Piper Sandler Companies (NYSE:PIPR) President Sells $825,825.00 in Stock

Piper Sandler Companies (NYSE:PIPR) President Debbra Schoneman sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $330.33, for a total value of $825,825.00. Following the transaction, the president owned 2,896 shares in the company, valued at approximately $956,635.68. This trade represents a 46.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Piper Sandler Companies Price Performance

Shares of PIPR stock opened at $326.33 on Friday. The stock has a market cap of $5.77 billion, a PE ratio of 27.54 and a beta of 1.50. The stock has a 50-day moving average of $339.89 and a 200-day moving average of $303.27. Piper Sandler Companies has a one year low of $202.91 and a one year high of $374.77.

Piper Sandler Companies (NYSE:PIPR) last issued its earnings results on Friday, October 31st. The financial services provider reported $3.82 EPS for the quarter, beating the consensus estimate of $2.96 by $0.86. The firm had revenue of $455.31 million during the quarter, compared to the consensus estimate of $408.40 million. Piper Sandler Companies had a net margin of 13.18% and a return on equity of 18.67%. The business’s quarterly revenue was up 33.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.57 earnings per share. As a group, research analysts anticipate that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Tuesday, November 25th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, November 25th. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 21.10%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Wall Street Zen raised Piper Sandler Companies from a “hold” rating to a “buy” rating in a research note on Sunday, October 12th. Zacks Research upgraded Piper Sandler Companies from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 3rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Piper Sandler Companies in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Piper Sandler Companies presently has a consensus rating of “Moderate Buy” and a consensus price target of $312.50.

Hedge Funds Weigh In On Piper Sandler Companies

Several hedge funds have recently made changes to their positions in PIPR. CENTRAL TRUST Co bought a new stake in shares of Piper Sandler Companies in the second quarter worth $28,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Piper Sandler Companies by 495.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 125 shares of the financial services provider’s stock valued at $31,000 after buying an additional 104 shares during the last quarter. Twin Peaks Wealth Advisors LLC bought a new stake in Piper Sandler Companies during the 2nd quarter worth about $31,000. Whittier Trust Co. acquired a new position in shares of Piper Sandler Companies during the 3rd quarter worth about $31,000. Finally, AdvisorNet Financial Inc grew its holdings in shares of Piper Sandler Companies by 48.1% in the 2nd quarter. AdvisorNet Financial Inc now owns 114 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 37 shares in the last quarter. 72.79% of the stock is owned by institutional investors.

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.