John W. Geelan Sells 1,570 Shares of Piper Sandler Companies (NYSE:PIPR) Stock

Piper Sandler Companies (NYSE:PIPR) General Counsel John W. Geelan sold 1,570 shares of Piper Sandler Companies stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $211.14, for a total value of $331,489.80. Following the transaction, the general counsel now owns 16,854 shares of the company’s stock, valued at approximately $3,558,553.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Piper Sandler Companies Trading Down 0.1 %

Shares of PIPR opened at $212.27 on Thursday. The firm’s 50 day moving average is $196.52 and its 200-day moving average is $191.83. Piper Sandler Companies has a 12 month low of $121.57 and a 12 month high of $214.94. The stock has a market capitalization of $3.76 billion, a PE ratio of 36.10 and a beta of 1.40.

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

Piper Sandler Companies Announces Dividend

The business also recently disclosed 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 is Thursday, May 23rd. Piper Sandler Companies’s payout ratio is 40.82%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on PIPR shares. JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a research note on Tuesday, April 9th. StockNews.com upgraded shares of Piper Sandler Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, February 28th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. State Board of Administration of Florida Retirement System raised its position in Piper Sandler Companies by 6.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 5,294 shares of the financial services provider’s stock valued at $1,051,000 after purchasing an additional 338 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of Piper Sandler Companies by 16.7% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 55,346 shares of the financial services provider’s stock valued at $10,985,000 after acquiring an additional 7,916 shares during the last quarter. ProShare Advisors LLC lifted its holdings in shares of Piper Sandler Companies by 7.6% during the first quarter. ProShare Advisors LLC now owns 3,451 shares of the financial services provider’s stock worth $685,000 after purchasing an additional 245 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Piper Sandler Companies by 1,473.3% in the first quarter. Russell Investments Group Ltd. now owns 1,416 shares of the financial services provider’s stock worth $281,000 after purchasing an additional 1,326 shares during the last quarter. Finally, Sei Investments Co. raised its position in Piper Sandler Companies by 68.1% during the 1st quarter. Sei Investments Co. now owns 22,204 shares of the financial services provider’s stock worth $4,408,000 after purchasing an additional 8,994 shares during the last quarter. 72.79% of the stock is currently owned by institutional investors.

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.