Piper Sandler Companies (NYSE:PIPR) Sets New 52-Week High - Here's What Happened

Piper Sandler Companies (NYSE:PIPR - Get Free Report) shares hit a new 52-week high during trading on Monday . The stock traded as high as $294.20 and last traded at $283.90, with a volume of 102 shares trading hands. The stock had previously closed at $280.53.

Analyst Upgrades and Downgrades

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

Piper Sandler Companies Stock Performance

The firm has a market capitalization of $5.12 billion, a PE ratio of 49.20 and a beta of 1.39. The business's fifty day simple moving average is $289.55 and its 200-day simple moving average is $273.85.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last announced its quarterly earnings results on Friday, August 2nd. The financial services provider reported $2.52 EPS for the quarter, beating analysts' consensus estimates of $2.26 by $0.26. Piper Sandler Companies had a return on equity of 16.18% and a net margin of 10.84%. The company had revenue of $357.00 million during the quarter, compared to analyst estimates of $338.90 million. During the same period in the prior year, the company earned $1.13 earnings per share. The firm's revenue was up 23.7% on a year-over-year basis. Sell-side analysts expect that Piper Sandler Companies will post 11.53 earnings per share for the current fiscal year.

Piper Sandler Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 22nd will be given a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 0.90%. The ex-dividend date is Friday, November 22nd. Piper Sandler Companies's dividend payout ratio is presently 44.22%.

Insider Buying and Selling at Piper Sandler Companies

In related news, insider Jonathan J. Doyle sold 12,695 shares of Piper Sandler Companies stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $236.63, for a total value of $3,004,017.85. Following the completion of the transaction, the insider now owns 160,095 shares in the company, valued at approximately $37,883,279.85. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Jonathan J. Doyle sold 12,695 shares of the firm's stock in a transaction on Monday, August 5th. The stock was sold at an average price of $236.63, for a total value of $3,004,017.85. Following the completion of 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel John W. Geelan sold 1,789 shares of the business's stock in a transaction on Friday, August 9th. The shares were sold at an average price of $256.73, for a total transaction of $459,289.97. Following the transaction, the general counsel now owns 15,065 shares in the company, valued at $3,867,637.45. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,276 shares of company stock worth $3,936,252 over the last 90 days. 3.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Piper Sandler Companies

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Piper Sandler Companies by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 1,971,201 shares of the financial services provider's stock worth $391,264,000 after acquiring an additional 20,891 shares in the last quarter. Lord Abbett & CO. LLC raised its position in Piper Sandler Companies by 7.4% during the 1st quarter. Lord Abbett & CO. LLC now owns 285,542 shares of the financial services provider's stock valued at $56,677,000 after purchasing an additional 19,662 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Piper Sandler Companies by 5.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 170,145 shares of the financial services provider's stock worth $39,162,000 after buying an additional 9,380 shares during the period. Millennium Management LLC increased its stake in shares of Piper Sandler Companies by 66.0% during the second quarter. Millennium Management LLC now owns 77,804 shares of the financial services provider's stock valued at $17,908,000 after buying an additional 30,942 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Piper Sandler Companies by 16.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 59,458 shares of the financial services provider's stock valued at $11,802,000 after acquiring an additional 8,510 shares in the last quarter. Institutional investors own 72.79% of the company's stock.

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.