Piper Sandler Companies (NYSE:PIPR) Shares Down 1.4%

Piper Sandler Companies (NYSE:PIPR)’s share price dropped 1.4% during trading on Tuesday . The stock traded as low as $197.09 and last traded at $198.05. Approximately 70,845 shares traded hands during mid-day trading, a decline of 26% from the average daily volume of 95,239 shares. The stock had previously closed at $200.96.

Wall Street Analyst Weigh In

PIPR has been the topic of several recent analyst reports. JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a research note on Tuesday. Northland Securities lowered shares of Piper Sandler Companies from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 19th. StockNews.com upgraded shares of Piper Sandler Companies from a “hold” rating to a “buy” rating in a research note on Wednesday, February 28th. Finally, The Goldman Sachs Group increased their price target on shares of Piper Sandler Companies from $171.00 to $193.00 and gave the company a “buy” rating in a research note on Tuesday, December 19th.

Piper Sandler Companies Price Performance

The firm has a market capitalization of $3.50 billion, a PE ratio of 40.09 and a beta of 1.42. The business’s 50-day moving average price is $195.00 and its 200-day moving average price is $184.28.

Piper Sandler Companies (NYSE:PIPR) last announced its earnings results on Friday, February 2nd. The financial services provider reported $4.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.61 by $1.42. The business had revenue of $457.39 million for the quarter, compared to analyst estimates of $370.12 million. Piper Sandler Companies had a net margin of 6.33% and a return on equity of 13.27%. The company’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same period last year, the firm posted $3.33 earnings per share. Equities analysts forecast that Piper Sandler Companies will post 11.17 earnings per share for the current year.

Piper Sandler Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, March 4th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.21%. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 48.58%.

Insider Activity at Piper Sandler Companies

In related news, President Debbra L. Schoneman sold 5,000 shares of Piper Sandler Companies stock in a transaction on Monday, February 5th. The shares were sold at an average price of $184.13, for a total value of $920,650.00. Following the transaction, the president now directly owns 48,083 shares in the company, valued at approximately $8,853,522.79. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, President Debbra L. Schoneman sold 3,555 shares of Piper Sandler Companies stock in a transaction on Monday, February 26th. The shares were sold at an average price of $184.84, for a total value of $657,106.20. Following the transaction, the president now directly owns 11,518 shares in the company, valued at approximately $2,128,987.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Debbra L. Schoneman sold 5,000 shares of Piper Sandler Companies stock in a transaction on Monday, February 5th. The shares were sold at an average price of $184.13, for a total transaction of $920,650.00. Following the completion of the transaction, the president now owns 48,083 shares in the company, valued at $8,853,522.79. The disclosure for this sale can be found here. Insiders have sold a total of 53,524 shares of company stock worth $9,838,711 in the last three months. Insiders own 3.30% of the company’s stock.

Institutional Investors Weigh In On Piper Sandler Companies

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Parallel Advisors LLC lifted its holdings in Piper Sandler Companies by 62.1% in the fourth quarter. Parallel Advisors LLC now owns 167 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 64 shares during the period. Cresset Asset Management LLC lifted its holdings in Piper Sandler Companies by 1.8% in the fourth quarter. Cresset Asset Management LLC now owns 3,743 shares of the financial services provider’s stock valued at $654,000 after acquiring an additional 66 shares during the period. Wedge Capital Management L L P NC lifted its holdings in Piper Sandler Companies by 1.9% in the fourth quarter. Wedge Capital Management L L P NC now owns 3,572 shares of the financial services provider’s stock valued at $625,000 after acquiring an additional 67 shares during the period. 1492 Capital Management LLC lifted its holdings in Piper Sandler Companies by 1.1% in the fourth quarter. 1492 Capital Management LLC now owns 6,399 shares of the financial services provider’s stock valued at $1,119,000 after acquiring an additional 68 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in Piper Sandler Companies by 0.9% in the third quarter. Victory Capital Management Inc. now owns 7,775 shares of the financial services provider’s stock valued at $1,130,000 after acquiring an additional 70 shares during the period. Institutional investors and hedge funds own 72.79% of the company’s stock.

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.