Piper Sandler Companies Stock Set to Split on Tuesday, March 24th (NYSE:PIPR)

Shares of Piper Sandler Companies (NYSE:PIPR) are scheduled to split on Tuesday, March 24th. The 4-1 split was announced on Friday, February 6th. The newly issued shares will be payable to shareholders after the closing bell on Monday, March 23rd.

Piper Sandler Companies Price Performance

PIPR opened at $293.65 on Friday. The stock has a market capitalization of $5.23 billion, a price-to-earnings ratio of 18.57, a PEG ratio of 1.62 and a beta of 1.54. The business has a fifty day moving average price of $340.75 and a 200 day moving average price of $339.11. Piper Sandler Companies has a 12 month low of $202.91 and a 12 month high of $380.26.

Piper Sandler Companies (NYSE:PIPR) last issued its earnings results on Friday, February 6th. The company reported $6.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.72 by $2.16. The business had revenue of $635.00 million for the quarter, compared to analyst estimates of $516.52 million. Piper Sandler Companies had a net margin of 14.77% and a return on equity of 21.85%. The company’s revenue for the quarter was up 27.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.80 EPS.

Piper Sandler Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Tuesday, March 3rd will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, March 3rd. Piper Sandler Companies’s dividend payout ratio (DPR) is currently 17.71%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Northland Securities upgraded Piper Sandler Companies from a “market perform” rating to an “outperform” rating and set a $350.00 price target for the company in a report on Wednesday. Weiss Ratings restated a “hold (c)” rating on shares of Piper Sandler Companies in a research note on Friday, January 23rd. The Goldman Sachs Group upgraded shares of Piper Sandler Companies from a “neutral” rating to a “buy” rating and boosted their target price for the company from $368.00 to $386.00 in a research note on Monday, November 10th. Bank of America initiated coverage on shares of Piper Sandler Companies in a report on Monday, January 26th. They set an “underperform” rating and a $385.00 target price on the stock. Finally, Wall Street Zen upgraded shares of Piper Sandler Companies from a “hold” rating to a “buy” rating in a research report on Tuesday, February 24th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $379.75.

Insider Buying and Selling at Piper Sandler Companies

In other news, President Debbra L. Schoneman sold 5,240 shares of Piper Sandler Companies stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $350.99, for a total transaction of $1,839,187.60. Following the sale, the president owned 2,896 shares of the company’s stock, valued at approximately $1,016,467.04. The trade was a 64.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 2.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC grew its holdings in Piper Sandler Companies by 89.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 74 shares of the company’s stock worth $25,000 after acquiring an additional 35 shares during the period. Aster Capital Management DIFC Ltd lifted its holdings in Piper Sandler Companies by 1,440.0% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 77 shares of the company’s stock valued at $26,000 after acquiring an additional 72 shares during the last quarter. CENTRAL TRUST Co acquired a new stake in Piper Sandler Companies in the 2nd quarter valued at about $28,000. Los Angeles Capital Management LLC bought a new position in shares of Piper Sandler Companies during the 4th quarter valued at about $28,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in shares of Piper Sandler Companies in the 2nd quarter worth approximately $31,000. 72.79% of the stock is currently owned by institutional investors.

About Piper Sandler Companies

Piper Sandler Companies (NYSE: PIPR) is an investment bank and institutional securities firm that provides a range of capital markets and advisory services to corporations, institutions, municipalities and high-net-worth individuals. The firm’s core activities include investment banking and M&A advisory, underwriting and distribution of equity and debt securities, public finance, and sector-focused advisory across industries such as healthcare, energy, financial services and technology.

In addition to traditional investment banking, Piper Sandler offers equity and fixed income research, institutional sales and trading, and market-making services.