Piper Sandler Companies (NYSE:PIPR) Plans $0.60 Quarterly Dividend

Piper Sandler Companies (NYSE:PIPRGet Free Report) declared a quarterly dividend on Friday, February 2nd, Wall Street Journal reports. Investors of record on Monday, March 4th will be given a dividend of 0.60 per share by the financial services provider on Friday, March 15th. This represents a $2.40 annualized dividend and a dividend yield of 1.28%. The ex-dividend date is Friday, March 1st.

Piper Sandler Companies has increased its dividend by an average of 24.3% per year over the last three years. Piper Sandler Companies has a dividend payout ratio of 15.3% meaning its dividend is sufficiently covered by earnings.

Piper Sandler Companies Price Performance

Shares of PIPR stock opened at $187.72 on Thursday. The stock has a market capitalization of $3.32 billion, a PE ratio of 38.00 and a beta of 1.41. Piper Sandler Companies has a 1-year low of $120.97 and a 1-year high of $193.14. The business has a 50-day moving average of $183.93 and a 200 day moving average of $172.58.

Piper Sandler Companies (NYSE:PIPRGet Free Report) last posted its quarterly earnings results on Friday, February 2nd. The financial services provider reported $4.03 EPS for the quarter, beating analysts’ consensus estimates of $2.61 by $1.42. The company had revenue of $457.39 million during the quarter, compared to analyst estimates of $370.12 million. Piper Sandler Companies had a net margin of 6.33% and a return on equity of 13.27%. The firm’s revenue was up 17.0% compared to the same quarter last year. During the same period in the prior year, the business posted $3.33 EPS. Analysts anticipate that Piper Sandler Companies will post 11.17 EPS for the current year.

Insider Buying and Selling at Piper Sandler Companies

In related news, President Debbra L. Schoneman sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $160.56, for a total value of $802,800.00. Following the sale, the president now owns 19,971 shares in the company, valued at approximately $3,206,543.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Jonathan J. Doyle sold 19,987 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $183.90, for a total value of $3,675,609.30. Following the transaction, the insider now directly owns 176,227 shares of the company’s stock, valued at approximately $32,408,145.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Debbra L. Schoneman sold 5,000 shares of Piper Sandler Companies stock in a transaction on Monday, December 4th. The stock was sold at an average price of $160.56, for a total value of $802,800.00. Following the completion of the sale, the president now directly owns 19,971 shares of the company’s stock, valued at approximately $3,206,543.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,678 shares of company stock valued at $9,893,850. Corporate insiders own 3.32% of the company’s stock.

Hedge Funds Weigh In On Piper Sandler Companies

A number of hedge funds have recently bought and sold shares of PIPR. Steward Partners Investment Advisory LLC grew its stake in shares of Piper Sandler Companies by 328.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 227 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 174 shares during the period. Belpointe Asset Management LLC grew its position in Piper Sandler Companies by 67.0% in the 1st quarter. Belpointe Asset Management LLC now owns 344 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 138 shares during the period. Stephens Inc. AR raised its stake in Piper Sandler Companies by 706.0% during the 2nd quarter. Stephens Inc. AR now owns 403 shares of the financial services provider’s stock valued at $52,000 after buying an additional 353 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Piper Sandler Companies by 275.4% during the 1st quarter. Tower Research Capital LLC TRC now owns 518 shares of the financial services provider’s stock valued at $72,000 after buying an additional 380 shares during the period. Finally, Metropolitan Life Insurance Co NY boosted its stake in shares of Piper Sandler Companies by 8.2% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 1,093 shares of the financial services provider’s stock worth $142,000 after buying an additional 83 shares during the last quarter. Hedge funds and other institutional investors own 67.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on PIPR shares. StockNews.com raised Piper Sandler Companies from a “hold” rating to a “buy” rating in a research report on Wednesday. Northland Securities lowered shares of Piper Sandler Companies from an “outperform” rating to a “market perform” rating in a report on Tuesday, December 19th. JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a research note on Wednesday, January 10th. Finally, The Goldman Sachs Group increased their price target on shares of Piper Sandler Companies from $171.00 to $193.00 and gave the stock a “buy” rating in a research note on Tuesday, December 19th.

Check Out Our Latest Report on PIPR

Piper Sandler Companies Company Profile

(Get Free Report)

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 and institutional sales, trading, and research services for various equity and fixed income products.

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Dividend History for Piper Sandler Companies (NYSE:PIPR)

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