Piper Sandler Companies (NYSE:PIPR) Reaches New 12-Month High at $287.90

Piper Sandler Companies (NYSE:PIPR)’s share price reached a new 52-week high on Monday . The stock traded as high as $287.90 and last traded at $288.03, with a volume of 1404 shares trading hands. The stock had previously closed at $286.99.

Analysts Set New Price Targets

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

Piper Sandler Companies Price Performance

The firm has a market cap of $5.11 billion, a PE ratio of 48.81 and a beta of 1.39. The stock has a fifty day simple moving average of $268.21.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings data on Friday, August 2nd. The financial services provider reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.26. Piper Sandler Companies had a return on equity of 15.36% and a net margin of 9.23%. The business had revenue of $357.00 million for the quarter, compared to the consensus estimate of $338.90 million. During the same period last year, the business earned $1.13 EPS. The firm’s revenue was up 23.7% compared to the same quarter last year. On average, equities 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. Investors of record on Thursday, August 29th were given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.90%. The ex-dividend date was Thursday, August 29th. This is a boost from Piper Sandler Companies’s previous quarterly dividend of $0.60. Piper Sandler Companies’s payout ratio is currently 44.22%.

Insider Transactions at Piper Sandler Companies

In other Piper Sandler Companies news, insider Jonathan J. Doyle sold 12,695 shares of the 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 directly owns 160,095 shares of the company’s stock, valued at approximately $37,883,279.85. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Philip Soran sold 1,792 shares of the firm’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 completion of the transaction, the director now directly owns 18,341 shares of the company’s stock, valued at $4,840,556.72. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jonathan J. Doyle sold 12,695 shares of Piper Sandler Companies stock in a transaction on Monday, August 5th. The stock was sold at an average price of $236.63, for a total transaction of $3,004,017.85. Following the sale, the insider now owns 160,095 shares in the company, valued at approximately $37,883,279.85. The disclosure for this sale can be found here. Insiders sold a total of 16,276 shares of company stock worth $3,936,252 over the last three months. 3.00% of the stock is currently owned by insiders.

Institutional Trading of Piper Sandler Companies

Institutional investors have recently made changes to their positions in the business. Heritage Wealth Management Inc. bought a new position in shares of Piper Sandler Companies during the 2nd quarter worth approximately $284,000. Creative Planning boosted its stake in shares of Piper Sandler Companies by 20.9% in the 2nd quarter. Creative Planning now owns 6,888 shares of the financial services provider’s stock valued at $1,585,000 after purchasing an additional 1,191 shares in the last quarter. Algert Global LLC grew its holdings in shares of Piper Sandler Companies by 20.2% in the 2nd quarter. Algert Global LLC now owns 18,150 shares of the financial services provider’s stock worth $4,178,000 after purchasing an additional 3,050 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Piper Sandler Companies by 3.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,684 shares of the financial services provider’s stock worth $2,229,000 after purchasing an additional 308 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in Piper Sandler Companies by 66.0% during the 2nd quarter. Millennium Management LLC now owns 77,804 shares of the financial services provider’s stock valued at $17,908,000 after purchasing an additional 30,942 shares during the last quarter. 72.79% of the stock is currently owned by institutional investors and hedge funds.

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.