Piper Sandler Companies (NYSE:PIPR) to Issue $0.70 Quarterly Dividend

Piper Sandler Companies (NYSE:PIPR) announced a quarterly dividend on Friday, February 6th. Investors of record on Tuesday, March 3rd will be given a dividend of 0.70 per share on Friday, March 13th. This represents a c) annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Tuesday, March 3rd.

Piper Sandler Companies has raised its dividend by an average of 0.2%annually over the last three years and has raised its dividend annually for the last 1 consecutive years. Piper Sandler Companies has a payout ratio of 15.6% indicating that its dividend is sufficiently covered by earnings.

Piper Sandler Companies Stock Performance

Shares of Piper Sandler Companies stock opened at $365.67 on Friday. The business’s 50 day moving average price is $351.20 and its 200 day moving average price is $339.09. The company has a market cap of $6.47 billion, a price-to-earnings ratio of 27.56, a PEG ratio of 1.06 and a beta of 1.53. Piper Sandler Companies has a one year low of $202.91 and a one year high of $380.26.

Shares of Piper Sandler Companies are scheduled to split on Tuesday, March 24th. The 4-3 split was recently announced. The newly minted shares will be payable to shareholders after the closing bell on Monday, March 23rd.

Piper Sandler Companies (NYSE:PIPR) last issued its earnings results on Friday, February 6th. The company reported $6.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.72 by $2.16. The business had revenue of $635.00 million during the quarter, compared to the consensus estimate of $516.52 million. Piper Sandler Companies had a return on equity of 19.91% and a net margin of 13.73%.The company’s revenue for the quarter was up 27.4% on a year-over-year basis. During the same period last year, the company earned $4.80 EPS.

Insider Buying and Selling

In related news, CFO Katherine Patricia Clune sold 1,367 shares of the stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $324.69, for a total transaction of $443,851.23. Following the completion of the transaction, the chief financial officer owned 10,425 shares of the company’s stock, valued at approximately $3,384,893.25. This trade represents a 11.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Chad R. Abraham sold 4,400 shares of the business’s stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $337.60, for a total value of $1,485,440.00. Following the completion of the sale, the chief executive officer directly owned 53,558 shares in the company, valued at approximately $18,081,180.80. The trade was a 7.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 8,767 shares of company stock valued at $2,937,921 in the last ninety days. 2.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Piper Sandler Companies

Institutional investors and hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its stake in Piper Sandler Companies by 89.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 74 shares of the company’s stock worth $25,000 after acquiring an additional 35 shares in the last quarter. Legato Capital Management LLC increased its stake in Piper Sandler Companies by 43.4% during the fourth quarter. Legato Capital Management LLC now owns 12,483 shares of the company’s stock worth $4,241,000 after purchasing an additional 3,781 shares during the period. Global Retirement Partners LLC lifted its position in shares of Piper Sandler Companies by 4,175.0% during the fourth quarter. Global Retirement Partners LLC now owns 171 shares of the company’s stock worth $58,000 after purchasing an additional 167 shares in the last quarter. TimesSquare Capital Management LLC lifted its position in shares of Piper Sandler Companies by 13.3% during the fourth quarter. TimesSquare Capital Management LLC now owns 93,893 shares of the company’s stock worth $31,896,000 after purchasing an additional 11,033 shares in the last quarter. Finally, ProShare Advisors LLC boosted its stake in shares of Piper Sandler Companies by 3.4% in the fourth quarter. ProShare Advisors LLC now owns 3,393 shares of the company’s stock valued at $1,153,000 after purchasing an additional 111 shares during the period. Hedge funds and other institutional investors own 72.79% of the company’s stock.

About Piper Sandler Companies

Piper Sandler Companies (NYSE: PIPR) is an investment bank and institutional securities firm that provides a range of capital markets and advisory services to corporations, institutions, municipalities and high-net-worth individuals. The firm’s core activities include investment banking and M&A advisory, underwriting and distribution of equity and debt securities, public finance, and sector-focused advisory across industries such as healthcare, energy, financial services and technology.

In addition to traditional investment banking, Piper Sandler offers equity and fixed income research, institutional sales and trading, and market-making services.