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

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

Analysts Set New Price Targets

A number of research firms have recently weighed in on PIPR. StockNews.com raised Piper Sandler Companies from a "hold" rating to a "buy" rating in a research report on Wednesday, February 28th. JMP Securities reiterated a "market perform" rating on shares of Piper Sandler Companies in a research report on Tuesday, April 9th.

Piper Sandler Companies Trading Down 1.9 %

The firm has a market cap of $3.47 billion, a PE ratio of 33.30 and a beta of 1.42. The company has a 50-day simple moving average of $194.32 and a 200 day simple moving average of $189.24.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last released its quarterly earnings results on Friday, April 26th. The financial services provider reported $2.79 EPS for the quarter, beating the consensus estimate of $1.89 by $0.90. The company had revenue of $335.29 million for the quarter, compared to analyst estimates of $314.97 million. Piper Sandler Companies had a net margin of 7.33% and a return on equity of 13.83%. The firm's revenue was up 15.5% on a year-over-year basis. During the same quarter last year, the business earned $2.35 earnings per share. On average, equities analysts expect 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 will be paid on Friday, June 7th. Shareholders of record on Friday, May 24th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend is Thursday, May 23rd. Piper Sandler Companies's dividend payout ratio (DPR) is 40.82%.

Insider Buying and Selling

In other news, 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 sale, the insider now owns 176,227 shares of the company's stock, valued at approximately $32,408,145.30. The transaction 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 6,662 shares of the company's stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $185.03, for a total value of $1,232,669.86. Following the transaction, the chief executive officer now owns 36,454 shares of the company's stock, valued at $6,745,083.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jonathan J. Doyle sold 19,987 shares of the stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $183.90, for a total transaction of $3,675,609.30. Following the transaction, the insider now directly owns 176,227 shares of the company's stock, valued at approximately $32,408,145.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 53,524 shares of company stock worth $9,838,711. Insiders own 3.00% of the company's stock.

Hedge Funds Weigh In On Piper Sandler Companies

A number of hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC lifted its stake in Piper Sandler Companies by 16.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 59,458 shares of the financial services provider's stock worth $11,802,000 after purchasing an additional 8,510 shares in the last quarter. Raymond James & Associates raised its holdings in shares of Piper Sandler Companies by 2.2% in the 1st quarter. Raymond James & Associates now owns 28,583 shares of the financial services provider's stock valued at $5,673,000 after buying an additional 627 shares during the period. Oliver Luxxe Assets LLC raised its holdings in shares of Piper Sandler Companies by 1.1% in the 1st quarter. Oliver Luxxe Assets LLC now owns 5,954 shares of the financial services provider's stock valued at $1,182,000 after buying an additional 62 shares during the period. Wealthcare Advisory Partners LLC acquired a new position in Piper Sandler Companies during the 1st quarter worth about $298,000. Finally, Mather Group LLC. purchased a new position in Piper Sandler Companies during the 1st quarter valued at about $64,000. 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.

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