Debbra Schoneman Sells 5,240 Shares of Piper Sandler Companies (NYSE:PIPR) Stock

Piper Sandler Companies (NYSE:PIPR) President Debbra Schoneman sold 5,240 shares of the company’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $350.99, for a total value 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. This represents a 64.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Piper Sandler Companies Trading Up 0.6%

Shares of NYSE PIPR opened at $323.34 on Friday. The company has a market cap of $5.72 billion, a price-to-earnings ratio of 20.45, a PEG ratio of 1.78 and a beta of 1.53. Piper Sandler Companies has a 12 month low of $202.91 and a 12 month high of $380.26. The stock has a 50-day moving average price of $352.39 and a two-hundred day moving average price of $340.28.

Piper Sandler Companies’s stock is scheduled to split before the market opens 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 market closes on Monday, March 23rd.

Piper Sandler Companies (NYSE:PIPR) last issued its earnings results on Friday, February 6th. The company reported $6.88 earnings per share for the quarter, beating analysts’ consensus estimates of $4.72 by $2.16. The firm 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 22.50%. The company’s quarterly revenue was up 27.4% on a year-over-year basis. During the same quarter last year, the business posted $4.80 earnings per share.

Piper Sandler Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Tuesday, March 3rd will be given a dividend of $0.70 per share. The ex-dividend date is Tuesday, March 3rd. This represents a $2.80 dividend on an annualized basis and a yield of 0.9%. Piper Sandler Companies’s payout ratio is currently 17.71%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PIPR. Wolfe Research restated an “outperform” rating and set a $398.00 price target on shares of Piper Sandler Companies in a report on Wednesday, January 7th. Zacks Research raised shares of Piper Sandler Companies from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 10th. Wall Street Zen upgraded shares of Piper Sandler Companies from a “hold” rating to a “buy” rating in a research report on Sunday, February 8th. The Goldman Sachs Group upgraded shares of Piper Sandler Companies from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $368.00 to $386.00 in a report on Monday, November 10th. Finally, Bank of America assumed coverage on Piper Sandler Companies in a report on Monday, January 26th. They issued an “underperform” rating and a $385.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Piper Sandler Companies currently has a consensus rating of “Moderate Buy” and an average price target of $389.67.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Piper Sandler Companies by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 2,128,150 shares of the company’s stock valued at $722,954,000 after purchasing an additional 17,964 shares in the last quarter. Invesco Ltd. increased its holdings in Piper Sandler Companies by 2.9% in the third quarter. Invesco Ltd. now owns 714,544 shares of the company’s stock worth $247,940,000 after purchasing an additional 20,232 shares in the last quarter. Geode Capital Management LLC lifted its stake in Piper Sandler Companies by 2.5% in the second quarter. Geode Capital Management LLC now owns 400,772 shares of the company’s stock valued at $111,402,000 after buying an additional 9,759 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Piper Sandler Companies by 6.4% during the 4th quarter. JPMorgan Chase & Co. now owns 294,624 shares of the company’s stock worth $100,087,000 after buying an additional 17,694 shares in the last quarter. Finally, Stephens Investment Management Group LLC grew its position in shares of Piper Sandler Companies by 11.6% during the 2nd quarter. Stephens Investment Management Group LLC now owns 279,542 shares of the company’s stock worth $77,696,000 after buying an additional 29,035 shares during the period. 72.79% of the stock is 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.