Piper Sandler Companies (NYSE:PIPR) Sees Strong Trading Volume

Shares of Piper Sandler Companies (NYSE:PIPR - Get Free Report) saw strong trading volume on Thursday . 44,846 shares traded hands during mid-day trading, a decline of 52% from the previous session's volume of 93,184 shares.The stock last traded at $201.43 and had previously closed at $200.84.

Wall Street Analyst Weigh In

Several research firms recently commented on PIPR. JMP Securities reaffirmed a "market perform" rating on shares of Piper Sandler Companies in a report on Wednesday, January 10th. StockNews.com upgraded Piper Sandler Companies from a "hold" rating to a "buy" rating in a report on Wednesday, February 28th. Northland Securities cut Piper Sandler Companies from an "outperform" rating to a "market perform" rating in a report on Tuesday, December 19th. Finally, The Goldman Sachs Group raised their price target on Piper Sandler Companies from $171.00 to $193.00 and gave the stock a "buy" rating in a research report on Tuesday, December 19th.

Piper Sandler Companies Price Performance

The stock has a market capitalization of $3.53 billion, a P/E ratio of 40.38 and a beta of 1.42. The firm's 50 day moving average price is $193.80 and its 200 day moving average price is $183.31.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last issued its quarterly earnings data on Friday, February 2nd. The financial services provider reported $4.03 EPS for the quarter, topping the consensus estimate of $2.61 by $1.42. The business had revenue of $457.39 million during the quarter, compared to analyst estimates of $370.12 million. Piper Sandler Companies had a net margin of 6.33% and a return on equity of 13.27%. Piper Sandler Companies's quarterly revenue was up 17.0% compared to the same quarter last year. During the same period last year, the business posted $3.33 earnings per share. On average, 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 firm 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. The ex-dividend date was Friday, March 1st. This represents a $2.40 dividend on an annualized basis and a yield of 1.20%. Piper Sandler Companies's dividend payout ratio (DPR) is currently 48.58%.

Insider Transactions at Piper Sandler Companies

In related news, CEO Chad R. Abraham sold 11,307 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer now owns 24,116 shares in the company, valued at approximately $4,345,220.88. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Chad R. Abraham sold 11,307 shares of the business's stock in a transaction on 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 transaction, the chief executive officer now owns 24,116 shares in the company, valued at $4,345,220.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Debbra L. Schoneman sold 4,795 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $190.72, for a total value of $914,502.40. Following the sale, the president now directly owns 12,140 shares in the company, valued at $2,315,340.80. The disclosure for this sale can be found here. Insiders have sold a total of 53,524 shares of company stock valued at $9,838,711 in the last ninety days. 3.32% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its holdings in Piper Sandler Companies by 7.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 180,658 shares of the financial services provider's stock worth $26,251,000 after buying an additional 11,847 shares during the period. Indiana Trust & Investment Management CO purchased a new stake in shares of Piper Sandler Companies during the third quarter worth about $26,000. Allspring Global Investments Holdings LLC raised its stake in Piper Sandler Companies by 1.0% during 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 purchasing an additional 615 shares during the period. Victory Capital Management Inc. grew its holdings in 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 valued at $1,130,000 after buying an additional 70 shares in the last quarter. Finally, Deutsche Bank AG grew its stake in Piper Sandler Companies by 11.8% during the third quarter. Deutsche Bank AG now owns 9,421 shares of the financial services provider's stock valued at $1,369,000 after acquiring an additional 991 shares in the last quarter. Hedge funds and other institutional investors 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.