Piper Sandler Companies (NYSE:PIPR) Hits New 52-Week High at $187.09

Shares of Piper Sandler Companies (NYSE:PIPR - Get Free Report) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $187.09 and last traded at $187.16, with a volume of 17632 shares. The stock had previously closed at $185.77.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. StockNews.com raised 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 note on Tuesday, April 9th.

Piper Sandler Companies Price Performance

The stock's 50 day simple moving average is $194.00 and its two-hundred day simple moving average is $187.16. The firm has a market cap of $3.39 billion, a P/E ratio of 38.76 and a beta of 1.42.

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

Piper Sandler Companies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, March 4th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.25%. The ex-dividend date was Friday, March 1st. Piper Sandler Companies's dividend payout ratio (DPR) is currently 48.58%.

Insider Activity at Piper Sandler Companies

In related news, CEO Chad R. Abraham sold 11,307 shares of the firm's stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $180.18, for a total transaction of $2,037,295.26. Following the completion of the sale, the chief executive officer now owns 24,116 shares of the company's stock, valued at $4,345,220.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, President Debbra L. Schoneman sold 205 shares of the firm's stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $190.05, for a total value of $38,960.25. Following the sale, the president now owns 16,935 shares in the company, valued at $3,218,496.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Chad R. Abraham sold 11,307 shares of the firm's stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $180.18, for a total transaction of $2,037,295.26. Following the completion of the sale, the chief executive officer now owns 24,116 shares in the company, valued at approximately $4,345,220.88. The disclosure for this sale can be found here. Insiders sold 53,524 shares of company stock valued at $9,838,711 over the last 90 days. Corporate insiders own 3.00% of the company's stock.

Institutional Investors Weigh In On Piper Sandler Companies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC purchased a new position in shares of Piper Sandler Companies during the 4th quarter worth $29,000. Parallel Advisors LLC boosted its stake 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 worth $29,000 after acquiring an additional 64 shares during the last quarter. West Oak Capital LLC purchased a new position in shares of Piper Sandler Companies during the 4th quarter worth $33,000. Mather Group LLC. purchased a new position in shares of Piper Sandler Companies during the 1st quarter worth $64,000. Finally, Quadrant Capital Group LLC boosted its stake in shares of Piper Sandler Companies by 21.1% during the 4th quarter. Quadrant Capital Group LLC now owns 460 shares of the financial services provider's stock worth $80,000 after acquiring an additional 80 shares during the last quarter. Hedge funds and other institutional investors 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.