Piper Sandler Companies (NYSE:PIPR) Stock Price Up 1.5% - Still a Buy?

Piper Sandler Companies (NYSE:PIPR - Get Free Report)'s stock price rose 1.5% during mid-day trading on Tuesday . The company traded as high as $303.10 and last traded at $299.09. Approximately 117,450 shares traded hands during trading, an increase of 27% from the average daily volume of 92,225 shares. The stock had previously closed at $294.59.

Analyst Ratings Changes

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 Price Performance

The stock has a 50 day moving average price of $282.04 and a 200-day moving average price of $267.47. The stock has a market capitalization of $5.29 billion, a P/E ratio of 50.87 and a beta of 1.39.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last posted its earnings results on Friday, August 2nd. The financial services provider reported $2.52 earnings per share for the quarter, topping analysts' consensus estimates of $2.26 by $0.26. The company had revenue of $357.00 million during 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%. Piper Sandler Companies's revenue for the quarter was up 23.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.13 earnings per share. Research analysts predict that Piper Sandler Companies will post 11.53 earnings per share for the current fiscal year.

Piper Sandler Companies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 29th were paid a $0.65 dividend. The ex-dividend date was Thursday, August 29th. This is a boost from Piper Sandler Companies's previous quarterly dividend of $0.60. This represents a $2.60 annualized dividend and a dividend yield of 0.87%. Piper Sandler Companies's dividend payout ratio (DPR) is presently 44.22%.

Insider Buying and Selling

In related news, Director Philip Soran sold 1,792 shares of the firm's stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $263.92, for a total value of $472,944.64. Following the sale, the director now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Piper Sandler Companies news, General Counsel John W. Geelan sold 1,789 shares of Piper Sandler Companies stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $256.73, for a total transaction of $459,289.97. Following the sale, the general counsel now directly owns 15,065 shares of the company's stock, valued at approximately $3,867,637.45. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Philip Soran sold 1,792 shares of Piper Sandler Companies stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $263.92, for a total value of $472,944.64. Following the sale, the director now directly owns 18,341 shares in the company, valued at approximately $4,840,556.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,276 shares of company stock valued at $3,936,252 over the last ninety days. 3.00% of the stock is owned by insiders.

Institutional Trading of Piper Sandler Companies

Several large investors have recently bought and sold shares of PIPR. Blue Trust Inc. boosted 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 worth $26,000 after purchasing an additional 74 shares in the last quarter. nVerses Capital LLC boosted its position in shares of Piper Sandler Companies by 100.0% in the 2nd quarter. nVerses Capital LLC now owns 200 shares of the financial services provider's stock worth $46,000 after purchasing an additional 100 shares in the last quarter. USA Financial Formulas bought a new stake in shares of Piper Sandler Companies in the 3rd quarter worth approximately $77,000. CWM LLC boosted its position in shares of Piper Sandler Companies by 22.5% in the 3rd quarter. CWM LLC now owns 310 shares of the financial services provider's stock worth $88,000 after purchasing an additional 57 shares in the last quarter. Finally, Mather Group LLC. bought a new stake in shares of Piper Sandler Companies in the 1st quarter worth approximately $64,000. 72.79% of the stock is owned by institutional investors.

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.

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