Piper Sandler Companies (NYSE:PIPR) Shares Gap Down – Here’s Why

Piper Sandler Companies (NYSE:PIPR) gapped down prior to trading on Friday . The stock had previously closed at $289.48, but opened at $280.79. Piper Sandler Companies shares last traded at $294.09, with a volume of 34,402 shares.

Analyst Upgrades and Downgrades

Separately, JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a research report on Tuesday, September 17th.

Piper Sandler Companies Trading Down 2.2 %

The company’s fifty day simple moving average is $289.73 and its 200 day simple moving average is $272.90. The firm has a market capitalization of $5.01 billion, a P/E ratio of 48.16 and a beta of 1.39.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings data on Friday, August 2nd. The financial services provider reported $2.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.26. Piper Sandler Companies had a return on equity of 15.36% and a net margin of 9.23%. The business had revenue of $357.00 million during the quarter, compared to the consensus estimate of $338.90 million. During the same quarter in the prior year, the company earned $1.13 earnings per share. The firm’s quarterly revenue was up 23.7% compared to the same quarter last year. On average, analysts predict that Piper Sandler Companies will post 11.53 earnings per share for the current fiscal year.

Piper Sandler Companies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 29th were issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.92%. This is a positive change from Piper Sandler Companies’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Thursday, August 29th. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 44.22%.

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 on Wednesday, August 21st. The stock was sold at an average price of $263.92, for a total transaction of $472,944.64. Following the completion of the transaction, the director now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, General Counsel John W. Geelan sold 1,789 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $256.73, for a total transaction of $459,289.97. Following the sale, the general counsel now owns 15,065 shares in the company, valued at $3,867,637.45. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Philip Soran sold 1,792 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $263.92, for a total transaction of $472,944.64. Following the completion of the transaction, the director now owns 18,341 shares of the company’s stock, valued at approximately $4,840,556.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,276 shares of company stock worth $3,936,252 in the last 90 days. Insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Moody Aldrich Partners LLC boosted its position in shares of Piper Sandler Companies by 14.8% during the third quarter. Moody Aldrich Partners LLC now owns 24,202 shares of the financial services provider’s stock valued at $6,869,000 after buying an additional 3,124 shares during the last quarter. Raymond James & Associates boosted its holdings in shares of Piper Sandler Companies by 5.3% during the 3rd quarter. Raymond James & Associates now owns 29,325 shares of the financial services provider’s stock valued at $8,323,000 after acquiring an additional 1,484 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Piper Sandler Companies by 486.6% in the third quarter. Blue Trust Inc. now owns 657 shares of the financial services provider’s stock worth $186,000 after acquiring an additional 545 shares during the period. ZWJ Investment Counsel Inc. purchased a new position in shares of Piper Sandler Companies during the third quarter valued at approximately $222,000. Finally, Creative Planning lifted its position in Piper Sandler Companies by 34.8% during the third quarter. Creative Planning now owns 9,287 shares of the financial services provider’s stock valued at $2,636,000 after purchasing an additional 2,399 shares during the period. Hedge funds and other 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.