Piper Sandler Companies (NYSE:PIPR) Hits New 12-Month High at $215.12

Piper Sandler Companies (NYSE:PIPR)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $215.12 and last traded at $210.80, with a volume of 1108 shares trading hands. The stock had previously closed at $210.78.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. StockNews.com raised Piper Sandler Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, February 28th. JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, June 11th.

Piper Sandler Companies Price Performance

The firm’s fifty day moving average price is $210.08. The stock has a market capitalization of $3.78 billion, a price-to-earnings ratio of 35.85 and a beta of 1.38.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings data on Friday, April 26th. The financial services provider reported $2.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.90. Piper Sandler Companies had a return on equity of 13.65% and a net margin of 7.33%. The business had revenue of $335.29 million for the quarter, compared to analyst estimates of $314.97 million. During the same period in the prior year, the company earned $2.35 earnings per share. The company’s revenue was up 15.5% on a year-over-year basis. On average, analysts forecast that Piper Sandler Companies will post 11.82 EPS for the current year.

Piper Sandler Companies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 24th were paid a $0.60 dividend. The ex-dividend date was Thursday, May 23rd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.12%. Piper Sandler Companies’s payout ratio is 40.82%.

Insider Transactions at Piper Sandler Companies

In other news, General Counsel John W. Geelan sold 1,570 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $211.14, for a total value of $331,489.80. Following the sale, the general counsel now owns 16,854 shares in the company, valued at $3,558,553.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Piper Sandler Companies news, President Debbra L. Schoneman sold 1,022 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $213.27, for a total transaction of $217,961.94. Following the transaction, the president now owns 43,083 shares in the company, valued at $9,188,311.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel John W. Geelan sold 1,570 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $211.14, for a total value of $331,489.80. Following the transaction, the general counsel now owns 16,854 shares in the company, valued at approximately $3,558,553.56. The disclosure for this sale can be found here. Insiders have sold 6,570 shares of company stock worth $1,393,941 over the last quarter. 3.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Piper Sandler Companies

Hedge funds have recently made changes to their positions in the company. TFO Wealth Partners LLC raised its holdings in shares of Piper Sandler Companies by 172,500.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,726 shares of the financial services provider’s stock valued at $302,000 after acquiring an additional 1,725 shares during the last quarter. 1492 Capital Management LLC raised its holdings in shares of Piper Sandler Companies by 1.1% during the fourth quarter. 1492 Capital Management LLC now owns 6,399 shares of the financial services provider’s stock valued at $1,119,000 after acquiring an additional 68 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Piper Sandler Companies by 0.5% during the third quarter. Vanguard Group Inc. now owns 1,935,235 shares of the financial services provider’s stock valued at $281,209,000 after acquiring an additional 9,030 shares during the last quarter. Oliver Luxxe Assets LLC raised its holdings in shares of Piper Sandler Companies by 40.2% during the fourth quarter. Oliver Luxxe Assets LLC now owns 5,892 shares of the financial services provider’s stock valued at $1,030,000 after acquiring an additional 1,689 shares during the last quarter. Finally, Truist Financial Corp raised its holdings in shares of Piper Sandler Companies by 3.7% during the fourth quarter. Truist Financial Corp now owns 27,772 shares of the financial services provider’s stock valued at $4,856,000 after acquiring an additional 999 shares during the last quarter. Institutional investors and hedge funds 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.