Piper Sandler Companies (NYSE:PIPR) Hits New 1-Year High – Here’s Why

Piper Sandler Companies (NYSE:PIPR)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $288.71 and last traded at $280.10, with a volume of 2710 shares trading hands. The stock had previously closed at $283.66.

Analyst Ratings Changes

PIPR has been the subject of several research analyst reports. StockNews.com cut Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, September 17th.

Piper Sandler Companies Stock Performance

The firm has a market capitalization of $5.03 billion, a PE ratio of 29.93 and a beta of 1.39. The stock’s fifty day simple moving average is $289.93.

Piper Sandler Companies (NYSE:PIPR) last issued its earnings results on Friday, October 25th. The financial services provider reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.04. Piper Sandler Companies had a net margin of 10.84% and a return on equity of 16.18%. The business had revenue of $359.57 million for the quarter, compared to analyst estimates of $365.07 million. Analysts anticipate that Piper Sandler Companies will post 11.49 earnings per share for the current year.

Piper Sandler Companies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 22nd will be issued a $0.65 dividend. The ex-dividend date is Friday, November 22nd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.91%. Piper Sandler Companies’s payout ratio is presently 27.78%.

Insider Buying and Selling

In other news, Director Philip Soran sold 1,792 shares of the business’s stock in a transaction on 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 owns 18,341 shares in the company, valued at approximately $4,840,556.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Philip Soran sold 1,792 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now owns 18,341 shares of the company’s stock, valued at approximately $4,840,556.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel John W. Geelan sold 1,789 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $256.73, for a total value of $459,289.97. Following the completion of the transaction, the general counsel now directly owns 15,065 shares in the company, valued at $3,867,637.45. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.00% of the stock is owned by corporate insiders.

Institutional Trading of Piper Sandler Companies

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Blue Trust Inc. grew its stake in shares of Piper Sandler Companies by 194.7% during the second quarter. Blue Trust Inc. now owns 112 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 74 shares during the last quarter. nVerses Capital LLC lifted its holdings in Piper Sandler Companies by 100.0% during the 2nd quarter. nVerses Capital LLC now owns 200 shares of the financial services provider’s stock worth $46,000 after buying an additional 100 shares in the last quarter. USA Financial Formulas acquired a new position in Piper Sandler Companies during the 3rd quarter worth $77,000. FSC Wealth Advisors LLC boosted its position in Piper Sandler Companies by 39.0% in the 2nd quarter. FSC Wealth Advisors LLC now owns 346 shares of the financial services provider’s stock valued at $80,000 after buying an additional 97 shares during the last quarter. Finally, CWM LLC increased its stake in shares of Piper Sandler Companies by 22.5% in the 3rd quarter. CWM LLC now owns 310 shares of the financial services provider’s stock valued at $88,000 after buying an additional 57 shares during the period. 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.