Piper Sandler Companies (NYSE:PIPR) General Counsel Sells $331,489.80 in Stock

Piper Sandler Companies (NYSE:PIPR) General Counsel John W. Geelan sold 1,570 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $211.14, for a total value 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 approximately $3,558,553.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Piper Sandler Companies Stock Down 0.1 %

Shares of Piper Sandler Companies stock opened at $212.27 on Thursday. Piper Sandler Companies has a 52 week low of $121.57 and a 52 week high of $214.94. The business has a 50 day moving average price of $196.52 and a 200-day moving average price of $191.83. The company has a market cap of $3.76 billion, a PE ratio of 36.10 and a beta of 1.40.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly 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 business had revenue of $335.29 million during the quarter, compared to analyst estimates of $314.97 million. Piper Sandler Companies had a return on equity of 13.83% and a net margin of 7.33%. Piper Sandler Companies’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.35 EPS. As a group, research analysts anticipate that Piper Sandler Companies will post 11.82 EPS for the current year.

Piper Sandler Companies Announces Dividend

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

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Piper Sandler Companies

Institutional investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Piper Sandler Companies by 16.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,517 shares of the financial services provider’s stock worth $511,000 after buying an additional 507 shares during the last quarter. Park Avenue Securities LLC purchased a new position in Piper Sandler Companies in the third quarter worth $379,000. Allspring Global Investments Holdings LLC grew its stake in Piper Sandler Companies by 1.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 60,712 shares of the financial services provider’s stock valued at $8,822,000 after purchasing an additional 615 shares during the period. Victory Capital Management Inc. increased its position in shares of Piper Sandler Companies by 0.9% during the 3rd quarter. Victory Capital Management Inc. now owns 7,775 shares of the financial services provider’s stock valued at $1,130,000 after purchasing an additional 70 shares during the last quarter. Finally, Illinois Municipal Retirement Fund purchased a new stake in shares of Piper Sandler Companies during the 3rd quarter valued at $1,264,000. 72.79% of the stock is owned by 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.