Piper Sandler Companies (NYSE:PIPR) Reaches New 1-Year High at $200.00

Piper Sandler Companies (NYSE:PIPRGet Free Report)’s share price reached a new 52-week high on Monday . The company traded as high as $200.00 and last traded at $200.18, with a volume of 103 shares. The stock had previously closed at $198.49.

Analysts Set New Price Targets

Several analysts recently issued reports on PIPR shares. StockNews.com raised Piper Sandler Companies from a “hold” rating to a “buy” rating in a research note on Wednesday, February 28th. Northland Securities downgraded Piper Sandler Companies from an “outperform” rating to a “market perform” rating in a report on Tuesday, December 19th. JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a report on Wednesday, January 10th. Finally, The Goldman Sachs Group boosted their price objective on shares of Piper Sandler Companies from $171.00 to $193.00 and gave the company a “buy” rating in a research report on Tuesday, December 19th.

Get Our Latest Research Report on PIPR

Piper Sandler Companies Trading Up 0.9 %

The stock has a market cap of $3.54 billion, a PE ratio of 40.52 and a beta of 1.42. The company has a fifty day moving average of $191.99.

Piper Sandler Companies (NYSE:PIPRGet Free Report) last issued its quarterly earnings results on Friday, February 2nd. The financial services provider reported $4.03 earnings per share for the quarter, topping the consensus estimate of $2.61 by $1.42. The company had revenue of $457.39 million for the quarter, compared to analysts’ expectations of $370.12 million. Piper Sandler Companies had a return on equity of 13.27% and a net margin of 6.33%. The firm’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same period in the prior year, the firm earned $3.33 earnings per share. Sell-side analysts forecast that Piper Sandler Companies will post 11.17 EPS for the current year.

Piper Sandler Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, March 4th were paid a $0.60 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $2.40 annualized dividend and a dividend yield of 1.20%. Piper Sandler Companies’s payout ratio is 48.58%.

Insider Buying and Selling

In other news, insider Jonathan J. Doyle sold 19,987 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $183.90, for a total value of $3,675,609.30. Following the sale, the insider now directly owns 176,227 shares of the company’s stock, valued at approximately $32,408,145.30. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Jonathan J. Doyle sold 19,987 shares of Piper Sandler Companies stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $183.90, for a total value of $3,675,609.30. Following the completion of the transaction, the insider now owns 176,227 shares of the company’s stock, valued at approximately $32,408,145.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jonathan J. Doyle sold 2,013 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $179.79, for a total transaction of $361,917.27. Following the sale, the insider now directly owns 166,214 shares in the company, valued at $29,883,615.06. The disclosure for this sale can be found here. Insiders have sold 53,524 shares of company stock valued at $9,838,711 over the last quarter. Corporate insiders own 3.30% of the company’s stock.

Institutional Trading of Piper Sandler Companies

Several institutional investors have recently added to or reduced their stakes in PIPR. Indiana Trust & Investment Management CO purchased a new stake in shares of Piper Sandler Companies during the 3rd quarter valued at about $26,000. DHJJ Financial Advisors Ltd. purchased a new position in shares of Piper Sandler Companies in the third quarter worth approximately $29,000. GAMMA Investing LLC purchased a new position in shares of Piper Sandler Companies during the 4th quarter worth $29,000. Parallel Advisors LLC increased its stake in shares of Piper Sandler Companies by 62.1% in the 4th quarter. Parallel Advisors LLC now owns 167 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 64 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC raised its holdings in Piper Sandler Companies by 328.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 227 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 174 shares during the period. 72.79% of the stock is currently owned by hedge funds and other institutional investors.

About Piper Sandler Companies

(Get Free Report)

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.

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