Piper Sandler Companies (NYSE:PIPR) Reaches New 12-Month High at $193.02

Piper Sandler Companies (NYSE:PIPR - Get Free Report) shares reached a new 52-week high on Monday . The stock traded as high as $193.02 and last traded at $192.14, with a volume of 10725 shares trading hands. The stock had previously closed at $190.60.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PIPR. The Goldman Sachs Group lifted their target price on Piper Sandler Companies from $171.00 to $193.00 and gave the company a "buy" rating in a research note on Tuesday, December 19th. StockNews.com raised 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 note on Tuesday, April 9th. Finally, Northland Securities cut Piper Sandler Companies from an "outperform" rating to a "market perform" rating in a research note on Tuesday, December 19th.

Piper Sandler Companies Price Performance

The stock has a fifty day moving average of $195.12. The company has a market cap of $3.31 billion, a PE ratio of 37.88 and a beta of 1.42.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last released 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. 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 analysts' expectations of $370.12 million. During the same quarter in the prior year, the company earned $3.33 EPS. The company's revenue was up 17.0% on a year-over-year basis. Equities research analysts forecast that Piper Sandler Companies will post 11.17 earnings per share for the current year.

Piper Sandler Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, March 4th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.28%. The ex-dividend date was Friday, March 1st. Piper Sandler Companies's payout ratio is presently 48.58%.

Insider Transactions at Piper Sandler Companies

In other Piper Sandler Companies 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 transaction of $920,650.00. Following the completion of the transaction, the president now directly owns 48,083 shares of the company's stock, valued at $8,853,522.79. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Piper Sandler Companies news, President Debbra L. Schoneman sold 205 shares of Piper Sandler Companies stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $190.05, for a total value of $38,960.25. Following the completion of the transaction, the president now directly owns 16,935 shares of the company's stock, valued at approximately $3,218,496.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Debbra L. Schoneman sold 5,000 shares of the business's stock in a transaction that occurred 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 transaction, the president now owns 48,083 shares of the company's stock, valued at $8,853,522.79. The disclosure for this sale can be found here. Insiders have sold 53,524 shares of company stock worth $9,838,711 in the last ninety days. Insiders own 3.32% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. North Reef Capital Management LP raised its stake in Piper Sandler Companies by 143.5% during the 3rd quarter. North Reef Capital Management LP now owns 245,000 shares of the financial services provider's stock worth $35,601,000 after buying an additional 144,369 shares during the period. Norges Bank purchased a new position in shares of Piper Sandler Companies during the fourth quarter valued at approximately $18,683,000. Balyasny Asset Management L.P. boosted its position in shares of Piper Sandler Companies by 224.7% during the first quarter. Balyasny Asset Management L.P. now owns 155,544 shares of the financial services provider's stock valued at $21,560,000 after buying an additional 107,640 shares during the last quarter. FMR LLC raised its position in Piper Sandler Companies by 2,650.0% in the 1st quarter. FMR LLC now owns 109,560 shares of the financial services provider's stock valued at $15,186,000 after buying an additional 105,576 shares during the last quarter. Finally, Mairs & Power Inc. lifted its stake in Piper Sandler Companies by 210.8% during the 4th quarter. Mairs & Power Inc. now owns 123,095 shares of the financial services provider's stock valued at $21,526,000 after acquiring an additional 83,495 shares in the last quarter. Institutional investors and hedge funds own 72.79% of the company's stock.

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.