Insider Selling: Piper Sandler Companies (NYSE:PIPR) General Counsel Sells 1,789 Shares of Stock

Piper Sandler Companies (NYSE:PIPR) General Counsel John W. Geelan sold 1,789 shares of the firm’s stock in a transaction on 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 in the company, valued at $3,867,637.45. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Piper Sandler Companies Stock Up 1.4 %

NYSE:PIPR traded up $3.69 during mid-day trading on Friday, hitting $258.79. 164,700 shares of the company traded hands, compared to its average volume of 110,878. The stock’s fifty day moving average price is $254.80 and its 200-day moving average price is $227.88. The firm has a market cap of $4.58 billion, a price-to-earnings ratio of 44.01 and a beta of 1.41. Piper Sandler Companies has a one year low of $130.89 and a one year high of $280.45.

Piper Sandler Companies (NYSE:PIPR) last released its earnings results on Friday, August 2nd. The financial services provider reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.26. The company had revenue of $357.00 million during the quarter, compared to analyst estimates of $338.90 million. Piper Sandler Companies had a net margin of 7.33% and a return on equity of 13.65%. The firm’s quarterly revenue was up 23.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.13 EPS. Equities analysts predict that Piper Sandler Companies will post 11.82 EPS for the current year.

Piper Sandler Companies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Thursday, August 29th will be issued a $0.65 dividend. The ex-dividend date is Thursday, August 29th. This represents a $2.60 annualized dividend and a yield of 1.00%. This is an increase from Piper Sandler Companies’s previous quarterly dividend of $0.60. Piper Sandler Companies’s dividend payout ratio is currently 44.22%.

Analysts Set New Price Targets

Separately, JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, June 11th.

Institutional Investors Weigh In On Piper Sandler Companies

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Piper Sandler Companies by 1.1% during the first quarter. Vanguard Group Inc. now owns 1,971,201 shares of the financial services provider’s stock worth $391,264,000 after purchasing an additional 20,891 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Piper Sandler Companies by 1.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 506,340 shares of the financial services provider’s stock valued at $88,546,000 after buying an additional 5,851 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Piper Sandler Companies by 1.6% in the fourth quarter. Franklin Resources Inc. now owns 316,893 shares of the financial services provider’s stock worth $55,415,000 after buying an additional 5,089 shares in the last quarter. Lord Abbett & CO. LLC boosted its position in shares of Piper Sandler Companies by 7.4% during the first quarter. Lord Abbett & CO. LLC now owns 285,542 shares of the financial services provider’s stock worth $56,677,000 after acquiring an additional 19,662 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in Piper Sandler Companies by 37.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 220,638 shares of the financial services provider’s stock valued at $38,583,000 after acquiring an additional 59,915 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.