Insider Selling: Piper Sandler Companies (NYSE:PIPR) CEO Sells 3,000 Shares of Stock

Piper Sandler Companies (NYSE:PIPR) CEO Chad Abraham sold 3,000 shares of the stock in a transaction on Friday, November 28th. The stock was sold at an average price of $336.21, for a total transaction of $1,008,630.00. Following the completion of the sale, the chief executive officer directly owned 53,558 shares of the company’s stock, valued at approximately $18,006,735.18. This trade represents a 5.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Piper Sandler Companies Price Performance

Shares of NYSE:PIPR traded down $7.18 during trading on Monday, hitting $328.72. 109,464 shares of the company’s stock were exchanged, compared to its average volume of 145,716. Piper Sandler Companies has a 52-week low of $202.91 and a 52-week high of $374.77. The business’s 50-day simple moving average is $335.97 and its 200 day simple moving average is $312.69. The company has a market cap of $5.82 billion, a price-to-earnings ratio of 27.74 and a beta of 1.50.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings results on Friday, October 31st. The financial services provider reported $3.82 EPS for the quarter, topping the consensus estimate of $2.96 by $0.86. Piper Sandler Companies had a net margin of 13.18% and a return on equity of 18.67%. The business had revenue of $455.31 million for the quarter, compared to analysts’ expectations of $408.40 million. During the same quarter in the previous year, the company earned $2.57 EPS. The business’s quarterly revenue was up 33.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Piper Sandler Companies will post 14.14 EPS for the current fiscal year.

Piper Sandler Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Tuesday, November 25th will be given a dividend of $0.70 per share. The ex-dividend date is Tuesday, November 25th. This represents a $2.80 dividend on an annualized basis and a yield of 0.9%. Piper Sandler Companies’s dividend payout ratio is 21.10%.

Institutional Trading of Piper Sandler Companies

Several institutional investors and hedge funds have recently made changes to their positions in the company. CENTRAL TRUST Co purchased a new stake in Piper Sandler Companies during the second quarter worth $28,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Piper Sandler Companies by 495.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 125 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 104 shares in the last quarter. Twin Peaks Wealth Advisors LLC acquired a new stake in Piper Sandler Companies during the 2nd quarter worth about $31,000. Whittier Trust Co. acquired a new stake in shares of Piper Sandler Companies in the third quarter worth $31,000. Finally, AdvisorNet Financial Inc boosted its position in Piper Sandler Companies by 48.1% in the 2nd quarter. AdvisorNet Financial Inc now owns 114 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 37 shares in the last quarter. 72.79% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PIPR has been the topic of a number of analyst reports. The Goldman Sachs Group upgraded shares of Piper Sandler Companies from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $368.00 to $386.00 in a research report on Monday, November 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Piper Sandler Companies in a research note on Wednesday, October 8th. Wall Street Zen raised Piper Sandler Companies from a “hold” rating to a “buy” rating in a research report on Sunday, October 12th. Finally, Zacks Research upgraded Piper Sandler Companies from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Piper Sandler Companies currently has a consensus rating of “Moderate Buy” and an average target price of $362.50.

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.