Insider Selling: Piper Sandler Companies (NYSE:PIPR) CFO Sells 1,367 Shares of Stock

Piper Sandler Companies (NYSE:PIPR) CFO Katherine Patricia Clune sold 1,367 shares of Piper Sandler Companies stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $324.69, for a total value of $443,851.23. Following the transaction, the chief financial officer owned 10,425 shares of the company’s stock, valued at approximately $3,384,893.25. This represents a 11.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Piper Sandler Companies Stock Performance

Shares of Piper Sandler Companies stock traded up $7.69 on Friday, hitting $323.23. The company’s stock had a trading volume of 145,677 shares, compared to its average volume of 146,489. Piper Sandler Companies has a 1 year low of $202.91 and a 1 year high of $374.77. The firm has a fifty day moving average price of $338.72 and a 200-day moving average price of $308.75. The company has a market capitalization of $5.72 billion, a price-to-earnings ratio of 27.28 and a beta of 1.50.

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

Piper Sandler Companies Dividend Announcement

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

Analyst Ratings Changes

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

Institutional Investors Weigh In On Piper Sandler Companies

A number of institutional investors have recently bought and sold shares of the stock. Whittier Trust Co. acquired a new position in shares of Piper Sandler Companies during the third quarter worth about $31,000. Danske Bank A S acquired a new position in Piper Sandler Companies in the third quarter worth $35,000. CENTRAL TRUST Co bought a new position in shares of Piper Sandler Companies during the second quarter valued at approximately $28,000. Twin Peaks Wealth Advisors LLC acquired a new position in Piper Sandler Companies during the 2nd quarter valued at about $31,000. Finally, AdvisorNet Financial Inc increased its holdings in shares of Piper Sandler Companies by 48.1% during the second quarter. AdvisorNet Financial Inc now owns 114 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 37 shares during the period. 72.79% of the stock is currently 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.