Piper Sandler Companies (NYSE:PIPR) Trading Down 0.2%

Piper Sandler Companies (NYSE:PIPR)’s share price dropped 0.2% on Tuesday . The company traded as low as $283.98 and last traded at $287.00. Approximately 60,338 shares traded hands during trading, a decline of 28% from the average daily volume of 83,412 shares. The stock had previously closed at $287.51.

Analyst Upgrades and Downgrades

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

Piper Sandler Companies Price Performance

The company has a market cap of $5.08 billion, a P/E ratio of 48.81 and a beta of 1.39. The stock has a fifty day moving average price of $269.88 and a two-hundred day moving average price of $253.90.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings results on Friday, August 2nd. The financial services provider reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.26. The company had revenue of $357.00 million for the quarter, compared to the consensus estimate of $338.90 million. Piper Sandler Companies had a net margin of 9.23% and a return on equity of 15.36%. Piper Sandler Companies’s revenue was up 23.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.13 EPS. As a group, analysts forecast that Piper Sandler Companies will post 11.53 earnings per share for the current year.

Piper Sandler Companies Increases Dividend

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

Insider Activity

In other Piper Sandler Companies news, insider Jonathan J. Doyle sold 12,695 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $236.63, for a total value of $3,004,017.85. Following the transaction, the insider now owns 160,095 shares of the company’s stock, valued at $37,883,279.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, General Counsel John W. Geelan sold 1,789 shares of Piper Sandler Companies stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $256.73, for a total value of $459,289.97. Following the transaction, the general counsel now directly owns 15,065 shares of the company’s stock, valued at $3,867,637.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jonathan J. Doyle sold 12,695 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $236.63, for a total transaction of $3,004,017.85. Following the completion of the sale, the insider now owns 160,095 shares of the company’s stock, valued at approximately $37,883,279.85. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,276 shares of company stock worth $3,936,252. Corporate insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PIPR. Blue Trust Inc. grew its holdings in shares of Piper Sandler Companies by 194.7% during the 2nd quarter. Blue Trust Inc. now owns 112 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 74 shares in the last quarter. Parallel Advisors LLC grew its stake in shares of Piper Sandler Companies by 62.1% in the 4th quarter. Parallel Advisors LLC now owns 167 shares of the financial services provider’s stock valued at $29,000 after buying an additional 64 shares in the last quarter. nVerses Capital LLC raised its position in Piper Sandler Companies by 100.0% during the second quarter. nVerses Capital LLC now owns 200 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 100 shares in the last quarter. Mather Group LLC. acquired a new stake in Piper Sandler Companies in the first quarter valued at approximately $64,000. Finally, FSC Wealth Advisors LLC raised its holdings in shares of Piper Sandler Companies by 39.0% during the 2nd quarter. FSC Wealth Advisors LLC now owns 346 shares of the financial services provider’s stock valued at $80,000 after purchasing an additional 97 shares in the last quarter. Hedge funds and other 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.