JMP Securities Reaffirms Market Perform Rating for Piper Sandler Companies (NYSE:PIPR)

JMP Securities reiterated their market perform rating on shares of Piper Sandler Companies (NYSE:PIPR) in a research report report published on Tuesday, Benzinga reports.

PIPR has been the subject of a number of other reports. Northland Securities downgraded Piper Sandler Companies from an outperform rating to a market perform rating in a research report on Tuesday, December 19th. StockNews.com raised Piper Sandler Companies from a hold rating to a buy rating in a research report on Wednesday, February 28th. Finally, The Goldman Sachs Group raised their target price on Piper Sandler Companies from $171.00 to $193.00 and gave the stock a buy rating in a research report on Tuesday, December 19th.

Piper Sandler Companies Stock Performance

Shares of NYSE:PIPR opened at $193.05 on Tuesday. The business’s 50 day simple moving average is $195.09 and its two-hundred day simple moving average is $184.54. The firm has a market cap of $3.41 billion, a P/E ratio of 39.08 and a beta of 1.42. Piper Sandler Companies has a 52-week low of $120.97 and a 52-week high of $202.76.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings results on Friday, February 2nd. The financial services provider reported $4.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.61 by $1.42. The business had revenue of $457.39 million for the quarter, compared to analyst estimates of $370.12 million. Piper Sandler Companies had a return on equity of 13.27% and a net margin of 6.33%. The company’s quarterly revenue was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.33 earnings per share. On average, equities analysts forecast that Piper Sandler Companies will post 11.17 earnings per share for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, March 4th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date was Friday, March 1st. Piper Sandler Companies’s payout ratio is currently 48.58%.

Insider Transactions at Piper Sandler Companies

In related news, President Debbra L. Schoneman sold 4,795 shares of Piper Sandler Companies stock in a transaction on Monday, March 4th. The stock was sold at an average price of $190.72, for a total transaction of $914,502.40. Following the completion of the sale, the president now owns 12,140 shares of the company’s stock, valued at $2,315,340.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, President Debbra L. Schoneman sold 205 shares of Piper Sandler Companies stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $190.05, for a total transaction of $38,960.25. Following the completion of the sale, the president now owns 16,935 shares of the company’s stock, valued at $3,218,496.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President Debbra L. Schoneman sold 4,795 shares of Piper Sandler Companies stock in a transaction on Monday, March 4th. The shares were sold at an average price of $190.72, for a total value of $914,502.40. Following the sale, the president now directly owns 12,140 shares of the company’s stock, valued at approximately $2,315,340.80. The disclosure for this sale can be found here. Insiders sold 53,524 shares of company stock valued at $9,838,711 over the last three months. Company insiders own 3.30% of the company’s stock.

Institutional Investors Weigh In On Piper Sandler Companies

Hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its stake in Piper Sandler Companies by 7.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 180,658 shares of the financial services provider’s stock worth $26,251,000 after purchasing an additional 11,847 shares during the last quarter. Indiana Trust & Investment Management CO purchased a new position in shares of Piper Sandler Companies in the third quarter worth about $26,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Piper Sandler Companies by 1.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 60,712 shares of the financial services provider’s stock worth $8,822,000 after buying an additional 615 shares during the period. Vanguard Group Inc. increased its holdings in shares of Piper Sandler Companies by 0.5% in the third quarter. Vanguard Group Inc. now owns 1,935,235 shares of the financial services provider’s stock worth $281,209,000 after buying an additional 9,030 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in shares of Piper Sandler Companies by 0.9% in the third quarter. Victory Capital Management Inc. now owns 7,775 shares of the financial services provider’s stock worth $1,130,000 after buying an additional 70 shares during the period. Institutional investors own 72.79% of the company’s stock.

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.