Insider Selling: Piper Sandler Companies (NYSE:PIPR) General Counsel Sells 1,570 Shares of Stock

Piper Sandler Companies (NYSE:PIPR) General Counsel John W. Geelan sold 1,570 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $211.14, for a total value 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 filing with the SEC, which is accessible through this link.

Piper Sandler Companies Stock Performance

Shares of NYSE:PIPR traded up $2.50 during trading on Tuesday, reaching $212.48. 130,478 shares of the stock were exchanged, compared to its average volume of 97,815. The firm’s 50-day moving average price is $195.39 and its 200 day moving average price is $191.07. The firm has a market cap of $3.77 billion, a price-to-earnings ratio of 36.14 and a beta of 1.40. Piper Sandler Companies has a 12-month low of $121.57 and a 12-month high of $214.94.

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 the consensus estimate of $1.89 by $0.90. The business had revenue of $335.29 million for 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%. The business’s quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.35 EPS. As a group, equities research analysts forecast that Piper Sandler Companies will post 11.82 EPS for the current year.

Piper Sandler Companies Announces Dividend

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

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC acquired a new position in shares of Piper Sandler Companies in the fourth quarter worth about $29,000. Parallel Advisors LLC increased its stake in shares of Piper Sandler Companies by 62.1% in the fourth quarter. Parallel Advisors LLC now owns 167 shares of the financial services provider’s stock worth $29,000 after buying an additional 64 shares during the last quarter. West Oak Capital LLC acquired a new stake in Piper Sandler Companies in the fourth quarter valued at $33,000. Mather Group LLC. bought a new position in Piper Sandler Companies during the 1st quarter valued at $64,000. Finally, Quadrant Capital Group LLC lifted its position in shares of Piper Sandler Companies by 21.1% during the fourth quarter. Quadrant Capital Group LLC now owns 460 shares of the financial services provider’s stock worth $80,000 after purchasing an additional 80 shares during the last quarter. 72.79% of the stock is currently owned by hedge funds and other institutional investors.

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.