Piper Sandler Companies (NYSE:PIPR) Sets New 1-Year High - Should You Buy?

Shares of Piper Sandler Companies (NYSE:PIPR - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $306.10 and last traded at $300.96, with a volume of 1883 shares trading hands. The stock had previously closed at $303.20.

Wall Street Analyst Weigh In

Separately, JMP Securities reaffirmed a "market perform" rating on shares of Piper Sandler Companies in a research note on Tuesday, September 17th.

Piper Sandler Companies Stock Performance

The firm's fifty day simple moving average is $288.11 and its 200 day simple moving average is $271.56. The stock has a market capitalization of $5.28 billion, a price-to-earnings ratio of 50.76 and a beta of 1.39.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last issued its quarterly earnings data on Friday, August 2nd. The financial services provider reported $2.52 EPS for the quarter, topping analysts' consensus estimates of $2.26 by $0.26. The business had revenue of $357.00 million for the quarter, compared to analyst estimates of $338.90 million. Piper Sandler Companies had a net margin of 9.23% and a return on equity of 15.36%. The firm's quarterly revenue was up 23.7% on a year-over-year basis. During the same period last year, the business posted $1.13 earnings per share. Analysts forecast that Piper Sandler Companies will post 11.53 earnings per share for the current year.

Piper Sandler Companies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 29th were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.87%. This is a positive change from Piper Sandler Companies's previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Thursday, August 29th. Piper Sandler Companies's payout ratio is 44.22%.

Insider Buying and Selling

In other news, insider Jonathan J. Doyle sold 12,695 shares of Piper Sandler Companies stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $236.63, for a total value of $3,004,017.85. Following the sale, the insider now directly owns 160,095 shares in the company, valued at $37,883,279.85. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Jonathan J. Doyle sold 12,695 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $236.63, for a total transaction of $3,004,017.85. Following the completion of the transaction, the insider now directly owns 160,095 shares in the company, valued at $37,883,279.85. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Philip Soran sold 1,792 shares of Piper Sandler Companies stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $263.92, for a total value of $472,944.64. Following the completion of the sale, the director now directly owns 18,341 shares in the company, valued at approximately $4,840,556.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,276 shares of company stock worth $3,936,252. 3.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Piper Sandler Companies

A number of institutional investors have recently added to or reduced their stakes in PIPR. Blue Trust Inc. grew its position in shares of Piper Sandler Companies by 194.7% in the 2nd quarter. Blue Trust Inc. now owns 112 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 74 shares during the period. nVerses Capital LLC grew its holdings in Piper Sandler Companies by 100.0% during the second quarter. nVerses Capital LLC now owns 200 shares of the financial services provider's stock worth $46,000 after purchasing an additional 100 shares during the period. USA Financial Formulas bought a new position in Piper Sandler Companies during the third quarter worth about $77,000. CWM LLC increased its position in Piper Sandler Companies by 22.5% during the third quarter. CWM LLC now owns 310 shares of the financial services provider's stock worth $88,000 after buying an additional 57 shares during the last quarter. Finally, Mather Group LLC. bought a new stake in Piper Sandler Companies in the first quarter valued at approximately $64,000. 72.79% of the stock is currently owned by institutional investors and hedge funds.

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.