Piper Sandler Companies (NYSE:PIPR) Hits New 1-Year High at $267.21

Piper Sandler Companies (NYSE:PIPR)’s stock price hit a new 52-week high on Monday . The stock traded as high as $267.21 and last traded at $261.09, with a volume of 3719 shares. The stock had previously closed at $259.29.

Analysts Set New Price Targets

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

Piper Sandler Companies Trading Up 1.9 %

The stock has a market cap of $4.67 billion, a P/E ratio of 44.92 and a beta of 1.40. The stock has a 50-day simple moving average of $262.19.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings data 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 during 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 quarterly revenue was up 23.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.13 EPS. As a group, equities research analysts forecast that Piper Sandler Companies will post 11.53 EPS for the current fiscal year.

Piper Sandler Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Thursday, August 29th will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $2.60 dividend on an annualized basis and a yield of 0.98%. This is an increase from Piper Sandler Companies’s previous quarterly dividend of $0.60. Piper Sandler Companies’s dividend payout ratio is presently 44.22%.

Insider Transactions at Piper Sandler Companies

In other news, Director Philip Soran sold 1,792 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $263.92, for a total transaction of $472,944.64. Following the transaction, the director now directly owns 18,341 shares of the company’s stock, valued at approximately $4,840,556.72. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Philip Soran sold 1,792 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $263.92, for a total value of $472,944.64. Following the sale, the director now directly owns 18,341 shares of the company’s stock, valued at approximately $4,840,556.72. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jonathan J. Doyle sold 12,695 shares of the stock in a transaction dated 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 directly owns 160,095 shares in the company, valued at $37,883,279.85. The disclosure for this sale can be found here. Insiders have sold a total of 16,276 shares of company stock valued at $3,936,252 in the last ninety days. 3.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Piper Sandler Companies

Large investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. lifted its holdings in Piper Sandler Companies by 3.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 187,310 shares of the financial services provider’s stock valued at $32,755,000 after purchasing an additional 6,652 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Piper Sandler Companies by 1.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 506,340 shares of the financial services provider’s stock valued at $88,546,000 after purchasing an additional 5,851 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in Piper Sandler Companies by 5.7% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 1,716 shares of the financial services provider’s stock valued at $300,000 after purchasing an additional 92 shares in the last quarter. Vise Technologies Inc. purchased a new position in Piper Sandler Companies in the 4th quarter valued at about $328,000. Finally, Quadrant Capital Group LLC lifted its holdings in Piper Sandler Companies by 21.1% in the 4th 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 in the last quarter. 72.79% of the stock is owned by institutional investors and hedge funds.

About Piper Sandler Companies

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.