Piper Sandler Companies (NYSE:PIPR) Director Sells $831,636.00 in Stock

Key Points

• Director Scott C. Taylor sold 2,600 shares of Piper Sandler Companies for a total of $831,636, decreasing his ownership by 13.74% to 16,319 shares.
• Piper Sandler reported quarterly earnings of $2.95 EPS, surpassing expectations, with revenue at $405.39 million, reflecting a 13.4% increase year-over-year.
• The company announced a quarterly dividend of $0.70 per share, raising its annualized dividend to $2.80 with a yield of 0.9%.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) Director Scott C. Taylor sold 2,600 shares of the business's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $319.86, for a total transaction of $831,636.00. Following the sale, the director directly owned 16,319 shares in the company, valued at $5,219,795.34. This trade represents a 13.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Piper Sandler Companies Stock Performance

Shares of PIPR traded down $1.92 during midday trading on Thursday, reaching $320.90. The stock had a trading volume of 118,423 shares, compared to its average volume of 144,990. The stock has a market cap of $5.70 billion, a price-to-earnings ratio of 27.08 and a beta of 1.50. The company's 50 day simple moving average is $285.95. Piper Sandler Companies has a one year low of $202.91 and a one year high of $351.80.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The financial services provider reported $2.95 EPS for the quarter, topping analysts' consensus estimates of $1.99 by $0.96. The business had revenue of $405.39 million during the quarter, compared to analysts' expectations of $349.40 million. Piper Sandler Companies had a return on equity of 18.71% and a net margin of 13.18%. Piper Sandler Companies's quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter last year, the company posted $2.52 earnings per share. As a group, analysts anticipate that Piper Sandler Companies will post 14.14 earnings per share for the current fiscal year.

Piper Sandler Companies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 29th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, August 29th. This is a boost from Piper Sandler Companies's previous quarterly dividend of $0.65. Piper Sandler Companies's payout ratio is presently 23.63%.

Institutional Investors Weigh In On Piper Sandler Companies

A number of large investors have recently added to or reduced their stakes in PIPR. Invesco Ltd. boosted its stake in Piper Sandler Companies by 17.2% in the 4th quarter. Invesco Ltd. now owns 697,824 shares of the financial services provider's stock valued at $209,312,000 after purchasing an additional 102,426 shares during the period. Westwood Holdings Group Inc. lifted its holdings in shares of Piper Sandler Companies by 35.0% during the first quarter. Westwood Holdings Group Inc. now owns 357,167 shares of the financial services provider's stock worth $88,456,000 after buying an additional 92,527 shares in the last quarter. GW&K Investment Management LLC boosted its position in shares of Piper Sandler Companies by 0.8% in the first quarter. GW&K Investment Management LLC now owns 323,483 shares of the financial services provider's stock valued at $80,114,000 after acquiring an additional 2,620 shares during the period. Stephens Investment Management Group LLC grew its stake in shares of Piper Sandler Companies by 11.6% in the second quarter. Stephens Investment Management Group LLC now owns 279,542 shares of the financial services provider's stock valued at $77,696,000 after acquiring an additional 29,035 shares in the last quarter. Finally, Nuveen LLC bought a new position in Piper Sandler Companies during the first quarter worth about $49,826,000. Institutional investors own 72.79% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. JMP Securities reaffirmed a "market perform" rating on shares of Piper Sandler Companies in a research report on Monday, May 5th. Wolfe Research raised Piper Sandler Companies from a "peer perform" rating to an "outperform" rating and set a $339.00 price target on the stock in a research report on Thursday, July 10th.

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.

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