Piper Sandler Companies (NYSE:PIPR) Earns Market Perform Rating from JMP Securities

Piper Sandler Companies (NYSE:PIPR - Get Free Report)'s stock had its "market perform" rating reissued by equities researchers at JMP Securities in a research note issued to investors on Tuesday, Benzinga reports.

Piper Sandler Companies Stock Up 1.0 %

Shares of PIPR stock traded up $2.77 during trading hours on Tuesday, reaching $274.21. 60,200 shares of the company's stock were exchanged, compared to its average volume of 107,927. Piper Sandler Companies has a fifty-two week low of $130.89 and a fifty-two week high of $280.45. The stock has a market capitalization of $4.85 billion, a P/E ratio of 46.63 and a beta of 1.40. The business has a fifty day moving average price of $266.26 and a 200-day moving average price of $248.43.

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

Insider Activity

In other news, insider Jonathan J. Doyle sold 12,695 shares of the company's stock in a transaction that occurred 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 sale, the insider now directly owns 160,095 shares in the company, valued at approximately $37,883,279.85. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, General Counsel John W. Geelan sold 1,789 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $256.73, for a total transaction of $459,289.97. Following the completion of the sale, the general counsel now owns 15,065 shares in the company, valued at approximately $3,867,637.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jonathan J. Doyle sold 12,695 shares of Piper Sandler Companies 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 transaction, the insider now directly owns 160,095 shares of the company's stock, valued at $37,883,279.85. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,276 shares of company stock worth $3,936,252. Corporate insiders own 3.00% of the company's stock.

Institutional Trading of Piper Sandler Companies

Several hedge funds have recently modified their holdings of PIPR. Blue Trust Inc. raised its holdings in shares of Piper Sandler Companies by 194.7% in the second quarter. Blue Trust Inc. now owns 112 shares of the financial services provider's stock valued at $26,000 after buying an additional 74 shares during the last quarter. Parallel Advisors LLC lifted its holdings in Piper Sandler Companies by 62.1% during the 4th quarter. Parallel Advisors LLC now owns 167 shares of the financial services provider's stock worth $29,000 after buying an additional 64 shares in the last quarter. nVerses Capital LLC boosted its position in Piper Sandler Companies by 100.0% in the 2nd quarter. nVerses Capital LLC now owns 200 shares of the financial services provider's stock valued at $46,000 after buying an additional 100 shares during the last quarter. Mather Group LLC. bought a new position in Piper Sandler Companies in the 1st quarter valued at $64,000. Finally, Quadrant Capital Group LLC increased its stake in shares of Piper Sandler Companies by 21.1% in the 4th quarter. Quadrant Capital Group LLC now owns 460 shares of the financial services provider's stock valued at $80,000 after buying an additional 80 shares during the period. Institutional investors and hedge funds 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.