JMP Securities Reaffirms Market Perform Rating for Piper Sandler Companies (NYSE:PIPR)

JMP Securities reissued their market perform rating on shares of Piper Sandler Companies (NYSE:PIPR) in a research note published on Tuesday, Benzinga reports.

PIPR has been the subject of a number of other research reports. StockNews.com raised shares of Piper Sandler Companies from a hold rating to a buy rating in a research report on Wednesday, February 28th. Northland Securities downgraded shares of Piper Sandler Companies from an outperform rating to a market perform rating in a research report on Tuesday, December 19th. Finally, The Goldman Sachs Group raised their price target on shares of Piper Sandler Companies from $171.00 to $193.00 and gave the stock a buy rating in a research report on Tuesday, December 19th.

Piper Sandler Companies Stock Down 2.5 %

Shares of NYSE:PIPR opened at $193.05 on Tuesday. Piper Sandler Companies has a 52-week low of $120.97 and a 52-week high of $202.76. The company has a 50 day moving average of $195.09 and a two-hundred day moving average of $184.54. The company has a market capitalization of $3.41 billion, a price-to-earnings ratio of 39.08 and a beta of 1.42.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings data on Friday, February 2nd. The financial services provider reported $4.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.61 by $1.42. Piper Sandler Companies had a net margin of 6.33% and a return on equity of 13.27%. The company had revenue of $457.39 million during the quarter, compared to the consensus estimate of $370.12 million. During the same quarter last year, the company earned $3.33 earnings per share. Piper Sandler Companies’s revenue for the quarter was up 17.0% on a year-over-year basis. On average, equities analysts anticipate that Piper Sandler Companies will post 11.17 earnings per share for the current year.

Piper Sandler Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Monday, March 4th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date was Friday, March 1st. Piper Sandler Companies’s dividend payout ratio is presently 48.58%.

Insiders Place Their Bets

In other Piper Sandler Companies news, President Debbra L. Schoneman sold 5,000 shares of Piper Sandler Companies stock in a transaction on Monday, February 5th. The shares were sold at an average price of $184.13, for a total value of $920,650.00. Following the completion of the transaction, the president now owns 48,083 shares of the company’s stock, valued at $8,853,522.79. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Piper Sandler Companies news, President Debbra L. Schoneman sold 5,000 shares of Piper Sandler Companies stock in a transaction on Monday, February 5th. The shares were sold at an average price of $184.13, for a total value of $920,650.00. Following the completion of the transaction, the president now owns 48,083 shares of the company’s stock, valued at $8,853,522.79. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Debbra L. Schoneman sold 4,795 shares of Piper Sandler Companies stock in a transaction on Monday, March 4th. The stock was sold at an average price of $190.72, for a total transaction of $914,502.40. Following the completion of the transaction, the president now directly owns 12,140 shares of the company’s stock, valued at approximately $2,315,340.80. The disclosure for this sale can be found here. Insiders sold a total of 53,524 shares of company stock valued at $9,838,711 over the last 90 days. 3.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Piper Sandler Companies

Hedge funds and other institutional investors have recently modified their holdings of the company. Indiana Trust & Investment Management CO acquired a new position in shares of Piper Sandler Companies during the third quarter valued at $26,000. DHJJ Financial Advisors Ltd. acquired a new stake in Piper Sandler Companies in the third quarter worth about $29,000. GAMMA Investing LLC acquired a new stake in Piper Sandler Companies in the fourth quarter worth about $29,000. Parallel Advisors LLC lifted its holdings in Piper Sandler Companies by 62.1% in the fourth quarter. Parallel Advisors LLC now owns 167 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 64 shares during the period. Finally, Steward Partners Investment Advisory LLC lifted its holdings in Piper Sandler Companies by 328.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 227 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 174 shares during the period. 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.