Piper Sandler Companies (NYSE:PIPR) Hits New 52-Week High at $207.06

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. StockNews.com raised shares of Piper Sandler Companies from a “hold” rating to a “buy” rating in a report on Wednesday, February 28th. JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, April 9th.

Piper Sandler Companies Price Performance

The stock has a market capitalization of $3.72 billion, a P/E ratio of 35.71 and a beta of 1.40. The firm’s 50 day simple moving average is $194.88.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings data 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. The business had revenue of $335.29 million during the quarter, compared to analyst estimates of $314.97 million. Piper Sandler Companies had a net margin of 7.33% and a return on equity of 13.83%. Piper Sandler Companies’s revenue was up 15.5% compared to the same quarter last year. During the same period in the previous year, the business earned $2.35 EPS. On average, equities analysts forecast that Piper Sandler Companies will post 11.82 earnings per share for the current year.

Piper Sandler Companies Announces Dividend

The firm also recently declared 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. This represents a $2.40 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend is Thursday, May 23rd. Piper Sandler Companies’s payout ratio is 40.82%.

Insider Activity

In related news, 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 sale, the president now owns 12,140 shares in the company, valued at approximately $2,315,340.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Chad R. Abraham sold 11,307 shares of the stock in a transaction 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 $4,345,220.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, President Debbra L. Schoneman sold 4,795 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $190.72, for a total value of $914,502.40. Following the transaction, the president now directly owns 12,140 shares in the company, valued at $2,315,340.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,875 shares of company stock valued at $4,009,781. Company insiders own 3.00% of the company’s stock.

Institutional Trading of Piper Sandler Companies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PIPR. Texas Permanent School Fund Corp lifted its stake in shares of Piper Sandler Companies by 2.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 13,303 shares of the financial services provider’s stock worth $2,641,000 after purchasing an additional 307 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in Piper Sandler Companies by 14.6% in the 1st quarter. BNP Paribas Financial Markets now owns 13,951 shares of the financial services provider’s stock worth $2,769,000 after purchasing an additional 1,779 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Piper Sandler Companies by 16.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 59,458 shares of the financial services provider’s stock valued at $11,802,000 after purchasing an additional 8,510 shares in the last quarter. Raymond James & Associates raised its holdings in shares of Piper Sandler Companies by 2.2% in the first quarter. Raymond James & Associates now owns 28,583 shares of the financial services provider’s stock worth $5,673,000 after buying an additional 627 shares during the last quarter. Finally, Oliver Luxxe Assets LLC grew its holdings in shares of Piper Sandler Companies by 1.1% during the first 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 during the last quarter. 72.79% of the stock is owned by hedge funds and other institutional investors.

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.