Piper Sandler Companies (NYSE:PIPR) Reaches New 12-Month High at $207.06

Piper Sandler Companies (NYSE:PIPR)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as $207.06 and last traded at $210.00, with a volume of 5081 shares traded. The stock had previously closed at $206.14.

Analysts Set New Price Targets

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

Piper Sandler Companies Price Performance

The firm has a 50 day simple moving average of $194.88. The company has a market cap of $3.72 billion, a PE ratio of 35.71 and a beta of 1.40.

Piper Sandler Companies (NYSE:PIPR) last posted its earnings results on Friday, April 26th. The financial services provider reported $2.79 earnings per share 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 firm had revenue of $335.29 million during the quarter, compared to analyst estimates of $314.97 million. During the same period last year, the firm posted $2.35 earnings per share. Piper Sandler Companies’s revenue for the quarter was up 15.5% compared to the same quarter last year. Analysts anticipate that Piper Sandler Companies will post 11.82 earnings per share for the current fiscal year.

Piper Sandler Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 24th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $2.40 dividend on an annualized basis and a yield of 1.14%. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 40.82%.

Insider Transactions at Piper Sandler Companies

In related news, insider Jonathan J. Doyle sold 2,013 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $179.79, for a total transaction of $361,917.27. Following the completion of the sale, the insider now directly owns 166,214 shares of the company’s stock, valued at approximately $29,883,615.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Jonathan J. Doyle sold 2,013 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $179.79, for a total transaction of $361,917.27. Following the sale, the insider now owns 166,214 shares in the company, valued at $29,883,615.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Debbra L. Schoneman sold 4,795 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $190.72, for a total transaction of $914,502.40. Following the completion of the sale, 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. In the last 90 days, insiders sold 21,875 shares of company stock worth $4,009,781. 3.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in PIPR. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Piper Sandler Companies by 16.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,517 shares of the financial services provider’s stock valued at $511,000 after purchasing an additional 507 shares during the period. Park Avenue Securities LLC purchased a new position in shares of Piper Sandler Companies in the third quarter valued at approximately $379,000. Allspring Global Investments Holdings LLC lifted its holdings in Piper Sandler Companies by 1.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 60,712 shares of the financial services provider’s stock valued at $8,822,000 after acquiring an additional 615 shares during the last quarter. Victory Capital Management Inc. grew its position 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 acquiring an additional 70 shares during the period. Finally, Illinois Municipal Retirement Fund acquired a new stake in Piper Sandler Companies during the third quarter worth $1,264,000. Hedge funds and other institutional investors own 72.79% of the company’s stock.

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.