Key Points
- Piper Sandler President Debbra Schoneman sold 5,240 shares at an average price of $350.99 for about $1.84M, reducing her position by 64.41% to 2,896 shares (SEC filing).
- Strong quarterly beat: the company reported $6.88 EPS vs $4.72 expected and $635M in revenue vs $516.5M expected, with revenue up 27.4% year-over-year and a 14.77% net margin.
- Corporate action: Piper Sandler will implement a 4-for-1 stock split effective March 24, with new shares distributed after the close on March 23.
Piper Sandler Companies (NYSE:PIPR - Get Free Report) President Debbra Schoneman sold 5,240 shares of the company's stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $350.99, for a total transaction of $1,839,187.60. Following the sale, the president directly owned 2,896 shares of the company's stock, valued at $1,016,467.04. The trade was a 64.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Piper Sandler Companies Trading Up 0.6%
PIPR opened at $323.34 on Friday. The company's 50 day moving average is $352.39 and its 200 day moving average is $340.09. The company has a market cap of $5.72 billion, a price-to-earnings ratio of 20.45, a PEG ratio of 1.77 and a beta of 1.53. Piper Sandler Companies has a 12-month low of $202.91 and a 12-month high of $380.26.
Piper Sandler Companies shares are set to split before the market opens on Tuesday, March 24th. The 4-1 split was announced on Friday, February 6th. The newly created shares will be distributed to shareholders after the closing bell on Monday, March 23rd.
Piper Sandler Companies (NYSE:PIPR - Get Free Report) last issued its quarterly earnings results on Friday, February 6th. The company reported $6.88 earnings per share for the quarter, topping the consensus estimate of $4.72 by $2.16. Piper Sandler Companies had a net margin of 14.77% and a return on equity of 22.50%. The business had revenue of $635.00 million for the quarter, compared to analysts' expectations of $516.52 million. During the same quarter last year, the company posted $4.80 EPS. The company's revenue was up 27.4% compared to the same quarter last year.
Piper Sandler Companies Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Tuesday, March 3rd will be given a $0.70 dividend. The ex-dividend date is Tuesday, March 3rd. This represents a $2.80 dividend on an annualized basis and a yield of 0.9%. Piper Sandler Companies's dividend payout ratio is presently 17.71%.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on PIPR. Zacks Research raised shares of Piper Sandler Companies from a "hold" rating to a "strong-buy" rating in a report on Tuesday. Wall Street Zen upgraded shares of Piper Sandler Companies from a "hold" rating to a "buy" rating in a research report on Sunday, February 8th. Wolfe Research restated an "outperform" rating and set a $398.00 target price on shares of Piper Sandler Companies in a research note on Wednesday, January 7th. The Goldman Sachs Group raised Piper Sandler Companies from a "neutral" rating to a "buy" rating and raised their price target for the company from $368.00 to $386.00 in a report on Monday, November 10th. Finally, Bank of America initiated coverage on Piper Sandler Companies in a research note on Monday, January 26th. They issued an "underperform" rating and a $385.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $389.67.
Check Out Our Latest Report on PIPR
Institutional Trading of Piper Sandler Companies
Hedge funds and other institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its stake in shares of Piper Sandler Companies by 89.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 74 shares of the company's stock worth $25,000 after purchasing an additional 35 shares during the period. Los Angeles Capital Management LLC acquired a new position in Piper Sandler Companies in the fourth quarter valued at $28,000. UMB Bank n.a. lifted its position in Piper Sandler Companies by 55.2% during the fourth quarter. UMB Bank n.a. now owns 90 shares of the company's stock worth $31,000 after buying an additional 32 shares during the period. Whittier Trust Co. acquired a new stake in Piper Sandler Companies in the 3rd quarter worth about $31,000. Finally, Danske Bank A S acquired a new stake in Piper Sandler Companies in the 3rd quarter worth about $35,000. 72.79% of the stock is owned by hedge funds and other institutional investors.
Piper Sandler Companies Company Profile
(
Get Free Report)
Piper Sandler Companies (NYSE: PIPR) is an investment bank and institutional securities firm that provides a range of capital markets and advisory services to corporations, institutions, municipalities and high-net-worth individuals. The firm’s core activities include investment banking and M&A advisory, underwriting and distribution of equity and debt securities, public finance, and sector-focused advisory across industries such as healthcare, energy, financial services and technology.
In addition to traditional investment banking, Piper Sandler offers equity and fixed income research, institutional sales and trading, and market-making services.
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