Piper Sandler Companies (NYSE:PIPR) Sets New 52-Week High Following Better-Than-Expected Earnings

Shares of Piper Sandler Companies (NYSE:PIPR) reached a new 52-week high during mid-day trading on Monday following a stronger than expected earnings report. The stock traded as high as $198.05 and last traded at $198.75, with a volume of 1653 shares changing hands. The stock had previously closed at $197.16.

The financial services provider reported $2.79 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.90. Piper Sandler Companies had a net margin of 7.33% and a return on equity of 13.83%. The company had revenue of $335.29 million during the quarter, compared to analyst estimates of $314.97 million. During the same period in the prior year, the firm earned $2.35 earnings per share. The business’s quarterly revenue was up 15.5% on a year-over-year basis.

Piper Sandler Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 24th will be issued a $0.60 dividend. The ex-dividend date is Thursday, May 23rd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.23%. Piper Sandler Companies’s dividend payout ratio is 40.82%.

Analysts Set New Price Targets

PIPR has been the topic of a number of research reports. StockNews.com upgraded Piper Sandler Companies from a “hold” rating to a “buy” rating in a report on Wednesday, February 28th. JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, April 9th.

Insider Buying and Selling

In related news, President Debbra L. Schoneman sold 5,000 shares of the stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $184.13, for a total value of $920,650.00. Following the transaction, the president now owns 48,083 shares in the company, valued at $8,853,522.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, President Debbra L. Schoneman sold 5,000 shares of the stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $184.13, for a total value of $920,650.00. Following the transaction, the president now owns 48,083 shares in the company, valued at $8,853,522.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Debbra L. Schoneman sold 4,795 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $190.72, for a total value of $914,502.40. Following the completion of the transaction, the president now owns 12,140 shares in the company, valued at approximately $2,315,340.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 53,524 shares of company stock worth $9,838,711. Insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Piper Sandler Companies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PIPR. GAMMA Investing LLC acquired a new position in Piper Sandler Companies during the fourth quarter valued at approximately $29,000. Parallel Advisors LLC grew its holdings in Piper Sandler Companies by 62.1% during the fourth quarter. Parallel Advisors LLC now owns 167 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 64 shares during the last quarter. West Oak Capital LLC acquired a new position in Piper Sandler Companies during the fourth quarter valued at approximately $33,000. Mather Group LLC. acquired a new position in Piper Sandler Companies during the first quarter valued at approximately $64,000. Finally, Quadrant Capital Group LLC grew its holdings in Piper Sandler Companies by 21.1% during the fourth quarter. Quadrant Capital Group LLC now owns 460 shares of the financial services provider’s stock valued at $80,000 after purchasing an additional 80 shares during the last quarter. Institutional investors and hedge funds own 72.79% of the company’s stock.

Piper Sandler Companies Stock Down 1.9 %

The company has a market capitalization of $3.47 billion, a P/E ratio of 33.30 and a beta of 1.42. The firm has a 50-day moving average price of $194.32 and a two-hundred day moving average price of $189.24.

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.