Piper Sandler Companies (NYSE:PIPR) Sets New 1-Year High at $201.07

Piper Sandler Companies (NYSE:PIPR - Get Free Report) reached a new 52-week high during trading on Monday . The stock traded as high as $201.07 and last traded at $199.92, with a volume of 5038 shares changing hands. The stock had previously closed at $199.99.

Analyst Ratings Changes

PIPR has been the subject of several research reports. StockNews.com upgraded shares of Piper Sandler Companies from a "hold" rating to a "buy" rating in a research note on Wednesday, February 28th. The Goldman Sachs Group increased their price target on Piper Sandler Companies from $171.00 to $193.00 and gave the company a "buy" rating in a report on Tuesday, December 19th. JMP Securities restated a "market perform" rating on shares of Piper Sandler Companies in a research note on Wednesday, January 10th. Finally, Northland Securities downgraded Piper Sandler Companies from an "outperform" rating to a "market perform" rating in a report on Tuesday, December 19th.

Piper Sandler Companies Stock Up 0.5 %

The company has a market capitalization of $3.55 billion, a price-to-earnings ratio of 40.68 and a beta of 1.42. The firm has a 50 day moving average price of $194.66 and a two-hundred day moving average price of $184.09.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last issued its quarterly earnings results on Friday, February 2nd. The financial services provider reported $4.03 EPS for the quarter, beating analysts' consensus estimates of $2.61 by $1.42. Piper Sandler Companies had a return on equity of 13.27% and a net margin of 6.33%. The firm had revenue of $457.39 million during the quarter, compared to the consensus estimate of $370.12 million. During the same quarter in the prior year, the business posted $3.33 earnings per share. Piper Sandler Companies's revenue for the quarter was up 17.0% on a year-over-year basis. Analysts predict that Piper Sandler Companies will post 11.17 earnings per share for the current year.

Piper Sandler Companies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, March 4th were issued a $0.60 dividend. The ex-dividend date was Friday, March 1st. This represents a $2.40 annualized dividend and a yield of 1.19%. Piper Sandler Companies's dividend payout ratio is presently 48.58%.

Insiders Place Their Bets

In related news, CEO Chad R. Abraham sold 11,307 shares of the business's stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $180.18, for a total value of $2,037,295.26. Following the completion of the sale, the chief executive officer now directly owns 24,116 shares of the company's stock, valued at $4,345,220.88. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Piper Sandler Companies news, CEO Chad R. Abraham sold 11,307 shares of Piper Sandler Companies stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $180.18, for a total value of $2,037,295.26. Following the completion of the transaction, the chief executive officer now owns 24,116 shares of the company's stock, valued at $4,345,220.88. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Chad R. Abraham sold 6,662 shares of the stock in a transaction on Monday, February 5th. The stock was sold at an average price of $185.03, for a total transaction of $1,232,669.86. Following the sale, the chief executive officer now directly owns 36,454 shares in the company, valued at $6,745,083.62. The disclosure for this sale can be found here. Insiders sold a total of 53,524 shares of company stock valued at $9,838,711 in the last ninety days. Corporate insiders own 3.30% of the company's stock.

Hedge Funds Weigh In On Piper Sandler Companies

Hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC acquired a new stake in Piper Sandler Companies in the 4th quarter valued at approximately $29,000. Parallel Advisors LLC increased its position in shares of Piper Sandler Companies by 62.1% during the 4th quarter. Parallel Advisors LLC now owns 167 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 64 shares during the period. Indiana Trust & Investment Management CO acquired a new position in shares of Piper Sandler Companies during the 3rd quarter valued at $26,000. DHJJ Financial Advisors Ltd. acquired a new position in shares of Piper Sandler Companies during the 3rd quarter valued at $29,000. Finally, West Oak Capital LLC acquired a new position in shares of Piper Sandler Companies during the 4th quarter valued at $33,000. 72.79% of the stock is currently owned by institutional investors and hedge funds.

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.