Piper Sandler Companies (NYSE:PIPR) Trading Down 1.8%

Piper Sandler Companies (NYSE:PIPR) shares fell 1.8% during trading on Tuesday . The company traded as low as $195.95 and last traded at $195.95. 115,633 shares changed hands during mid-day trading, an increase of 16% from the average session volume of 99,559 shares. The stock had previously closed at $199.50.

Analyst Ratings Changes

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

Piper Sandler Companies Price Performance

The stock has a market capitalization of $3.47 billion, a P/E ratio of 33.30 and a beta of 1.42. The stock’s 50-day simple moving average is $194.32 and its 200 day simple moving average is $189.24.

Piper Sandler Companies (NYSE:PIPR) last announced its earnings results on Friday, April 26th. The financial services provider reported $2.79 EPS for the quarter, topping the consensus estimate of $1.89 by $0.90. Piper Sandler Companies had a net margin of 7.33% and a return on equity of 13.83%. The business had revenue of $335.29 million during the quarter, compared to the consensus estimate of $314.97 million. During the same quarter in the previous year, the firm posted $2.35 EPS. Piper Sandler Companies’s revenue was up 15.5% compared to the same quarter last year. As a group, analysts expect that Piper Sandler Companies will post 11.17 earnings per share for the current fiscal year.

Piper Sandler Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 24th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.23%. The ex-dividend date is Thursday, May 23rd. Piper Sandler Companies’s payout ratio is 40.82%.

Insider Transactions at Piper Sandler Companies

In other news, insider Jonathan J. Doyle sold 2,013 shares of Piper Sandler Companies stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $179.79, for a total transaction of $361,917.27. Following the completion of the sale, the insider now owns 166,214 shares of the company’s stock, valued at $29,883,615.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Piper Sandler Companies news, insider Jonathan J. Doyle sold 2,013 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $179.79, for a total transaction of $361,917.27. Following the transaction, the insider now owns 166,214 shares in the company, valued at approximately $29,883,615.06. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jonathan J. Doyle sold 19,987 shares of Piper Sandler Companies stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $183.90, for a total transaction of $3,675,609.30. Following the completion of the sale, the insider now owns 176,227 shares of the company’s stock, valued at $32,408,145.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 53,524 shares of company stock worth $9,838,711. Company insiders own 3.00% of the company’s stock.

Institutional Trading of Piper Sandler Companies

Institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its position in shares of Piper Sandler Companies by 7.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 180,658 shares of the financial services provider’s stock worth $26,251,000 after purchasing an additional 11,847 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Piper Sandler Companies by 1.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 60,712 shares of the financial services provider’s stock valued at $8,822,000 after buying an additional 615 shares during the period. Vanguard Group Inc. raised its position in shares of Piper Sandler Companies by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 1,935,235 shares of the financial services provider’s stock valued at $281,209,000 after buying an additional 9,030 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Piper Sandler Companies by 0.9% during the 3rd quarter. Victory Capital Management Inc. now owns 7,775 shares of the financial services provider’s stock worth $1,130,000 after acquiring an additional 70 shares during the period. Finally, Deutsche Bank AG boosted its position in shares of Piper Sandler Companies by 11.8% during the 3rd quarter. Deutsche Bank AG now owns 9,421 shares of the financial services provider’s stock worth $1,369,000 after acquiring an additional 991 shares in the last quarter. 72.79% of the stock is currently owned by 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.