Piper Sandler Companies (NYSE:PIPR) Shares Gap Down – Time to Sell?

Piper Sandler Companies (NYSE:PIPR)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $289.48, but opened at $280.79. Piper Sandler Companies shares last traded at $294.09, with a volume of 34,402 shares.

Analyst Upgrades and Downgrades

Separately, JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, September 17th.

Piper Sandler Companies Price Performance

The firm’s 50 day moving average price is $289.73 and its two-hundred day moving average price is $272.90. The stock has a market cap of $5.01 billion, a PE ratio of 48.16 and a beta of 1.39.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings results on Friday, August 2nd. The financial services provider reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.26. The company had revenue of $357.00 million during the quarter, compared to analysts’ expectations of $338.90 million. Piper Sandler Companies had a return on equity of 15.36% and a net margin of 9.23%. The firm’s quarterly revenue was up 23.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.13 earnings per share. Analysts anticipate that Piper Sandler Companies will post 11.53 earnings per share for the current year.

Piper Sandler Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 29th were given a $0.65 dividend. This is a positive change from Piper Sandler Companies’s previous quarterly dividend of $0.60. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date was Thursday, August 29th. Piper Sandler Companies’s dividend payout ratio (DPR) is 44.22%.

Insider Buying and Selling

In other news, Director Philip Soran sold 1,792 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $263.92, for a total value of $472,944.64. Following the transaction, the director now owns 18,341 shares of the company’s stock, valued at approximately $4,840,556.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Philip Soran sold 1,792 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $263.92, for a total value of $472,944.64. Following the transaction, the director now directly owns 18,341 shares in the company, valued at approximately $4,840,556.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jonathan J. Doyle sold 12,695 shares of Piper Sandler Companies stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $236.63, for a total transaction of $3,004,017.85. Following the sale, the insider now owns 160,095 shares of the company’s stock, valued at approximately $37,883,279.85. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,276 shares of company stock valued at $3,936,252. Company insiders own 3.00% of the company’s stock.

Institutional Trading of Piper Sandler Companies

Hedge funds have recently bought and sold shares of the company. Blue Trust Inc. lifted its holdings in shares of Piper Sandler Companies by 194.7% in the 2nd quarter. Blue Trust Inc. now owns 112 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 74 shares during the last quarter. nVerses Capital LLC boosted its position in Piper Sandler Companies by 100.0% during the second quarter. nVerses Capital LLC now owns 200 shares of the financial services provider’s stock valued at $46,000 after buying an additional 100 shares during the period. USA Financial Formulas bought a new position in shares of Piper Sandler Companies during the third quarter valued at about $77,000. FSC Wealth Advisors LLC increased its holdings in shares of Piper Sandler Companies by 39.0% in the second quarter. FSC Wealth Advisors LLC now owns 346 shares of the financial services provider’s stock worth $80,000 after buying an additional 97 shares during the period. Finally, CWM LLC boosted its stake in shares of Piper Sandler Companies by 22.5% during the third quarter. CWM LLC now owns 310 shares of the financial services provider’s stock valued at $88,000 after purchasing an additional 57 shares during the period. 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.