Piper Sandler Companies (NYSE:PIPR) General Counsel John W. Geelan Sells 2,000 Shares

Key Points

• General Counsel John W. Geelan of Piper Sandler Companies sold 2,000 shares at an average price of $322.69, totaling $645,380, reflecting a 13.66% decrease in his ownership.
• Piper Sandler reported impressive quarterly earnings of $2.95 EPS, surpassing estimates by $0.96 and achieving a 13.4% year-over-year revenue increase to $405.39 million.
• The company has increased its quarterly dividend to $0.70 per share, effective September 12th, up from the previous $0.65, reflecting a dividend yield of 0.9%.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) General Counsel John W. Geelan sold 2,000 shares of the company's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $322.69, for a total transaction of $645,380.00. Following the completion of the transaction, the general counsel directly owned 12,645 shares of the company's stock, valued at approximately $4,080,415.05. The trade was a 13.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Piper Sandler Companies Trading Down 1.5%

Shares of Piper Sandler Companies stock traded down $4.98 during trading hours on Thursday, reaching $331.55. 110,761 shares of the company's stock were exchanged, compared to its average volume of 167,962. The business's 50 day moving average is $295.00. Piper Sandler Companies has a fifty-two week low of $202.91 and a fifty-two week high of $351.80. The firm has a market cap of $5.87 billion, a PE ratio of 27.98 and a beta of 1.50.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last issued its earnings results on Friday, August 1st. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.99 by $0.96. The company had revenue of $405.39 million for the quarter, compared to analysts' expectations of $349.40 million. Piper Sandler Companies had a net margin of 13.18% and a return on equity of 18.67%. Piper Sandler Companies's quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.52 EPS. Equities analysts predict that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 29th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, August 29th. This is a positive change from Piper Sandler Companies's previous quarterly dividend of $0.65. Piper Sandler Companies's payout ratio is currently 21.94%.

Institutional Investors Weigh In On Piper Sandler Companies

Institutional investors and hedge funds have recently modified their holdings of the company. Elevation Point Wealth Partners LLC increased its holdings in shares of Piper Sandler Companies by 2.2% during the second quarter. Elevation Point Wealth Partners LLC now owns 1,410 shares of the financial services provider's stock worth $392,000 after purchasing an additional 30 shares during the period. M&T Bank Corp increased its holdings in shares of Piper Sandler Companies by 3.5% during the second quarter. M&T Bank Corp now owns 905 shares of the financial services provider's stock worth $251,000 after purchasing an additional 31 shares during the period. Blue Trust Inc. increased its holdings in shares of Piper Sandler Companies by 13.8% during the second quarter. Blue Trust Inc. now owns 288 shares of the financial services provider's stock worth $80,000 after purchasing an additional 35 shares during the period. AdvisorNet Financial Inc increased its holdings in shares of Piper Sandler Companies by 48.1% during the second quarter. AdvisorNet Financial Inc now owns 114 shares of the financial services provider's stock worth $32,000 after purchasing an additional 37 shares during the period. Finally, CWM LLC increased its holdings in shares of Piper Sandler Companies by 12.0% during the second quarter. CWM LLC now owns 345 shares of the financial services provider's stock worth $96,000 after purchasing an additional 37 shares during the period. 72.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PIPR. Wall Street Zen raised shares of Piper Sandler Companies from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Wolfe Research raised shares of Piper Sandler Companies from a "peer perform" rating to an "outperform" rating and set a $339.00 target price for the company in a research note on Thursday, July 10th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Piper Sandler Companies in a research note on Monday, May 5th.

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.