Shares of Piper Sandler Companies (NYSE:PIPR – Get Free Report) were down 1% on Tuesday after an insider sold shares in the company. The company traded as low as $159.05 and last traded at $160.29. Approximately 72,346 shares changed hands during trading, a decline of 5% from the average daily volume of 76,497 shares. The stock had previously closed at $161.88.Specifically, President Debbra L. Schoneman sold 5,000 shares of Piper Sandler Companies stock in a transaction dated 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 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 can be accessed through this link. Insiders own 3.30% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. StockNews.com assumed coverage on shares of Piper Sandler Companies in a research report on Thursday, October 5th. They set a “hold” rating on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $170.00 price target on shares of Piper Sandler Companies in a research report on Monday, October 30th.

Get Our Latest Stock Report on PIPR

Piper Sandler Companies Stock Performance

The firm has a market cap of $2.84 billion, a price-to-earnings ratio of 38.24 and a beta of 1.35. The company has a quick ratio of 0.63, a current ratio of 1.33 and a debt-to-equity ratio of 0.10. The company has a 50 day moving average of $150.15 and a 200 day moving average of $145.23.

Piper Sandler Companies (NYSE:PIPR – Get Free Report) last issued its quarterly earnings results on Friday, October 27th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.06. Piper Sandler Companies had a net margin of 5.64% and a return on equity of 12.38%. The business had revenue of $289.49 million during the quarter, compared to analyst estimates of $295.40 million. As a group, equities research analysts expect that Piper Sandler Companies will post 7.81 EPS for the current fiscal year.

Piper Sandler Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Tuesday, November 21st will be issued a $0.60 dividend. The ex-dividend date is Monday, November 20th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.50%. Piper Sandler Companies’s dividend payout ratio (DPR) is 57.28%.

Hedge Funds Weigh In On Piper Sandler Companies

A number of hedge funds have recently added to or reduced their stakes in PIPR. Indiana Trust & Investment Management CO acquired a new position in Piper Sandler Companies in the third quarter valued at approximately $26,000. DHJJ Financial Advisors Ltd. acquired a new position in Piper Sandler Companies during the 3rd quarter valued at approximately $29,000. WealthPLAN Partners LLC bought a new position in Piper Sandler Companies during the 1st quarter worth $29,000. Steward Partners Investment Advisory LLC increased its position in 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 buying an additional 174 shares during the period. Finally, Belpointe Asset Management LLC lifted its stake in Piper Sandler Companies by 67.0% in the first quarter. Belpointe Asset Management LLC now owns 344 shares of the financial services provider’s stock valued at $48,000 after buying an additional 138 shares during the last quarter. Institutional investors and hedge funds own 67.23% of the company’s stock.

About Piper Sandler Companies (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.

Further Reading

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected].

Before you consider Piper Sandler Companies, you’ll want to hear this.

MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Piper Sandler Companies wasn’t on the list.

While Piper Sandler Companies currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Which stocks are major institutional investors including hedge funds and endowments buying in today’s market? Click the link below and we’ll send you MarketBeat’s list of thirteen stocks that institutional investors are buying up as quickly as they can.

Get This Free Report

Original: MarketBeat News Feed: Piper Sandler Companies (NYSE:PIPR) Stock Price Down 1% on Insider Selling