Insider Selling: Piper Sandler Companies (NYSE:PIPR) Insider Sells 3,536 Shares of Stock

Key Points

• Insider Jonathan J. Doyle sold 3,536 shares of Piper Sandler at an average price of $316.84, resulting in a total transaction of $1,120,346.24, which decreased his ownership by 2.59%.
• Piper Sandler reported a second-quarter EPS of $2.95, exceeding estimates by $0.96, while revenue was $405.39 million, up 13.4% year-over-year.
• The company announced an increase in its quarterly dividend from $0.65 to $0.70 per share, with the next payment scheduled for September 12th.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) insider Jonathan J. Doyle sold 3,536 shares of the stock in a transaction on Monday, August 4th. The stock was sold at an average price of $316.84, for a total transaction of $1,120,346.24. Following the completion of the sale, the insider directly owned 132,910 shares of the company's stock, valued at $42,111,204.40. The trade was a 2.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Piper Sandler Companies Stock Up 1.0%

NYSE PIPR traded up $3.18 during trading on Friday, reaching $324.43. The company's stock had a trading volume of 24,137 shares, compared to its average volume of 144,206. The company has a market capitalization of $5.77 billion, a PE ratio of 27.38 and a beta of 1.50. The stock has a 50-day simple moving average of $287.31. Piper Sandler Companies has a 1-year low of $202.91 and a 1-year high of $351.80.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last announced its earnings results on Friday, August 1st. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.99 by $0.96. The business had revenue of $405.39 million for the quarter, compared to analyst estimates of $349.40 million. Piper Sandler Companies had a net margin of 13.18% and a return on equity of 18.71%. Piper Sandler Companies's revenue was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.52 earnings per share. On average, sell-side analysts expect 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 annualized dividend and a dividend yield of 0.9%. 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%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Wolfe Research upgraded shares of 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. JMP Securities restated a "market perform" rating on shares of Piper Sandler Companies in a research report on Monday, May 5th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. LPL Financial LLC grew its stake in shares of Piper Sandler Companies by 62.5% during the 4th quarter. LPL Financial LLC now owns 5,617 shares of the financial services provider's stock worth $1,685,000 after acquiring an additional 2,161 shares in the last quarter. Pictet Asset Management Holding SA raised its stake in Piper Sandler Companies by 22.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 2,761 shares of the financial services provider's stock worth $828,000 after acquiring an additional 509 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Piper Sandler Companies by 8.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 8,887 shares of the financial services provider's stock worth $2,666,000 after acquiring an additional 678 shares in the last quarter. Arete Wealth Advisors LLC grew its holdings in shares of Piper Sandler Companies by 13.2% during the fourth quarter. Arete Wealth Advisors LLC now owns 1,250 shares of the financial services provider's stock worth $375,000 after purchasing an additional 146 shares during the last quarter. Finally, Wells Fargo & Company MN grew its holdings in shares of Piper Sandler Companies by 29.5% during the fourth quarter. Wells Fargo & Company MN now owns 11,483 shares of the financial services provider's stock worth $3,445,000 after purchasing an additional 2,613 shares during the last quarter. Institutional investors and hedge funds 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.