LPL Financial Holdings Inc.NASDAQ
LPL Financial: Misunderstood Best Of Breed In Growing Industry
Wed, Oct. 12, 5:57 PM
- Takeout speculation typically drives a stock higher, but LPL Financial (NASDAQ:LPLA) fell more than 5% in today's trade even after Reuters reported yesterday that the independent brokerage had hired Goldman Sachs to help it explore strategic options including a possible sale.
- Independent firms such as LPL, whose brokers are independent contractors, already operate under tight profit margins, and analysts and industry experts say new rules set to take effect next April that require brokers to put the interests of retirement savers ahead of their own likely will squeeze the firms even further.
- Several analysts today published notes warning that a deal for LPL comes with too much “baggage," including J.P. Morgan's Kenneth Worthington, who downgraded shares to Neutral from Overweight and cited several hurtles to a deal, among then “what could be material legal liability in front of the implementation of new DoL rules."
Tue, Oct. 11, 3:40 PM
- LPL Financial (LPLA +8.9%) resumes after a brief halt on volatility following a Reuters report that the company is exploring strategic alternatives, including selling itself.
- LPL is working with Goldman Sachs on a sale process that has attracted interest from other companies and P-E firms, according to the report.
Thu, Oct. 6, 5:02 PM
- Looking to comply Washington's so-called fiduciary rule, Merrill Lynch (NYSE:BAC) tells its more than 14K-strong thundering herd that after April 10, investors with retirement accounts will no longer have the option of paying commissions, but will instead have to pay a fee based on their assets.
- Merrill is the first brokerage to eliminate the commission-option for clients, but it may be paving the way for rivals like Morgan Stanley (NYSE:MS) and Wells Fargo (NYSE:WFC) to do the same.
- LPL Financial (NASDAQ:LPLA) has said it will still offer some sort of commission-based option to retirement savers.
- Source: Michael Wursthorn in the WSJ
Mon, Sep. 26, 1:03 PM
- The industry is facing three disruptive threats, says analyst Michael Cyprys: Competition for customer assets/activity, a growing regulatory burden, and technologies that can transform business models.
- Advice is the key, he says, and moving into this segment opens up a $22T wealth pool for the brokers.
- His favorite is Charles Schwab (NYSE:SCHW), as it has the most diversified revenue streams and most EPS upside from current rates. He starts the stock at Overweight with a $37 price target.
- His least favorite is LPL Financial (NASDAQ:LPLA), thanks to a lack of clarity on regulatory issues and the business model.
- E*Trade (NASDAQ:ETFC) and Ameritrade (NASDAQ:AMTD) are Equal Weight.
Thu, Aug. 25, 3:02 PM
- LPL Financial (LPLA +0.3%) in December will launch its no Transaction Fee Mutual Fund initiative, with the costs to be borne by the asset managers. To date, nine providers have signed up, including AllianceBernstein (AB +0.4%), BlackRock (BLK -0.3%), Invesco (IVZ -0.2%), and Legg Mason (LM -0.5%).
- While it's an incremental negative for the asset managers thanks to higher distribution costs eating into margins, says Katz, it could pay off in stronger inflows as investors will be paying less - thus making the mutual funds closer in cost to ETFs.
- It will be interesting to see how ETF sponsors - notably WisdomTree (NASDAQ:WETF) - react as their margins potentially get squeezed, says Katz.
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
- ACTG, AFL, AIV, AJG, ALDW, ALGN, ALJ, AMZN, ARII, ATEN, ATR, AUY, BCOV, BGS, BIDU, BOOM, BRKS, CAA, CATM, CBL, CBS, CENX, CHMT, CLD, CLMS, COLM, COWN, CPHD, CPT, CUBE, CWST, CY, DECK, DGI, DGII, DLR, DTLK, ECOL, EEP, EGO, EHTH, EIX, ELLI, EMN, EQC, ES, ESS, EXPE, EYES, FE, FET, FICO, FII, FIX, FLS, FPO, FR, FTNT, GIMO, GNMK, GOOG, HIG, HLS, IM, INVA, INVN, ISIL, ITGR, IXYS, KAMN, KBR, KLAC, KRG, LEG, LMNX, LPLA, LYV, MATW, MOBL, MSCC, MSTR, MTD, N, NGVC, NR, NSR, OMCL, OUTR, PCCC, PDFS, PFG, PXLW, QGEN, QSII, RGA, RMD, ROVI, RSG, RTEC, SB, SBAC, SKYW, SNMX, SPNC, SRCL, STMP, STRZA, SYNA, TCO, TFSL, THG, TLGT, TNDM, UCTT, ULH, VCRA, VDSI, VRSN, WDC, WLK, WRI, WYNN, YRCW
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
- LPL Financial Holdings (NASDAQ:LPLA): Q1 EPS of $0.56 beats by $0.12.
- Revenue of $1.00B (-9.9% Y/Y) misses by $30M.
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?