Piper Sandler Companies (NYSE:PIPR) Rating Reiterated by JMP Securities

JMP Securities restated their market perform rating on shares of Piper Sandler Companies (NYSE:PIPR) in a research report released on Tuesday morning, Benzinga reports.

Piper Sandler Companies Price Performance

Piper Sandler Companies stock traded up $3.03 during mid-day trading on Tuesday, reaching $274.47. 21,327 shares of the company were exchanged, compared to its average volume of 107,701. Piper Sandler Companies has a 12 month low of $130.89 and a 12 month high of $280.45. The company has a fifty day simple moving average of $265.55 and a 200-day simple moving average of $248.06. The firm has a market cap of $4.86 billion, a PE ratio of 46.68 and a beta of 1.40.

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

Piper Sandler Companies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 29th were paid a $0.65 dividend. This is a positive change from Piper Sandler Companies’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $2.60 annualized dividend and a dividend yield of 0.95%. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 44.22%.

Insider Activity

In related news, insider Jonathan J. Doyle sold 12,695 shares of the business’s stock in a transaction on Monday, August 5th. The stock was 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 in the company, valued at approximately $37,883,279.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Piper Sandler Companies news, General Counsel John W. Geelan sold 1,789 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $256.73, for a total value of $459,289.97. Following the completion of the transaction, the general counsel now owns 15,065 shares of the company’s stock, valued at approximately $3,867,637.45. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jonathan J. Doyle sold 12,695 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $236.63, for a total value of $3,004,017.85. Following the completion of the sale, the insider now owns 160,095 shares in the company, valued at approximately $37,883,279.85. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,276 shares of company stock worth $3,936,252. Insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Piper Sandler Companies

A number of institutional investors have recently made changes to their positions in PIPR. Blue Trust Inc. boosted its position in shares of Piper Sandler Companies by 194.7% during the 2nd quarter. Blue Trust Inc. now owns 112 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 74 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of Piper Sandler Companies by 62.1% during the 4th quarter. Parallel Advisors LLC now owns 167 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 64 shares in the last quarter. nVerses Capital LLC boosted its position in shares of Piper Sandler Companies by 100.0% during the 2nd quarter. nVerses Capital LLC now owns 200 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 100 shares in the last quarter. Mather Group LLC. bought a new stake in shares of Piper Sandler Companies during the 1st quarter valued at about $64,000. Finally, Quadrant Capital Group LLC boosted its position 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 purchasing 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.