Piper Sandler Companies (NYSE:PIPR) General Counsel John W. Geelan Sells 1,570 Shares

Piper Sandler Companies (NYSE:PIPR) General Counsel John W. Geelan sold 1,570 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $211.14, for a total transaction of $331,489.80. Following the completion of the sale, the general counsel now directly owns 16,854 shares in the company, valued at approximately $3,558,553.56. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Piper Sandler Companies Stock Performance

Shares of PIPR traded up $2.50 during mid-day trading on Tuesday, reaching $212.48. The company had a trading volume of 130,478 shares, compared to its average volume of 97,815. The firm has a 50-day moving average price of $195.39 and a 200 day moving average price of $191.07. Piper Sandler Companies has a 52 week low of $121.57 and a 52 week high of $214.94. The company has a market capitalization of $3.77 billion, a price-to-earnings ratio of 36.14 and a beta of 1.40.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings results on Friday, April 26th. The financial services provider reported $2.79 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.90. The firm had revenue of $335.29 million for the quarter, compared to analysts’ expectations of $314.97 million. Piper Sandler Companies had a net margin of 7.33% and a return on equity of 13.83%. The business’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.35 earnings per share. As a group, research analysts forecast that Piper Sandler Companies will post 11.82 earnings per share for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 24th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $2.40 annualized dividend and a yield of 1.13%. Piper Sandler Companies’s payout ratio is 40.82%.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Piper Sandler Companies

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC purchased a new position in shares of Piper Sandler Companies in the fourth quarter worth approximately $29,000. Parallel Advisors LLC raised its stake in shares of Piper Sandler Companies by 62.1% in 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. West Oak Capital LLC purchased a new position in shares of Piper Sandler Companies during the 4th quarter valued at about $33,000. Mather Group LLC. purchased a new stake in Piper Sandler Companies in the 1st quarter worth approximately $64,000. Finally, Quadrant Capital Group LLC lifted its stake in shares of Piper Sandler Companies by 21.1% during the 4th quarter. Quadrant Capital Group LLC now owns 460 shares of the financial services provider’s stock valued at $80,000 after buying an additional 80 shares in the last quarter. 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.