Chad Abraham Sells 3,000 Shares of Piper Sandler Companies (NYSE:PIPR) Stock

Piper Sandler Companies (NYSE:PIPR) CEO Chad Abraham sold 3,000 shares of the stock in a transaction on Friday, November 28th. The stock was sold at an average price of $336.21, for a total value of $1,008,630.00. Following the completion of the transaction, the chief executive officer owned 53,558 shares of the company’s stock, valued at approximately $18,006,735.18. This trade represents a 5.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Piper Sandler Companies Price Performance

Shares of Piper Sandler Companies stock opened at $324.16 on Wednesday. The company has a 50-day moving average of $334.49 and a 200 day moving average of $313.54. The firm has a market cap of $5.73 billion, a price-to-earnings ratio of 27.36 and a beta of 1.50. Piper Sandler Companies has a 1 year low of $202.91 and a 1 year high of $374.77.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings data on Friday, October 31st. The financial services provider reported $3.82 EPS for the quarter, topping the consensus estimate of $2.96 by $0.86. The business had revenue of $455.31 million for the quarter, compared to analyst estimates of $408.40 million. Piper Sandler Companies had a net margin of 13.18% and a return on equity of 18.67%. Piper Sandler Companies’s quarterly revenue was up 33.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.57 earnings per share. On average, equities analysts anticipate that Piper Sandler Companies will post 14.14 EPS for the current year.

Piper Sandler Companies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Tuesday, November 25th will be paid a $0.70 dividend. The ex-dividend date is Tuesday, November 25th. This represents a $2.80 annualized dividend and a dividend yield of 0.9%. Piper Sandler Companies’s dividend payout ratio is presently 21.10%.

Analyst Ratings Changes

A number of research firms recently weighed in on PIPR. Wall Street Zen raised Piper Sandler Companies from a “hold” rating to a “buy” rating in a research report on Sunday, October 12th. The Goldman Sachs Group upgraded Piper Sandler Companies from a “neutral” rating to a “buy” rating and raised their price target for the company from $368.00 to $386.00 in a report on Monday, November 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of Piper Sandler Companies in a research note on Wednesday, October 8th. Finally, Zacks Research raised shares of Piper Sandler Companies from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $362.50.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PIPR. IFP Advisors Inc boosted its position in shares of Piper Sandler Companies by 73.2% during the third quarter. IFP Advisors Inc now owns 272 shares of the financial services provider’s stock valued at $94,000 after buying an additional 115 shares during the last quarter. Swiss Life Asset Management Ltd bought a new position in Piper Sandler Companies during the 3rd quarter valued at about $275,000. CIBC Bancorp USA Inc. purchased a new stake in shares of Piper Sandler Companies during the 3rd quarter valued at about $647,000. Coldstream Capital Management Inc. grew its stake in shares of Piper Sandler Companies by 9.4% in the third quarter. Coldstream Capital Management Inc. now owns 1,946 shares of the financial services provider’s stock worth $675,000 after acquiring an additional 167 shares during the period. Finally, Danske Bank A S purchased a new position in shares of Piper Sandler Companies during the third quarter valued at approximately $35,000. 72.79% of the stock is 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.