Key Points
- CFO Katherine Patricia Clune sold 1,367 shares at an average price of $324.69 for a total of $443,851.23, reducing her stake by 11.59% to 10,425 shares valued at about $3.38 million.
- Piper Sandler beat quarterly expectations, reporting $3.82 EPS vs. $2.96 estimated and $455.31M in revenue vs. $408.40M, and has received several analyst upgrades with a consensus rating of "Moderate Buy" and a $362.50 price target.
- The company declared a quarterly dividend of $0.70 per share (annualized $2.80) payable December 12, with an ex-dividend/record date of November 25, implying a yield of about 0.9%.
Piper Sandler Companies (NYSE:PIPR - Get Free Report) CFO Katherine Patricia Clune sold 1,367 shares of the company's stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $324.69, for a total transaction of $443,851.23. Following the completion of the sale, the chief financial officer directly owned 10,425 shares of the company's stock, valued at $3,384,893.25. The trade was a 11.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.
Piper Sandler Companies Price Performance
Shares of NYSE PIPR traded up $7.69 during midday trading on Friday, reaching $323.23. 145,677 shares of the stock were exchanged, compared to its average volume of 146,489. Piper Sandler Companies has a 12 month low of $202.91 and a 12 month high of $374.77. The company has a market capitalization of $5.72 billion, a price-to-earnings ratio of 27.28 and a beta of 1.50. The business has a 50-day simple moving average of $338.26 and a two-hundred day simple moving average of $309.28.
Piper Sandler Companies (NYSE:PIPR - Get Free Report) last released its quarterly earnings data on Friday, October 31st. The financial services provider reported $3.82 EPS for the quarter, beating analysts' consensus estimates of $2.96 by $0.86. The business had revenue of $455.31 million during the quarter, compared to analysts' expectations of $408.40 million. Piper Sandler Companies had a net margin of 13.18% and a return on equity of 18.67%. The firm's quarterly revenue was up 33.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.57 EPS. Equities research analysts expect that Piper Sandler Companies will post 14.14 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 12th. Stockholders of record on Tuesday, November 25th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Tuesday, November 25th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.9%. Piper Sandler Companies's dividend payout ratio (DPR) is currently 21.10%.
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on PIPR shares. Wall Street Zen upgraded Piper Sandler Companies from a "hold" rating to a "buy" rating in a report on Sunday, October 12th. Weiss Ratings restated a "hold (c)" rating on shares of Piper Sandler Companies in a report on Wednesday, October 8th. Zacks Research raised shares of Piper Sandler Companies from a "hold" rating to a "strong-buy" rating in a research note on Monday, November 3rd. Finally, The Goldman Sachs Group raised shares of Piper Sandler Companies from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $368.00 to $386.00 in a research report on Monday, November 10th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Piper Sandler Companies has an average rating of "Moderate Buy" and a consensus price target of $362.50.
Get Our Latest Stock Analysis on PIPR
Institutional Investors Weigh In On Piper Sandler Companies
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. First Citizens Bank & Trust Co. boosted its stake in shares of Piper Sandler Companies by 195.3% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 2,658 shares of the financial services provider's stock worth $739,000 after acquiring an additional 1,758 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in Piper Sandler Companies by 1.4% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 11,902 shares of the financial services provider's stock valued at $3,492,000 after purchasing an additional 160 shares during the last quarter. Strs Ohio acquired a new stake in Piper Sandler Companies during the 1st quarter valued at $1,238,000. Park Avenue Securities LLC bought a new position in Piper Sandler Companies during the second quarter worth $1,140,000. Finally, Fluent Financial LLC acquired a new position in shares of Piper Sandler Companies in the second quarter valued at $1,755,000. Institutional investors and hedge funds own 72.79% of the company's stock.
Piper Sandler Companies Company Profile
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Get Free Report)
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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