Piper Sandler Companies (NYSE:PIPR) Stock Price Up 2.6% – Should You Buy?

Piper Sandler Companies (NYSE:PIPR) traded up 2.6% during trading on Tuesday . The stock traded as high as $292.02 and last traded at $290.63. 100,702 shares changed hands during mid-day trading, a decline of 4% from the average session volume of 104,636 shares. The stock had previously closed at $283.29.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. StockNews.com downgraded Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Monday, October 28th. JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a research note on Tuesday, September 17th.

Piper Sandler Companies Trading Up 2.6 %

The company has a market cap of $5.14 billion, a price-to-earnings ratio of 31.05 and a beta of 1.39. The company has a fifty day moving average price of $290.24 and a two-hundred day moving average price of $275.34.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings results on Friday, October 25th. The financial services provider reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $359.57 million for the quarter, compared to analysts’ expectations of $365.07 million. Sell-side analysts anticipate that Piper Sandler Companies will post 11.49 EPS for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 22nd will be issued a $0.65 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.89%. Piper Sandler Companies’s dividend payout ratio is 27.78%.

Insiders Place Their Bets

In related news, General Counsel John W. Geelan sold 1,789 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $256.73, for a total value of $459,289.97. Following the transaction, the general counsel now owns 15,065 shares in the company, valued at $3,867,637.45. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Philip Soran sold 1,792 shares of the business’s 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 completion of the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel John W. Geelan sold 1,789 shares of the stock in a transaction that occurred on 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 $3,867,637.45. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Piper Sandler Companies

Hedge funds have recently modified their holdings of the business. Blue Trust Inc. increased its stake in Piper Sandler Companies by 194.7% during 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 stake 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 worth $46,000 after purchasing an additional 100 shares during the period. USA Financial Formulas bought a new position in Piper Sandler Companies during the 3rd quarter worth about $77,000. FSC Wealth Advisors LLC lifted its holdings in shares of Piper Sandler Companies by 39.0% in the second quarter. FSC Wealth Advisors LLC now owns 346 shares of the financial services provider’s stock valued at $80,000 after purchasing an additional 97 shares in the last quarter. Finally, CWM LLC boosted its position in shares of Piper Sandler Companies by 22.5% during the third quarter. CWM LLC now owns 310 shares of the financial services provider’s stock worth $88,000 after buying an additional 57 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.