Piper Sandler Companies (NYSE:PIPR) CEO Chad R. Abraham Sells 100 Shares of Stock

Piper Sandler Companies (NYSE:PIPR – Get Rating) CEO Chad R. Abraham sold 100 shares of the company’s stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $130.00, for a total transaction of $13,000.00. Following the completion of the transaction, the chief executive officer now directly owns 29,545 shares in the company, valued at $3,840,850. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Piper Sandler Companies Stock Up 1.2 %

Shares of Piper Sandler Companies stock opened at $130.41 on Tuesday. Piper Sandler Companies has a 12-month low of $102.60 and a 12-month high of $162.20. The company has a quick ratio of 0.39, a current ratio of 1.41 and a debt-to-equity ratio of 0.10. The stock has a 50 day moving average price of $133.31 and a two-hundred day moving average price of $139.02. The stock has a market capitalization of $2.31 billion, a P/E ratio of 22.22 and a beta of 1.38.

Piper Sandler Companies (NYSE:PIPR – Get Rating) last posted its quarterly earnings data on Tuesday, May 2nd. The company reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.96. The business had revenue of $290.24 million during the quarter, compared to the consensus estimate of $299.34 million. Piper Sandler Companies had a net margin of 7.25% and a return on equity of 15.38%. Piper Sandler Companies’s quarterly revenue was down 19.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.12 EPS. Equities analysts expect that Piper Sandler Companies will post 8.86 earnings per share for the current year.

Piper Sandler Companies Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 9th. Investors of record on Friday, May 26th will be given a dividend of $0.60 per share. The ex-dividend date is Thursday, May 25th. This represents a $2.40 annualized dividend and a dividend yield of 1.84%. Piper Sandler Companies’s dividend payout ratio is presently 40.89%.

Institutional Trading of Piper Sandler Companies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PIPR. Ronald Blue Trust Inc. boosted its position in shares of Piper Sandler Companies by 97.6% in the fourth quarter. Ronald Blue Trust Inc. now owns 247 shares of the company’s stock valued at $26,000 after acquiring an additional 122 shares during the period. Belpointe Asset Management LLC bought a new stake in Piper Sandler Companies in the 4th quarter valued at $27,000. WealthPLAN Partners LLC acquired a new stake in Piper Sandler Companies in the 1st quarter worth $29,000. Steward Partners Investment Advisory LLC increased its holdings in shares of Piper Sandler Companies by 328.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 227 shares of the company’s stock worth $30,000 after purchasing an additional 174 shares during the period. Finally, Quadrant Capital Group LLC raised its position in shares of Piper Sandler Companies by 44.7% during the third quarter. Quadrant Capital Group LLC now owns 408 shares of the company’s stock valued at $43,000 after buying an additional 126 shares during the last quarter. Institutional investors and hedge funds own 64.00% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on PIPR. Northland Securities dropped their target price on Piper Sandler Companies from $160.00 to $150.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 29th. StockNews.com started coverage on shares of Piper Sandler Companies in a research report on Thursday, May 18th. They set a “hold” rating on the stock. JMP Securities decreased their target price on shares of Piper Sandler Companies from $180.00 to $174.00 and set a “market outperform” rating for the company in a research report on Monday, April 10th. Finally, The Goldman Sachs Group raised their price target on shares of Piper Sandler Companies from $153.00 to $172.00 and gave the company a “buy” rating in a report on Monday, February 6th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $157.00.

About Piper Sandler Companies

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Piper Sandler Cos. engages in the provision of investment banking and institutional securities services. It offers financial advisory services, equity and debt capital markets products, public finance services, equity research and institutional brokerage, fixed income services, and private equity strategies.