Insider Selling: Piper Sandler Companies (NYSE:PIPR) General Counsel Sells $331,489.80 in Stock

Piper Sandler Companies (NYSE:PIPR) General Counsel John W. Geelan sold 1,570 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $211.14, for a total transaction of $331,489.80. Following the completion of the sale, the general counsel now owns 16,854 shares in the company, valued at $3,558,553.56. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Piper Sandler Companies Stock Performance

NYSE:PIPR opened at $212.27 on Thursday. The company has a 50-day moving average of $196.52 and a 200-day moving average of $191.83. Piper Sandler Companies has a 52 week low of $121.57 and a 52 week high of $214.94. The company has a market capitalization of $3.76 billion, a price-to-earnings ratio of 36.10 and a beta of 1.40.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings results on Friday, April 26th. The financial services provider reported $2.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.90. The firm had revenue of $335.29 million during the quarter, compared to analyst estimates of $314.97 million. Piper Sandler Companies had a net margin of 7.33% and a return on equity of 13.83%. The company’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.35 earnings per share. Sell-side analysts forecast that Piper Sandler Companies will post 11.82 EPS for the current year.

Piper Sandler Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 24th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Thursday, May 23rd. Piper Sandler Companies’s dividend payout ratio is 40.82%.

Wall Street Analyst Weigh In

PIPR has been the topic of a number of recent research reports. JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a research report on Tuesday, April 9th. StockNews.com raised Piper Sandler Companies from a “hold” rating to a “buy” rating in a report on Wednesday, February 28th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC bought a new stake in shares of Piper Sandler Companies in the 4th quarter worth about $29,000. Parallel Advisors LLC boosted its position in Piper Sandler Companies by 62.1% in the fourth quarter. Parallel Advisors LLC now owns 167 shares of the financial services provider’s stock valued at $29,000 after buying an additional 64 shares in the last quarter. West Oak Capital LLC acquired a new stake in shares of Piper Sandler Companies during the fourth quarter worth approximately $33,000. Mather Group LLC. bought a new position in shares of Piper Sandler Companies in the first quarter valued at approximately $64,000. Finally, Quadrant Capital Group LLC raised its stake in shares of Piper Sandler Companies by 21.1% in the fourth quarter. Quadrant Capital Group LLC now owns 460 shares of the financial services provider’s stock valued at $80,000 after acquiring an additional 80 shares during the last quarter. 72.79% of the stock is currently owned by institutional investors and hedge funds.

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.