Piper Sandler Companies (NYSE:PIPR) Sees Large Volume Increase

Shares of Piper Sandler Companies (NYSE:PIPR – Get Rating) saw unusually-strong trading volume on Friday . Approximately 6,367 shares traded hands during trading, a decline of 92% from the previous session’s volume of 81,372 shares.The stock last traded at $142.28 and had previously closed at $142.52.

Analysts Set New Price Targets

Several analysts have issued reports on PIPR shares. Northland Securities boosted their target price on Piper Sandler Companies to $135.00 in a research note on Tuesday, November 1st. StockNews.com initiated coverage on Piper Sandler Companies in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, JMP Securities reduced their target price on Piper Sandler Companies from $178.00 to $160.00 and set a “market outperform” rating for the company in a research report on Tuesday, January 10th.

Piper Sandler Companies Price Performance

The business has a 50-day simple moving average of $139.24 and a 200 day simple moving average of $124.40. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.70 and a current ratio of 1.31. The firm has a market cap of $2.55 billion, a P/E ratio of 13.23 and a beta of 1.42.

Piper Sandler Companies (NYSE:PIPR – Get Rating) last posted its earnings results on Friday, October 28th. The company reported $2.32 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.24. The firm had revenue of $331.75 million for the quarter, compared to the consensus estimate of $321.60 million. Piper Sandler Companies had a return on equity of 23.87% and a net margin of 11.03%. The business’s revenue for the quarter was down 25.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.55 EPS. On average, analysts anticipate that Piper Sandler Companies will post 10.13 earnings per share for the current fiscal year.

Piper Sandler Companies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 9th. Shareholders of record on Wednesday, November 23rd were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Tuesday, November 22nd. This represents a $2.40 annualized dividend and a yield of 1.68%. Piper Sandler Companies’s dividend payout ratio is 22.24%.

Insider Buying and Selling at Piper Sandler Companies

In other Piper Sandler Companies news, insider Jonathan J. Doyle sold 5,000 shares of the stock in a transaction on Thursday, December 22nd. The stock was sold at an average price of $133.19, for a total transaction of $665,950.00. Following the sale, the insider now directly owns 247,870 shares in the company, valued at approximately $33,013,805.30. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 3.32% of the company’s stock.

Hedge Funds Weigh In On Piper Sandler Companies

Several hedge funds and other institutional investors have recently modified their holdings of the company. State of Alaska Department of Revenue lifted its holdings in shares of Piper Sandler Companies by 3.7% during the 4th quarter. State of Alaska Department of Revenue now owns 9,840 shares of the company’s stock valued at $1,281,000 after buying an additional 348 shares during the period. Bank of New York Mellon Corp raised its holdings in Piper Sandler Companies by 0.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 174,994 shares of the company’s stock worth $18,330,000 after purchasing an additional 791 shares during the period. Teachers Retirement System of The State of Kentucky bought a new position in Piper Sandler Companies in the 3rd quarter worth $437,000. M&T Bank Corp bought a new position in Piper Sandler Companies in the 3rd quarter worth $516,000. Finally, Captrust Financial Advisors raised its holdings in Piper Sandler Companies by 5.5% in the 3rd quarter. Captrust Financial Advisors now owns 2,282 shares of the company’s stock worth $239,000 after purchasing an additional 118 shares during the period. 64.00% of the stock is owned by institutional investors.

About Piper Sandler Companies

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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. The company offers investment banking and institutional sales, trading, and research services for various equity and fixed income products.