Piper Sandler Companies (NYSE:PIPR) Sets New 1-Year High at $187.09

Piper Sandler Companies (NYSE:PIPR) reached a new 52-week high on Monday . The stock traded as high as $187.09 and last traded at $187.16, with a volume of 17632 shares. The stock had previously closed at $185.77.

Analysts Set New Price Targets

Several research firms have recently weighed in on PIPR. JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, April 9th. StockNews.com raised shares of Piper Sandler Companies from a “hold” rating to a “buy” rating in a report on Wednesday, February 28th.

Piper Sandler Companies Trading Up 1.3 %

The company has a market capitalization of $3.33 billion, a price-to-earnings ratio of 37.84 and a beta of 1.42. The firm’s fifty day moving average is $193.89.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings results on Friday, February 2nd. The financial services provider reported $4.03 earnings per share for the quarter, beating analysts’ consensus estimates of $2.61 by $1.42. Piper Sandler Companies had a net margin of 6.33% and a return on equity of 13.27%. The business had revenue of $457.39 million during the quarter, compared to analyst estimates of $370.12 million. During the same quarter last year, the business posted $3.33 earnings per share. Piper Sandler Companies’s revenue for the quarter was up 17.0% compared to the same quarter last year. On average, analysts anticipate that Piper Sandler Companies will post 11.17 earnings per share for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, March 4th were given a dividend of $0.60 per share. The ex-dividend date was Friday, March 1st. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.28%. Piper Sandler Companies’s dividend payout ratio is 48.58%.

Insider Transactions at Piper Sandler Companies

In other news, CEO Chad R. Abraham sold 6,662 shares of Piper Sandler Companies stock in a transaction on Monday, February 5th. The shares were sold at an average price of $185.03, for a total transaction of $1,232,669.86. Following the transaction, the chief executive officer now directly owns 36,454 shares of the company’s stock, valued at $6,745,083.62. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Jonathan J. Doyle sold 19,987 shares of the firm’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $183.90, for a total transaction of $3,675,609.30. Following the sale, the insider now directly owns 176,227 shares in the company, valued at $32,408,145.30. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Chad R. Abraham sold 6,662 shares of the firm’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $185.03, for a total transaction of $1,232,669.86. Following the sale, the chief executive officer now owns 36,454 shares in the company, valued at $6,745,083.62. The disclosure for this sale can be found here. Insiders have sold a total of 53,524 shares of company stock valued at $9,838,711 over the last three months. 3.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Piper Sandler Companies

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC raised its holdings in shares of Piper Sandler Companies by 16.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 59,458 shares of the financial services provider’s stock worth $11,802,000 after acquiring an additional 8,510 shares during the period. Oliver Luxxe Assets LLC increased its stake in Piper Sandler Companies by 1.1% in the 1st quarter. Oliver Luxxe Assets LLC now owns 5,954 shares of the financial services provider’s stock valued at $1,182,000 after buying an additional 62 shares during the last quarter. Wealthcare Advisory Partners LLC acquired a new stake in Piper Sandler Companies in the 1st quarter valued at $298,000. Mather Group LLC. acquired a new stake in Piper Sandler Companies in the 1st quarter valued at $64,000. Finally, HighPoint Advisor Group LLC acquired a new stake in Piper Sandler Companies in the 4th quarter valued at $271,000. 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.