Piper Sandler Companies (NYSE:PIPR) Trading Down 1.8%

Piper Sandler Companies (NYSE:PIPR) fell 1.8% during trading on Tuesday . The company traded as low as $195.95 and last traded at $195.95. 115,633 shares changed hands during trading, an increase of 16% from the average session volume of 99,559 shares. The stock had previously closed at $199.50.

Wall Street Analysts Forecast Growth

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

Piper Sandler Companies Price Performance

The firm’s 50 day moving average is $194.32 and its 200 day moving average is $189.24. The company has a market capitalization of $3.47 billion, a PE ratio of 33.30 and a beta of 1.42.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings results on Friday, April 26th. The financial services provider reported $2.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.90. The company had revenue of $335.29 million for the quarter, compared to the consensus estimate of $314.97 million. Piper Sandler Companies had a return on equity of 13.83% and a net margin of 7.33%. Piper Sandler Companies’s revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.35 EPS. As a group, analysts predict that Piper Sandler Companies will post 11.17 EPS for the current fiscal year.

Piper Sandler Companies Announces Dividend

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 paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $2.40 annualized dividend and a dividend yield of 1.23%. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 40.82%.

Insider Buying and Selling

In other Piper Sandler Companies news, CEO Chad R. Abraham sold 11,307 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $180.18, for a total value of $2,037,295.26. Following the completion of the transaction, the chief executive officer now directly owns 24,116 shares in the company, valued at approximately $4,345,220.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Piper Sandler Companies news, CEO Chad R. Abraham sold 11,307 shares of Piper Sandler Companies stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $180.18, for a total transaction of $2,037,295.26. Following the sale, the chief executive officer now directly owns 24,116 shares of the company’s stock, valued at approximately $4,345,220.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Debbra L. Schoneman sold 4,795 shares of the company’s 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 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. Insiders sold 53,524 shares of company stock valued at $9,838,711 over the last quarter. 3.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Piper Sandler Companies

A number of institutional investors have recently added to or reduced their stakes in PIPR. Oliver Luxxe Assets LLC boosted its holdings in shares of Piper Sandler Companies by 1.1% during 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 in the last quarter. Parallel Advisors LLC lifted its position in Piper Sandler Companies by 62.1% during the 4th quarter. Parallel Advisors LLC now owns 167 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 64 shares during the period. Wedge Capital Management L L P NC lifted its position in Piper Sandler Companies by 1.9% during the 4th quarter. Wedge Capital Management L L P NC now owns 3,572 shares of the financial services provider’s stock valued at $625,000 after acquiring an additional 67 shares during the period. 1492 Capital Management LLC boosted its stake in Piper Sandler Companies by 1.1% during the fourth quarter. 1492 Capital Management LLC now owns 6,399 shares of the financial services provider’s stock worth $1,119,000 after acquiring an additional 68 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in Piper Sandler Companies by 0.9% in the third quarter. Victory Capital Management Inc. now owns 7,775 shares of the financial services provider’s stock worth $1,130,000 after purchasing an additional 70 shares during the period. 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.