Piper Sandler Companies (NYSE:PIPR – Get Rating) – Analysts at Northland Capmk decreased their Q3 2023 earnings per share (EPS) estimates for Piper Sandler Companies in a research note issued on Monday, June 12th. Northland Capmk analyst M. Grondahl now forecasts that the company will earn $1.98 per share for the quarter, down from their prior estimate of $2.16. The consensus estimate for Piper Sandler Companies’ current full-year earnings is $8.86 per share. Northland Capmk also issued estimates for Piper Sandler Companies’ Q4 2023 earnings at $2.61 EPS.
Piper Sandler Companies (NYSE:PIPR – Get Rating) last announced its quarterly earnings data on Tuesday, May 2nd. The company reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.96. The firm had revenue of $290.24 million for the quarter, compared to analyst estimates of $299.34 million. Piper Sandler Companies had a net margin of 7.25% and a return on equity of 15.38%. The business’s quarterly revenue was down 19.9% compared to the same quarter last year. During the same period in the previous year, the company earned $3.12 earnings per share.
Piper Sandler Companies Price Performance
Shares of PIPR opened at $137.46 on Tuesday. The firm has a market capitalization of $2.44 billion, a PE ratio of 23.42 and a beta of 1.37. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.41 and a quick ratio of 0.39. Piper Sandler Companies has a 1-year low of $102.60 and a 1-year high of $162.20. The company’s fifty day moving average price is $131.73 and its 200-day moving average price is $137.71.
Piper Sandler Companies Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, June 9th. Shareholders of record on Friday, May 26th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend was Thursday, May 25th. Piper Sandler Companies’s payout ratio is 40.89%.
Insider Buying and Selling at Piper Sandler Companies
In other news, CEO Chad R. Abraham sold 1,970 shares of the stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $130.05, for a total transaction of $256,198.50. Following the sale, the chief executive officer now directly owns 29,646 shares of the company’s stock, valued at approximately $3,855,462.30. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Chad R. Abraham sold 12,556 shares of the company’s stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $127.20, for a total transaction of $1,597,123.20. Following the completion of the transaction, the chief executive officer now owns 39,060 shares in the company, valued at approximately $4,968,432. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Chad R. Abraham sold 1,970 shares of the company’s stock in a transaction dated Friday, May 5th. The stock was sold at an average price of $130.05, for a total transaction of $256,198.50. Following the transaction, the chief executive officer now owns 29,646 shares of the company’s stock, valued at approximately $3,855,462.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,850 shares of company stock valued at $2,156,042. 3.30% of the stock is owned by insiders.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the stock. American Century Companies Inc. raised its position in shares of Piper Sandler Companies by 13.6% during the 4th quarter. American Century Companies Inc. now owns 124,568 shares of the company’s stock worth $16,218,000 after purchasing an additional 14,925 shares during the last quarter. Lord Abbett & CO. LLC raised its holdings in Piper Sandler Companies by 7.7% in the 4th quarter. Lord Abbett & CO. LLC now owns 195,761 shares of the company’s stock valued at $25,486,000 after acquiring an additional 13,952 shares during the last quarter. State Board of Administration of Florida Retirement System raised its holdings in Piper Sandler Companies by 32.3% in the 4th quarter. State Board of Administration of Florida Retirement System now owns 5,354 shares of the company’s stock valued at $697,000 after acquiring an additional 1,308 shares during the last quarter. MetLife Investment Management LLC raised its holdings in Piper Sandler Companies by 1.9% in the 3rd quarter. MetLife Investment Management LLC now owns 9,304 shares of the company’s stock valued at $975,000 after acquiring an additional 176 shares during the last quarter. Finally, Greenwich Wealth Management LLC raised its holdings in Piper Sandler Companies by 2.3% in the 4th quarter. Greenwich Wealth Management LLC now owns 20,590 shares of the company’s stock valued at $2,681,000 after acquiring an additional 458 shares during the last quarter. Institutional investors and hedge funds own 64.00% of the company’s stock.
Piper Sandler Companies Company Profile
Piper Sandler Cos. engages in the provision of investment banking and institutional securities services. It offers financial advisory services, equity and debt capital markets products, public finance services, equity research and institutional brokerage, fixed income services, and private equity strategies.
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