Piper Sandler Companies (NYSE:PIPR) Hits New 52-Week High at $187.09

Piper Sandler Companies (NYSE:PIPR)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $187.09 and last traded at $187.16, with a volume of 17632 shares trading hands. The stock had previously closed at $185.77.

Analysts Set New Price Targets

Several brokerages recently issued reports on PIPR. StockNews.com raised Piper Sandler Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, February 28th. JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a research report on Tuesday, April 9th.

Piper Sandler Companies Stock Performance

The business’s 50 day moving average price is $193.89. The stock has a market cap of $3.33 billion, a price-to-earnings ratio of 37.84 and a beta of 1.42.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings results on Friday, February 2nd. The financial services provider reported $4.03 earnings per share for the quarter, beating the consensus estimate of $2.61 by $1.42. The business had revenue of $457.39 million for the quarter, compared to the consensus estimate of $370.12 million. Piper Sandler Companies had a return on equity of 13.27% and a net margin of 6.33%. The company’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.33 EPS. As a group, sell-side analysts forecast that Piper Sandler Companies will post 11.17 EPS for the current year.

Piper Sandler Companies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, March 4th were paid a $0.60 dividend. The ex-dividend date was Friday, March 1st. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.28%. Piper Sandler Companies’s payout ratio is 48.58%.

Insider Transactions at Piper Sandler Companies

In other news, CEO Chad R. Abraham sold 6,662 shares of the company’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $185.03, for a total value of $1,232,669.86. Following the sale, the chief executive officer now owns 36,454 shares in the company, valued at $6,745,083.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Piper Sandler Companies news, CEO Chad R. Abraham sold 6,662 shares of the stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $185.03, for a total transaction of $1,232,669.86. Following the transaction, the chief executive officer now owns 36,454 shares in the company, valued at $6,745,083.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Debbra L. Schoneman sold 4,795 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $190.72, for a total value of $914,502.40. Following the transaction, the president now owns 12,140 shares in the company, valued at approximately $2,315,340.80. The disclosure for this sale can be found here. Insiders have sold 53,524 shares of company stock worth $9,838,711 over the last quarter. 3.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Piper Sandler Companies

A number of hedge funds have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC boosted its position in Piper Sandler Companies by 16.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 59,458 shares of the financial services provider’s stock worth $11,802,000 after purchasing an additional 8,510 shares in the last quarter. Oliver Luxxe Assets LLC raised its holdings in shares of Piper Sandler Companies by 1.1% during the first quarter. Oliver Luxxe Assets LLC now owns 5,954 shares of the financial services provider’s stock valued at $1,182,000 after acquiring an additional 62 shares during the last quarter. Wealthcare Advisory Partners LLC acquired a new position in shares of Piper Sandler Companies during the first quarter valued at approximately $298,000. Mather Group LLC. acquired a new position in shares of Piper Sandler Companies during the first quarter valued at approximately $64,000. Finally, HighPoint Advisor Group LLC acquired a new position in shares of Piper Sandler Companies during the fourth quarter valued at approximately $271,000. Hedge funds and other institutional investors own 72.79% of the company’s stock.

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.