Piper Sandler Companies (NYSE:PIPR) Trading Down 3.8%

Piper Sandler Companies (NYSE:PIPR)’s stock price fell 3.8% during trading on Tuesday . The stock traded as low as $259.81 and last traded at $262.45. 163,664 shares were traded during trading, an increase of 36% from the average session volume of 120,008 shares. The stock had previously closed at $272.70.

Analyst Ratings Changes

Separately, JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, June 11th.

Piper Sandler Companies Trading Down 3.8 %

The stock has a market cap of $4.65 billion, a PE ratio of 44.63 and a beta of 1.41. The company’s 50 day moving average is $261.95 and its 200-day moving average is $240.87.

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

Piper Sandler Companies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Thursday, August 29th will be given a $0.65 dividend. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $2.60 annualized dividend and a dividend yield of 0.99%. This is an increase from Piper Sandler Companies’s previous quarterly dividend of $0.60. Piper Sandler Companies’s payout ratio is presently 44.22%.

Insider Activity

In other Piper Sandler Companies news, insider Jonathan J. Doyle sold 12,695 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $236.63, for a total transaction of $3,004,017.85. Following the transaction, the insider now owns 160,095 shares of the company’s stock, valued at approximately $37,883,279.85. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Piper Sandler Companies news, insider Jonathan J. Doyle sold 12,695 shares of the stock in a transaction on 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 sale, the insider now directly owns 160,095 shares of the company’s stock, valued at $37,883,279.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Philip Soran sold 1,792 shares of the firm’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 completion of 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. In the last 90 days, insiders have sold 16,276 shares of company stock worth $3,936,252. 3.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Piper Sandler Companies

A number of hedge funds have recently added to or reduced their stakes in PIPR. Blue Trust Inc. increased its holdings in shares of Piper Sandler Companies by 194.7% in the 2nd quarter. Blue Trust Inc. now owns 112 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 74 shares during the period. GAMMA Investing LLC bought a new stake in shares of Piper Sandler Companies during the fourth quarter valued at approximately $29,000. Parallel Advisors LLC boosted its position in shares of 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 increased its position in Piper Sandler Companies by 100.0% in the 2nd quarter. nVerses Capital LLC now owns 200 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 100 shares during the period. Finally, Mather Group LLC. acquired a new stake in Piper Sandler Companies in the 1st quarter valued at approximately $64,000. 72.79% of the stock is currently owned by institutional investors.

About Piper Sandler Companies

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.