Piper Sandler Companies Files 2023 Annual Report on Form 10-K

TL;DR

<b>Piper Sandler Companies has filed its 2023 annual report (10-K), detailing its financial performance and business operations for the year ending December 31, 2023.</b>

AI Summary

PIPER SANDLER COMPANIES (PIPR) filed a Annual Report (10-K) with the SEC on February 26, 2024. Piper Sandler Companies filed its 2023 Form 10-K on February 26, 2024, reporting for the fiscal year ending December 31, 2023. The company's principal business address is 800 Nicollet Mall, Suite 900, Minneapolis, MN 55402. Piper Sandler Companies was formerly known as Piper Jaffray Companies, with a name change effective June 11, 2003. The filing covers the fiscal year from January 1, 2023, to December 31, 2023. The SIC code for the company is 6211, categorized under Security Brokers, Dealers & Flotation Companies.

Why It Matters

For investors and stakeholders tracking PIPER SANDLER COMPANIES, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Piper Sandler's financial health, operational structure, and risk factors for investors and analysts to assess its current standing and future prospects. Understanding the details within this annual report is crucial for stakeholders to evaluate the company's strategic direction, market position, and compliance with regulatory requirements.

Risk Assessment

Risk Level: medium — PIPER SANDLER COMPANIES shows moderate risk based on this filing. The company operates in the financial services industry, which is subject to significant regulatory oversight and market volatility, as indicated by its SIC code and the nature of its business as a broker-dealer.

Analyst Insight

Review the detailed financial statements and risk factors in the 10-K to assess Piper Sandler's performance and potential risks in the current market environment.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period end date)
• 2024-02-26 — Filing Date (Date the 10-K was filed)
• 2003-06-11 — Date of Name Change (Date Piper Jaffray Companies became Piper Sandler Companies)

Key Players & Entities

• PIPER SANDLER COMPANIES (company) — Filer name
• PIPER JAFFRAY COMPANIES (company) — Former company name
• 800 NICOLLET MALL, SUITE 900 (company) — Business address street
• MINNEAPOLIS (company) — Business address city
• DE (company) — State of incorporation
• 6211 (company) — Standard Industrial Classification

FAQ

Industry Context

Piper Sandler Companies operates within the financial services sector, specifically as a broker-dealer, a highly regulated industry sensitive to economic conditions and market trends.

Regulatory Implications

As a publicly traded financial services firm, Piper Sandler Companies is subject to the regulations of the Securities and Exchange Commission (SEC) and other financial regulatory bodies.

What Investors Should Do

1. Analyze the company's financial statements for the fiscal year ended December 31, 2023.
2. Review the risk factors section to understand potential challenges and uncertainties.
3. Compare the company's performance and disclosures with previous filings and industry peers.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-02-26: Filing Date — Date the 10-K was officially submitted to the SEC.

Year-Over-Year Comparison

This filing is the annual report for the fiscal year ending December 31, 2023, providing updated financial and operational information compared to previous filings.

Key Financial Figures

• $0.01 — ich Registered Common Stock, par value $0.01 per share PIPR The New York Stock Excha
• $7.1 million — ployees. In 2023, we donated a total of $7.1 million through employee donations, our corpora
• $5,000 — matches each employee's donations up to $5,000. REGULATION As a participant in the

Filing Documents

• pipr-20231231.htm (10-K) — 3038KB
• pscq42023ex109.htm (EX-10.9) — 86KB
• pscq42023ex1011.htm (EX-10.11) — 14KB
• pscq42023ex1013.htm (EX-10.13) — 447KB
• pscq42023ex1015.htm (EX-10.15) — 48KB
• pscq42023ex1024.htm (EX-10.24) — 76KB
• pscq42023ex211.htm (EX-21.1) — 21KB
• pscq42023ex231.htm (EX-23.1) — 9KB
• pscq42023ex241.htm (EX-24.1) — 9KB
• pscq42023ex311.htm (EX-31.1) — 9KB
• pscq42023ex312.htm (EX-31.2) — 9KB
• pscq42023ex321.htm (EX-32.1) — 4KB
• pscq42023ex971.htm (EX-97.1) — 25KB
• pipr-20231231_g1.jpg (GRAPHIC) — 120KB
• 0001230245-24-000038.txt (&nbsp;) — 16700KB
• pipr-20231231.xsd (EX-101.SCH) — 96KB
• pipr-20231231_cal.xml (EX-101.CAL) — 122KB
• pipr-20231231_def.xml (EX-101.DEF) — 623KB
• pipr-20231231_lab.xml (EX-101.LAB) — 1222KB
• pipr-20231231_pre.xml (EX-101.PRE) — 915KB
• pipr-20231231_htm.xml (XML) — 2544KB

Business

Item 1. Business. OVERVIEW Piper Sandler Companies is an investment bank and institutional securities firm, serving the needs of corporations, private equity groups, public entities, non-profit entities and institutional investors in the United States ("U.S.") and internationally. Founded in 1895, Piper Sandler Companies provides a broad set of products and services, including financial advisory services; equity and debt capital markets products; public finance services; institutional brokerage services; fundamental equity and macro research services; fixed income services; and alternative asset management strategies. Our headquarters are located in Minneapolis, Minnesota and we have offices across the U.S. and international locations in London, Aberdeen and Hong Kong. OUR BUSINESS We operate in one reportable segment providing investment banking services, institutional sales and trading services for various equity and fixed income products, and research services. We are organized as one reportable segment in order to maximize the value we provide to clients by leveraging our diversified expertise and broad relationships of the experienced professionals across our company. Investment Banking For our corporate clients and financial sponsors, we provide advisory services, which includes mergers and acquisitions ("M&A"); equity and debt private placements; and debt and restructuring advisory. We also help raise capital through equity and debt financings. We operate in the following focus sectors: healthcare; financial services; energy and power; services and industrials; consumer; technology; and chemicals, primarily focusing on middle-market clients. For our government and non-profit clients, we underwrite municipal issuances, provide municipal financial advisory and loan placement services, and offer various over-the-counter derivative products. Our public finance investment banking capabilities focus on state and local governments, cultural and social servic

Risk Factors

Item 1A. Risk Factors. In the normal course

View Full Filing

View this 10-K filing on SEC EDGAR