Piper Sandler Companies (NYSE:PIPR) General Counsel John W. Geelan Sells 1,570 Shares

Piper Sandler Companies (NYSE:PIPR) General Counsel John W. Geelan sold 1,570 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $211.14, for a total transaction of $331,489.80. Following the completion of the sale, the general counsel now directly owns 16,854 shares in the company, valued at approximately $3,558,553.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Piper Sandler Companies Stock Up 1.2 %

NYSE PIPR traded up $2.50 during trading hours on Tuesday, hitting $212.48. The company’s stock had a trading volume of 130,478 shares, compared to its average volume of 97,815. The stock has a fifty day moving average of $195.39 and a 200 day moving average of $191.07. Piper Sandler Companies has a twelve month low of $121.57 and a twelve month high of $214.94. The firm has a market capitalization of $3.77 billion, a P/E ratio of 36.14 and a beta of 1.40.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings data on Friday, April 26th. The financial services provider reported $2.79 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $335.29 million for the quarter, compared to analyst estimates of $314.97 million. During the same period in the prior year, the business posted $2.35 earnings per share. Piper Sandler Companies’s revenue was up 15.5% compared to the same quarter last year. On average, analysts predict that Piper Sandler Companies will post 11.82 earnings per share for the current year.

Piper Sandler Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 24th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $2.40 annualized dividend and a yield of 1.13%. Piper Sandler Companies’s dividend payout ratio is currently 40.82%.

Institutional Investors Weigh In On Piper Sandler Companies

Several hedge funds have recently bought and sold shares of the company. Sei Investments Co. raised its holdings in Piper Sandler Companies by 68.1% in the first quarter. Sei Investments Co. now owns 22,204 shares of the financial services provider’s stock worth $4,408,000 after purchasing an additional 8,994 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in shares of Piper Sandler Companies during the first quarter worth $217,000. SG Americas Securities LLC bought a new stake in shares of Piper Sandler Companies during the first quarter worth $238,000. Texas Permanent School Fund Corp increased its position in shares of Piper Sandler Companies by 2.4% during the first quarter. Texas Permanent School Fund Corp now owns 13,303 shares of the financial services provider’s stock worth $2,641,000 after acquiring an additional 307 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of Piper Sandler Companies by 14.6% during the first quarter. BNP Paribas Financial Markets now owns 13,951 shares of the financial services provider’s stock worth $2,769,000 after acquiring an additional 1,779 shares in the last quarter. 72.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

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.