Piper Sandler Companies (NYSE:PIPR) Earns Market Perform Rating from JMP Securities

JMP Securities reiterated their market perform rating on shares of Piper Sandler Companies (NYSE:PIPR) in a research note issued to investors on Tuesday morning, Benzinga reports.

Piper Sandler Companies Stock Performance

Shares of NYSE:PIPR opened at $286.99 on Tuesday. The company has a 50-day simple moving average of $268.21 and a 200-day simple moving average of $251.63. Piper Sandler Companies has a one year low of $130.89 and a one year high of $287.90. The stock has a market capitalization of $5.08 billion, a price-to-earnings ratio of 48.81 and a beta of 1.39.

Piper Sandler Companies (NYSE:PIPR) last announced its earnings results on Friday, August 2nd. The financial services provider reported $2.52 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.26. Piper Sandler Companies had a net margin of 9.23% and a return on equity of 15.36%. The business had revenue of $357.00 million during the quarter, compared to analysts’ expectations of $338.90 million. During the same period in the prior year, the company earned $1.13 earnings per share. The business’s revenue was up 23.7% compared to the same quarter last year. As a group, research analysts forecast that Piper Sandler Companies will post 11.53 EPS for the current fiscal year.

Piper Sandler Companies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 29th were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.91%. This is a boost from Piper Sandler Companies’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Thursday, August 29th. Piper Sandler Companies’s dividend payout ratio is presently 44.22%.

Insider Activity

In other news, insider Jonathan J. Doyle sold 12,695 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $236.63, for a total transaction of $3,004,017.85. Following the transaction, the insider now directly owns 160,095 shares in the company, valued at $37,883,279.85. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Jonathan J. Doyle sold 12,695 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $236.63, for a total transaction of $3,004,017.85. Following the transaction, the insider now directly owns 160,095 shares in the company, valued at $37,883,279.85. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Philip Soran sold 1,792 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $263.92, for a total transaction of $472,944.64. Following the transaction, the director now owns 18,341 shares in the company, valued at $4,840,556.72. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,276 shares of company stock valued at $3,936,252. Insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in PIPR. Blue Trust Inc. grew its position in Piper Sandler Companies by 194.7% during the second quarter. Blue Trust Inc. now owns 112 shares of the financial services provider’s stock worth $26,000 after buying an additional 74 shares during the period. Parallel Advisors LLC grew its position in Piper Sandler Companies by 62.1% during the fourth quarter. Parallel Advisors LLC now owns 167 shares of the financial services provider’s stock worth $29,000 after buying an additional 64 shares during the period. nVerses Capital LLC grew its position in Piper Sandler Companies by 100.0% during the second quarter. nVerses Capital LLC now owns 200 shares of the financial services provider’s stock worth $46,000 after buying an additional 100 shares during the period. Mather Group LLC. acquired a new position in Piper Sandler Companies during the first quarter worth about $64,000. Finally, Quadrant Capital Group LLC grew its position in Piper Sandler Companies by 21.1% during the fourth quarter. Quadrant Capital Group LLC now owns 460 shares of the financial services provider’s stock worth $80,000 after buying an additional 80 shares during the period. 72.79% of the stock is currently owned by institutional investors and hedge funds.

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.