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

Shares of Piper Sandler Companies (NYSE:PIPR - Get Free Report) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $288.71 and last traded at $280.10, with a volume of 2710 shares changing hands. The stock had previously closed at $283.66.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PIPR. StockNews.com downgraded shares of Piper Sandler Companies from a "buy" rating to a "hold" rating in a research report on Monday, October 28th. JMP Securities reaffirmed a "market perform" rating on shares of Piper Sandler Companies in a research note on Tuesday, September 17th.

Piper Sandler Companies Trading Down 0.1 %

The business's 50-day moving average is $289.91 and its two-hundred day moving average is $275.13. The stock has a market capitalization of $5.01 billion, a PE ratio of 30.27 and a beta of 1.39.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last issued its quarterly earnings data on Friday, October 25th. The financial services provider reported $2.57 EPS for the quarter, topping analysts' consensus estimates of $2.53 by $0.04. The firm had revenue of $359.57 million for the quarter, compared to analyst estimates of $365.07 million. Piper Sandler Companies had a net margin of 10.84% and a return on equity of 16.18%. On average, analysts predict that Piper Sandler Companies will post 11.49 EPS for the current year.

Piper Sandler Companies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 22nd will be paid a $0.65 dividend. The ex-dividend date is Friday, November 22nd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.92%. Piper Sandler Companies's dividend payout ratio (DPR) is presently 27.78%.

Insider Activity

In other Piper Sandler Companies news, General Counsel John W. Geelan sold 1,789 shares of the company's stock in a transaction dated Friday, August 9th. The shares were 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 approximately $3,867,637.45. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, General Counsel John W. Geelan sold 1,789 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were 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 directly owns 15,065 shares in the company, valued at $3,867,637.45. 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 link. Also, Director Philip Soran sold 1,792 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $263.92, for a total transaction of $472,944.64. Following the completion of the transaction, the director now owns 18,341 shares of the company's stock, valued at $4,840,556.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.00% of the company's stock.

Institutional Trading of Piper Sandler Companies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Piper Sandler Companies by 1.1% in the first 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 lifted its holdings in shares of 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 worth $56,677,000 after acquiring an additional 19,662 shares during the period. Bank of New York Mellon Corp lifted its holdings in Piper Sandler Companies by 5.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 170,145 shares of the financial services provider's stock valued at $39,162,000 after purchasing an additional 9,380 shares during the last quarter. Millennium Management LLC lifted its holdings in Piper Sandler Companies by 66.0% during the 2nd quarter. Millennium Management LLC now owns 77,804 shares of the financial services provider's stock valued at $17,908,000 after purchasing an additional 30,942 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Piper Sandler Companies by 16.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 59,458 shares of the financial services provider's stock valued at $11,802,000 after purchasing an additional 8,510 shares during the last quarter. 72.79% of the stock is owned by institutional investors and hedge funds.

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.