth $3,936,252 in the last quarter. 3.00% of the stock is owned by corporate insiders.

Institutional Trading of Piper Sandler Companies

Large investors have recently made changes to their positions in the company. Norges Bank bought a new position in Piper Sandler Companies during the 4th quarter worth about $21,023,000. Mairs & Power Inc. increased its holdings in Piper Sandler Companies by 210.8% during the 4th quarter. Mairs & Power Inc. now owns 123,095 shares of the financial services provider’s stock worth $21,526,000 after purchasing an additional 83,495 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Piper Sandler Companies by 37.3% during the 4th 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 in the last quarter. SageView Advisory Group LLC bought a new position in Piper Sandler Companies during the 1st quarter worth about $10,970,000. Finally, Mesirow Institutional Investment Management Inc. bought a new position in Piper Sandler Companies during the 2nd quarter worth about $10,139,000. Institutional investors own 72.79% of the company’s stock.

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.