Piper Sandler Companies (NYSE:PIPR) President Sells $1,839,187.60 in Stock

Piper Sandler Companies (NYSE:PIPR) President Debbra Schoneman sold 5,240 shares of the stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $350.99, for a total value of $1,839,187.60. Following the sale, the president owned 2,896 shares in the company, valued at approximately $1,016,467.04. This represents a 64.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Piper Sandler Companies Stock Performance

Shares of PIPR opened at $323.34 on Monday. The stock has a market capitalization of $5.72 billion, a price-to-earnings ratio of 20.45, a price-to-earnings-growth ratio of 1.78 and a beta of 1.53. Piper Sandler Companies has a 52-week low of $202.91 and a 52-week high of $380.26. The stock’s 50-day simple moving average is $352.39 and its 200 day simple moving average is $340.47.

Shares of Piper Sandler Companies are scheduled to split before the market opens on Tuesday, March 24th. The 4-1 split was announced on Friday, February 6th. The newly minted shares will be issued to shareholders after the closing bell on Monday, March 23rd.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings results on Friday, February 6th. The company reported $6.88 EPS for the quarter, beating the consensus estimate of $4.72 by $2.16. The firm had revenue of $635.00 million during the quarter, compared to the consensus estimate of $516.52 million. Piper Sandler Companies had a net margin of 14.77% and a return on equity of 22.50%. The business’s quarterly revenue was up 27.4% compared to the same quarter last year. During the same period last year, the firm earned $4.80 EPS.

Piper Sandler Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Tuesday, March 3rd will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, March 3rd. Piper Sandler Companies’s dividend payout ratio (DPR) is currently 17.71%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PIPR. EverSource Wealth Advisors LLC grew its position in shares of Piper Sandler Companies by 89.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 74 shares of the company’s stock worth $25,000 after buying an additional 35 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in Piper Sandler Companies in the fourth quarter worth $28,000. UMB Bank n.a. boosted its holdings in Piper Sandler Companies by 55.2% in the fourth quarter. UMB Bank n.a. now owns 90 shares of the company’s stock valued at $31,000 after acquiring an additional 32 shares in the last quarter. Whittier Trust Co. purchased a new position in Piper Sandler Companies during the 3rd quarter valued at $31,000. Finally, Danske Bank A S bought a new position in Piper Sandler Companies in the 3rd quarter worth $35,000. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Zacks Research upgraded Piper Sandler Companies from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 10th. The Goldman Sachs Group upgraded shares of Piper Sandler Companies from a “neutral” rating to a “buy” rating and increased their price target for the company from $368.00 to $386.00 in a research report on Monday, November 10th. Bank of America began coverage on shares of Piper Sandler Companies in a report on Monday, January 26th. They issued an “underperform” rating and a $385.00 price objective for the company. Wall Street Zen downgraded Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Monday. Finally, Wolfe Research restated an “outperform” rating and set a $398.00 target price on shares of Piper Sandler Companies in a report on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Piper Sandler Companies currently has a consensus rating of “Moderate Buy” and a consensus price target of $389.67.

About Piper Sandler Companies

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.