Piper Sandler Companies (NYSE:PIPR) Stock Price Up 1.5% – Here’s What Happened

Piper Sandler Companies (NYSE:PIPR) rose 1.5% on Tuesday . The company traded as high as $303.10 and last traded at $299.09. Approximately 117,450 shares changed hands during mid-day trading, an increase of 27% from the average daily volume of 92,225 shares. The stock had previously closed at $294.59.

Wall Street Analyst Weigh In

Separately, JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, September 17th.

Piper Sandler Companies Trading Up 1.5 %

The firm has a market capitalization of $5.29 billion, a PE ratio of 50.87 and a beta of 1.39. The business’s 50 day simple moving average is $282.04 and its two-hundred day simple moving average is $267.47.

Piper Sandler Companies (NYSE:PIPR) last announced its earnings results on Friday, August 2nd. The financial services provider reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.26. The business had revenue of $357.00 million during the quarter, compared to analyst estimates of $338.90 million. Piper Sandler Companies had a net margin of 9.23% and a return on equity of 15.36%. The company’s quarterly revenue was up 23.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.13 EPS. As a group, equities research analysts anticipate that Piper Sandler Companies will post 11.53 earnings per share for the current year.

Piper Sandler Companies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 29th were paid a dividend of $0.65 per share. The ex-dividend date was Thursday, August 29th. This is a positive change from Piper Sandler Companies’s previous quarterly dividend of $0.60. This represents a $2.60 dividend on an annualized basis and a yield of 0.87%. Piper Sandler Companies’s payout ratio is currently 44.22%.

Insider Transactions at Piper Sandler Companies

In other news, insider Jonathan J. Doyle sold 12,695 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $236.63, for a total value of $3,004,017.85. Following the completion of the sale, the insider now directly owns 160,095 shares in the company, valued at $37,883,279.85. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Jonathan J. Doyle sold 12,695 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $236.63, for a total value of $3,004,017.85. Following the completion of the sale, the insider now directly owns 160,095 shares in the company, valued at $37,883,279.85. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, General Counsel John W. Geelan sold 1,789 shares of the company’s stock in a transaction 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 sale, the general counsel now owns 15,065 shares of the company’s stock, valued at $3,867,637.45. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,276 shares of company stock worth $3,936,252 in the last three months. Corporate insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Piper Sandler Companies by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 1,971,201 shares of the financial services provider’s stock worth $391,264,000 after buying an additional 20,891 shares during the period. Lord Abbett & CO. LLC boosted its holdings in Piper Sandler Companies by 7.4% in the 1st quarter. Lord Abbett & CO. LLC now owns 285,542 shares of the financial services provider’s stock worth $56,677,000 after buying an additional 19,662 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Piper Sandler Companies by 37.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 220,638 shares of the financial services provider’s stock worth $38,583,000 after buying an additional 59,915 shares during the period. Bank of New York Mellon Corp boosted its holdings in Piper Sandler Companies by 5.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 170,145 shares of the financial services provider’s stock worth $39,162,000 after buying an additional 9,380 shares during the period. Finally, Millennium Management LLC boosted its holdings in Piper Sandler Companies by 66.0% in the 2nd quarter. Millennium Management LLC now owns 77,804 shares of the financial services provider’s stock worth $17,908,000 after buying an additional 30,942 shares during the period. 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.