Piper Sandler Companies (NYSE:PIPR) Sets New 52-Week High at $231.50

Shares of Piper Sandler Companies (NYSE:PIPR) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $231.50 and last traded at $229.38, with a volume of 3788 shares changing hands. The stock had previously closed at $230.17.

Wall Street Analyst Weigh In

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

Piper Sandler Companies Stock Performance

The company’s fifty day simple moving average is $211.37. The firm has a market cap of $4.03 billion, a price-to-earnings ratio of 39.14 and a beta of 1.41.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings data on Friday, April 26th. The financial services provider reported $2.79 EPS for the quarter, topping 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 company had revenue of $335.29 million for the quarter, compared to analysts’ expectations of $314.97 million. During the same quarter in the previous year, the firm posted $2.35 earnings per share. The firm’s quarterly revenue was up 15.5% on a year-over-year basis. As a group, research analysts expect that Piper Sandler Companies will post 11.82 earnings per share for the current year.

Piper Sandler Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 24th were paid a dividend of $0.60 per share. The ex-dividend date was Thursday, May 23rd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.05%. Piper Sandler Companies’s dividend payout ratio is currently 40.82%.

Insider Activity

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

Institutional Investors Weigh In On Piper Sandler Companies

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Envestnet Portfolio Solutions Inc. bought a new position in Piper Sandler Companies during the third quarter worth $236,000. Envestnet Asset Management Inc. lifted its holdings in Piper Sandler Companies by 48.8% in the third quarter. Envestnet Asset Management Inc. now owns 54,466 shares of the financial services provider’s stock worth $7,914,000 after acquiring an additional 17,869 shares during the last quarter. FMR LLC grew its holdings in shares of Piper Sandler Companies by 10.8% during the third quarter. FMR LLC now owns 153,040 shares of the financial services provider’s stock valued at $22,238,000 after purchasing an additional 14,977 shares during the last quarter. Mariner LLC raised its position in shares of Piper Sandler Companies by 5.2% during the 3rd quarter. Mariner LLC now owns 5,166 shares of the financial services provider’s stock worth $751,000 after purchasing an additional 256 shares during the period. Finally, Natixis Advisors L.P. lifted its holdings in shares of Piper Sandler Companies by 7.5% in the 3rd quarter. Natixis Advisors L.P. now owns 15,300 shares of the financial services provider’s stock worth $2,223,000 after purchasing an additional 1,067 shares during the last quarter. 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.