LPL Financial: Misunderstood Best Of Breed In Growing Industry
Mon, Aug. 22, 2:44 PM
- Evercore ISI upgrades Brixmor Property Group (BRX +1.7%) to Buy with PT of $33.00.
- Deutsche Bank upgrades Bancolombia SA (CIB -0.9%) to Buy.
- Citigroup upgrades Grupo Financiero Galicia SA (NASDAQ:GGAL) to Neutral.
- JMP Securities upgrades Select Income REIT (SIR +1.7%) to Outperform.
- Boston Properties (NYSE:BXP) downgraded to hold and set PT of $147.00 - $149.00.
- JMP Securities downgrades Four Corners Property Trust (FCPT -1.3%) to Market Perform.
- Credit Suisse Group AG downgrades LPL Financial Holdings (NASDAQ:LPLA) to Neutral and set PT of $28.00
- JMP Securities downgrades Wheeler Real Estate Investment Trust (WHLR +1.8%) to Market Perform.
Fri, Aug. 19, 9:27 AM
Thu, Jul. 28, 4:10 PM
Wed, Jul. 27, 5:35 PM
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Fri, Jun. 17, 9:51 AM
Fri, Jun. 3, 1:00 PM
Fri, May 20, 5:39 PM
Wed, May 11, 12:19 PM
- There's chatter of Marcato Capital Management having taken a stake in Realogy (RLGY +1.4%), while lightening up on positions in LPL Financial (LPLA +1.4%) and Avis Budget (CAR +1.4%) to help fund the new holding.
- Previously: Activist investor Marcato Capital discloses 6.3% stake in LPL Financial (Sept. 23, 2015)
- Previously: Avis Budget on the move after Marcato Capital boosts stake (Aug. 17, 2015)
Thu, Apr. 28, 4:13 PM
Wed, Apr. 27, 5:35 PM
- ABAX, ACHC, AEM, AIV, AJG, ALDR, ALGN, AMCC, AMGN, AMZN, ARII, ATEN, ATHN, ATR, ATRC, AZPN, BCOV, BGS, BIDU, BMRN, BOOM, BRKS, BVN, CATM, CENX, CHDN, CHE, CHMT, CLD, CLW, COHR, COLM, COWN, CPHD, CPT, CUBE, DDR, DGII, DLR, ECOL, EHTH, ELLI, EMN, EPAY, EPR, ESS, EXLS, EXPE, EYES, FET, FII, FLEX, FLS, FPO, GB, GILD, GIMO, GNW, GRPN, HELE, HIG, HT, HTH, HURN, HWAY, INVA, IPHI, ISBC, JNPR, KBR, KRG, LEG, LNKD, LOGM, LPLA, MATW, MMSI, MOBL, MOH, MSA, MSCC, N, NATI, NFG, NPTN, NR, NSIT, NSR, NUS, OFIX, OMCL, OUTR, P, PCCC, PDFS, PFG, PODD, PXLW, QLIK, RGA, RGC, ROVI, RRC, RSG, SCSS, SGEN, SHOR, SKYW, SMCI, SNMX, SPN, SPNC, SRCL, STRZA, SWKS, SYNA, TEP, TLGT, TMST, TNDM, TRMB, TXTR, VCRA, VDSI, VGR, VR, VRSN, WDC, YRCW
Wed, Apr. 6, 10:38 AM
- Released today, the new fiduciary rule regarding management of retirement accounts appears to be not as "broker-unfriendly" as feared. Among the roughed-up asset managers bouncing are LPL Financial (LPLA +6.9%), Waddell & Reed (WDR +6.3%), and Raymond James (RJF +3%).
- Now read: LPL Financial Poised For A Short Squeeze?
Wed, Apr. 6, 9:20 AM
- Josh Brown's in the business. His take? "Literally nothing changes. Biggest impact is added disclosures on websites. Seriously."
- He continues: "No added fee breakdowns, no restrictions on proprietary schlock products, no limit on selling with conflicts ... The Street wins (again)."
- The Department of Labor helpfully put out this cheat sheet on how its final rules changed from what was initially proposed.
- The billing for these new rules was that a fiduciary standard would be imposed which would ultimately force the asset management industry away from the business of collecting commissions for moving products, and into more responsible fee generation based on total assets managed.
- Interested parties include: LPLA, RJF, TROW, BLK, WETF, BEN, AMP, LNC, MET, PRU, LM, WDR
Tue, Apr. 5, 1:23 PM
- The Department of Labor this week is expected to release final regulations requiring brokers to act with a fiduciary standard - that is act solely in the best interest of their client. Previously, recommendations only had to be "suitable" for clients - a less rigorous standard allowing excessive fees, and investments with hidden commissions.
- Investors now paying trading commissions will likely be moved into accounts where brokers collect fees based on AUM. Popular, but costly products like variable annuities, commodity pools and non-tradable REITs might no longer find a home in retirement accounts. They'll be replaced with low-cost index funds.
- Whether it all works out for the little guy remains to be seen, but one thing is sure: Regulatory costs will be on the rise, something larger shops - think Merrill Lynch (NYSE:BAC) and Morgan Stanley (NYSE:MS) - are going to be able to absorb better than smaller players who are more reliant on commissions - think LPL Financial (NASDAQ:LPLA) and Raymond James (NYSE:RF).
- Big providers of index mutual funds and ETFs are winners as well - BlackRock (NYSE:BLK), T. Rowe Price (NASDAQ:TROW), and WisdomTree (NASDAQ:WETF) fit the bill. Active mutual fund houses like Franklin Resources (NYSE:BEN), Legg Mason (NYSE:LM), and Waddell & Reed (NYSE:WDR), not so much.
- Insurers who are big providers are variable annuities could also be pressured - Ameriprise (NYSE:AMP), Lincoln National (NYSE:LNC), MetLife (NYSE:MET), Prudential (NYSE:PRU).
- Now read: Congratulations To All The New Fiduciary FAs Out There: Financial Advisors' Daily Digest (April 4)
Tue, Apr. 5, 7:21 AM
- Citing relative valuation, slower revenue growth, lack of buyback capacity, and the DoL's new fiduciary rule, Goldman downgrades LPL Financial (NASDAQ:LPLA) to Sell from Neutral. The price target is cut $2 to $19 (last night's close was $24.99).
- The stock's lower by 4.25% premarket, but in very thin trading.
- Now read: Senate Report: Fiduciary Rule Puts Retirees, Advisors And Broker-Dealers All On The Same Chopping Block (Feb. 25)
Tue, Feb. 16, 10:39 AM
- LPL Financial (NASDAQ:LPLA) plunged late last week after weak Q4 results, and management's dour outlook thus far this year.
- CEO Mark Casady: "As we move into 2016, market volatility has only increased, and we expect continued pressure on brokerage sales."
- The stock's up 13.6% today though, after upgrades to Outperform at Credit Suisse and to Overweight at Morgan Stanley. The current price of $18.70 stands against about $25 prior to the Q4 announcement.
Fri, Feb. 12, 12:48 PM
LPL Financial Holdings, Inc. engages in the provision of technology, brokerage and investment advisory services. It provides an integrated platform of brokerage and investment advisory services to independent financial advisors and financial advisors at financial institutions. It operates it... More
Industry: Investment Brokerage - National
Country: United States