Piper Sandler Companies (NYSE:PIPR) CFO Sells $443,851.23 in Stock

Piper Sandler Companies (NYSE:PIPR) CFO Katherine Patricia Clune sold 1,367 shares of the firm’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $324.69, for a total transaction of $443,851.23. Following the completion of the transaction, the chief financial officer owned 10,425 shares of the company’s stock, valued at approximately $3,384,893.25. The trade was a 11.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Piper Sandler Companies Stock Up 2.4%

Shares of PIPR traded up $7.69 during trading hours on Friday, reaching $323.23. The company’s stock had a trading volume of 145,677 shares, compared to its average volume of 146,489. The firm has a market cap of $5.72 billion, a price-to-earnings ratio of 27.28 and a beta of 1.50. Piper Sandler Companies has a 1-year low of $202.91 and a 1-year high of $374.77. The company has a 50 day moving average of $338.72 and a two-hundred day moving average of $308.75.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings results on Friday, October 31st. The financial services provider reported $3.82 earnings per share for the quarter, beating analysts’ consensus estimates of $2.96 by $0.86. Piper Sandler Companies had a net margin of 13.18% and a return on equity of 18.67%. The business had revenue of $455.31 million for the quarter, compared to the consensus estimate of $408.40 million. During the same quarter last year, the firm earned $2.57 EPS. Piper Sandler Companies’s revenue for the quarter was up 33.3% on a year-over-year basis. As a group, analysts forecast that Piper Sandler Companies will post 14.14 EPS for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Tuesday, November 25th will be paid a dividend of $0.70 per share. The ex-dividend date is Tuesday, November 25th. This represents a $2.80 dividend on an annualized basis and a yield of 0.9%. Piper Sandler Companies’s payout ratio is currently 21.10%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. IFP Advisors Inc raised its position in shares of Piper Sandler Companies by 80.3% in the first quarter. IFP Advisors Inc now owns 247 shares of the financial services provider’s stock valued at $63,000 after buying an additional 110 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Piper Sandler Companies during the 1st quarter worth $1,011,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Piper Sandler Companies in the 1st quarter valued at approximately $3,445,000. Cetera Investment Advisers increased its holdings in Piper Sandler Companies by 65.1% in the first quarter. Cetera Investment Advisers now owns 3,480 shares of the financial services provider’s stock valued at $862,000 after purchasing an additional 1,372 shares during the period. Finally, HB Wealth Management LLC acquired a new position in shares of Piper Sandler Companies in the first quarter worth approximately $207,000. 72.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PIPR shares. Zacks Research upgraded Piper Sandler Companies from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Piper Sandler Companies in a research report on Wednesday, October 8th. The Goldman Sachs Group upgraded shares of Piper Sandler Companies from a “neutral” rating to a “buy” rating and upped their target price for the company from $368.00 to $386.00 in a research report on Monday, November 10th. Finally, Wall Street Zen raised Piper Sandler Companies from a “hold” rating to a “buy” rating in a research note on Sunday, October 12th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Piper Sandler Companies currently has an average rating of “Moderate Buy” and a consensus target price of $362.50.

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.