Piper Sandler Companies (NYSE:PIPR) President Debbra Schoneman Sells 2,500 Shares

Piper Sandler Companies (NYSE:PIPR) President Debbra Schoneman sold 2,500 shares of the company’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $330.33, for a total value of $825,825.00. Following the completion of the sale, the president owned 2,896 shares of the company’s stock, valued at $956,635.68. This represents a 46.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Piper Sandler Companies Trading Up 2.7%

Shares of PIPR stock opened at $335.33 on Thursday. Piper Sandler Companies has a twelve month low of $202.91 and a twelve month high of $374.77. The stock has a market capitalization of $5.93 billion, a price-to-earnings ratio of 28.30 and a beta of 1.50. The stock has a fifty day simple moving average of $340.24 and a two-hundred day simple moving average of $302.94.

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

Piper Sandler Companies Dividend Announcement

The business 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 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Tuesday, November 25th. Piper Sandler Companies’s dividend payout ratio is 21.10%.

Hedge Funds Weigh In On Piper Sandler Companies

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Oppenheimer Asset Management Inc. lifted its position in Piper Sandler Companies by 6.5% during the third quarter. Oppenheimer Asset Management Inc. now owns 7,920 shares of the financial services provider’s stock worth $2,748,000 after buying an additional 483 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in Piper Sandler Companies by 118.5% during the third quarter. Smartleaf Asset Management LLC now owns 721 shares of the financial services provider’s stock worth $254,000 after acquiring an additional 391 shares during the last quarter. Bessemer Group Inc. increased its stake in Piper Sandler Companies by 731.1% during the third quarter. Bessemer Group Inc. now owns 748 shares of the financial services provider’s stock worth $260,000 after acquiring an additional 658 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in Piper Sandler Companies by 10.0% during the third quarter. Envestnet Asset Management Inc. now owns 90,825 shares of the financial services provider’s stock worth $31,515,000 after acquiring an additional 8,276 shares during the last quarter. Finally, Hantz Financial Services Inc. increased its stake in Piper Sandler Companies by 8.8% during the third quarter. Hantz Financial Services Inc. now owns 3,966 shares of the financial services provider’s stock worth $1,376,000 after acquiring an additional 320 shares during the last quarter. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Wall Street Analyst Weigh In

PIPR has been the subject of a number of analyst reports. Wolfe Research upgraded Piper Sandler Companies from a “peer perform” rating to an “outperform” rating and set a $339.00 price objective for the company in a research note on Thursday, July 10th. Wall Street Zen raised Piper Sandler Companies from a “hold” rating to a “buy” rating in a report on Sunday, October 12th. Zacks Research raised Piper Sandler Companies from a “hold” rating to a “strong-buy” rating in a report on Monday. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Piper Sandler Companies in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $312.50.

Piper Sandler Companies Company Profile

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.