Piper Sandler Companies (NYSE:PIPR) Reaches New 1-Year High – Should You Buy?

Shares of Piper Sandler Companies (NYSE:PIPR) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $340.06 and last traded at $333.00, with a volume of 264 shares. The stock had previously closed at $334.44.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PIPR. StockNews.com lowered shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Monday, October 28th. JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a research note on Tuesday, September 17th.

Piper Sandler Companies Stock Performance

The company has a market capitalization of $5.89 billion, a P/E ratio of 35.58 and a beta of 1.39. The company’s 50 day simple moving average is $296.65.

Piper Sandler Companies (NYSE:PIPR) last issued its earnings results on Friday, October 25th. The financial services provider reported $2.57 earnings per share (EPS) for the quarter, topping 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. Research analysts predict that Piper Sandler Companies will post 11.49 earnings per share for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 22nd will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.78%. The ex-dividend date is Friday, November 22nd. Piper Sandler Companies’s dividend payout ratio (DPR) is 27.78%.

Insider Buying and Selling

In other Piper Sandler Companies news, Director Philip Soran sold 1,792 shares of Piper Sandler Companies 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 3.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. SageView Advisory Group LLC acquired a new stake in shares of Piper Sandler Companies during the first quarter worth $10,970,000. Mesirow Institutional Investment Management Inc. acquired a new stake in shares of Piper Sandler Companies in the 2nd quarter valued at about $10,139,000. Millennium Management LLC lifted its holdings in shares of Piper Sandler Companies by 66.0% in the second quarter. Millennium Management LLC now owns 77,804 shares of the financial services provider’s stock valued at $17,908,000 after purchasing an additional 30,942 shares in the last quarter. Nicholas Investment Partners LP acquired a new position in shares of Piper Sandler Companies during the second quarter worth about $5,950,000. Finally, Sei Investments Co. grew its holdings in shares of Piper Sandler Companies by 101.2% during the second quarter. Sei Investments Co. now owns 44,675 shares of the financial services provider’s stock worth $10,282,000 after buying an additional 22,471 shares in the last quarter. 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.