Insider Selling: Piper Sandler Companies (NYSE:PIPR) General Counsel Sells 1,570 Shares of Stock

Piper Sandler Companies (NYSE:PIPR) General Counsel John W. Geelan sold 1,570 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $211.14, for a total transaction of $331,489.80. Following the completion of the sale, the general counsel now directly owns 16,854 shares of the company’s stock, valued at $3,558,553.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Piper Sandler Companies Price Performance

PIPR opened at $212.27 on Thursday. The firm has a market capitalization of $3.76 billion, a price-to-earnings ratio of 36.10 and a beta of 1.40. Piper Sandler Companies has a one year low of $121.57 and a one year high of $214.94. The business has a 50 day simple moving average of $196.52 and a two-hundred day simple moving average of $191.83.

Piper Sandler Companies (NYSE:PIPR) last announced its earnings results on Friday, April 26th. The financial services provider reported $2.79 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.90. The company had revenue of $335.29 million during the quarter, compared to the consensus estimate of $314.97 million. Piper Sandler Companies had a return on equity of 13.83% and a net margin of 7.33%. The firm’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.35 earnings per share. As a group, sell-side analysts expect that Piper Sandler Companies will post 11.82 EPS for the current fiscal year.

Piper Sandler Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 24th will be given a $0.60 dividend. The ex-dividend date is Thursday, May 23rd. This represents a $2.40 annualized dividend and a dividend yield of 1.13%. Piper Sandler Companies’s dividend payout ratio is 40.82%.

Analyst Ratings Changes

PIPR has been the subject of several analyst reports. JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, April 9th. StockNews.com raised shares of Piper Sandler Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, February 28th.

Institutional Trading of Piper Sandler Companies

Institutional investors and hedge funds have recently bought and sold shares of the stock. State Board of Administration of Florida Retirement System raised its position in shares of Piper Sandler Companies by 6.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 5,294 shares of the financial services provider’s stock worth $1,051,000 after acquiring an additional 338 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in Piper Sandler Companies by 16.7% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 55,346 shares of the financial services provider’s stock worth $10,985,000 after purchasing an additional 7,916 shares during the period. ProShare Advisors LLC raised its holdings in Piper Sandler Companies by 7.6% in the first quarter. ProShare Advisors LLC now owns 3,451 shares of the financial services provider’s stock worth $685,000 after purchasing an additional 245 shares in the last quarter. Russell Investments Group Ltd. lifted its position in Piper Sandler Companies by 1,473.3% during the first quarter. Russell Investments Group Ltd. now owns 1,416 shares of the financial services provider’s stock valued at $281,000 after buying an additional 1,326 shares during the period. Finally, Sei Investments Co. boosted its holdings in shares of Piper Sandler Companies by 68.1% during the 1st quarter. Sei Investments Co. now owns 22,204 shares of the financial services provider’s stock valued at $4,408,000 after buying an additional 8,994 shares in the last quarter. 72.79% of the stock is currently owned by hedge funds and other institutional investors.

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.