Piper Sandler Companies (NYSE:PIPR) Announces Dividend Increase - $0.70 Per Share

Key Points

• Piper Sandler Companies has raised its quarterly dividend to $0.70 per share, marking a 7.7% increase from its previous dividend of $0.65.
• The financial services provider reported $2.95 earnings per share (EPS) for the latest quarter, significantly exceeding analyst expectations of $1.99, and showed a 13.4% year-over-year revenue growth.
• Piper Sandler's current payout ratio is 14.5%, indicating that its dividend is well-covered by earnings.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) declared a quarterly dividend on Friday, August 1st, RTT News reports. Stockholders of record on Friday, August 29th will be given a dividend of 0.70 per share by the financial services provider on Friday, September 12th. This represents a c) dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, August 29th. This is a 7.7% increase from Piper Sandler Companies's previous quarterly dividend of $0.65.

Piper Sandler Companies has a payout ratio of 14.5% meaning its dividend is sufficiently covered by earnings.

Piper Sandler Companies Trading Up 0.9%

Shares of NYSE:PIPR traded up $2.94 on Tuesday, reaching $323.92. 141,996 shares of the company were exchanged, compared to its average volume of 144,645. Piper Sandler Companies has a 1-year low of $202.91 and a 1-year high of $351.80. The company has a market capitalization of $5.76 billion, a price-to-earnings ratio of 27.34 and a beta of 1.50. The stock's 50-day simple moving average is $283.17.

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 earnings per share for the quarter, topping analysts' consensus estimates of $1.99 by $0.96. Piper Sandler Companies had a net margin of 13.18% and a return on equity of 18.71%. The business had revenue of $405.39 million for the quarter, compared to analysts' expectations of $349.40 million. During the same period in the prior year, the company posted $2.52 EPS. The business's revenue for the quarter was up 13.4% on a year-over-year basis. As a group, analysts expect that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Insider Activity at Piper Sandler Companies

In related news, insider Jonathan J. Doyle sold 3,536 shares of the business's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $316.84, for a total value of $1,120,346.24. Following the sale, the insider directly owned 132,910 shares in the company, 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 available at this hyperlink. 2.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. increased its stake in shares of Piper Sandler Companies by 13.8% during the 2nd quarter. Blue Trust Inc. now owns 288 shares of the financial services provider's stock valued at $80,000 after acquiring an additional 35 shares during the last quarter. Quadrant Capital Group LLC increased its stake in shares of Piper Sandler Companies by 5.2% during the 4th quarter. Quadrant Capital Group LLC now owns 754 shares of the financial services provider's stock valued at $226,000 after acquiring an additional 37 shares during the last quarter. AdvisorNet Financial Inc increased its stake in shares of Piper Sandler Companies by 48.1% during the 2nd quarter. AdvisorNet Financial Inc now owns 114 shares of the financial services provider's stock valued at $32,000 after acquiring an additional 37 shares during the last quarter. CWM LLC increased its stake in shares of Piper Sandler Companies by 12.0% during the 2nd quarter. CWM LLC now owns 345 shares of the financial services provider's stock valued at $96,000 after acquiring an additional 37 shares during the last quarter. Finally, Parallel Advisors LLC increased its stake in shares of Piper Sandler Companies by 28.6% during the 1st quarter. Parallel Advisors LLC now owns 216 shares of the financial services provider's stock valued at $53,000 after acquiring an additional 48 shares during the last quarter. Institutional investors and hedge funds 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.