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

Piper Sandler Companies (NYSE:PIPR - Get Free Report) hit a new 52-week high during trading on Monday . The stock traded as high as $340.06 and last traded at $333.00, with a volume of 264 shares trading hands. The stock had previously closed at $334.44.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. JMP Securities restated a "market perform" rating on shares of Piper Sandler Companies in a research report on Tuesday, September 17th. StockNews.com cut Piper Sandler Companies from a "buy" rating to a "hold" rating in a report on Monday, October 28th.

Piper Sandler Companies Stock Up 2.3 %

The firm's fifty day simple moving average is $298.86 and its 200-day simple moving average is $279.62. The company has a market cap of $6.05 billion, a PE ratio of 36.54 and a beta of 1.39.

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

Piper Sandler Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 22nd will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.76%. The ex-dividend date is Friday, November 22nd. Piper Sandler Companies's payout ratio is 27.78%.

Insiders Place Their Bets

In related news, Director Philip Soran sold 1,792 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $263.92, for a total transaction of $472,944.64. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Piper Sandler Companies

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of Montreal Can raised its holdings in shares of Piper Sandler Companies by 2.1% in the 2nd quarter. Bank of Montreal Can now owns 2,262 shares of the financial services provider's stock worth $524,000 after purchasing an additional 46 shares during the period. Xponance Inc. raised its holdings in Piper Sandler Companies by 4.6% in the second quarter. Xponance Inc. now owns 1,101 shares of the financial services provider's stock valued at $253,000 after buying an additional 48 shares during the period. Commonwealth Equity Services LLC lifted its position in Piper Sandler Companies by 2.4% during the second quarter. Commonwealth Equity Services LLC now owns 2,340 shares of the financial services provider's stock valued at $539,000 after buying an additional 54 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in Piper Sandler Companies by 1.1% during the third quarter. Harbor Capital Advisors Inc. now owns 5,010 shares of the financial services provider's stock worth $1,422,000 after buying an additional 56 shares during the period. Finally, CWM LLC increased its position in shares of Piper Sandler Companies by 22.5% in the third quarter. CWM LLC now owns 310 shares of the financial services provider's stock worth $88,000 after acquiring an additional 57 shares in the last quarter. Institutional investors and hedge funds own 72.79% of the company's stock.

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.