LPL Financial: Misunderstood Best Of Breed In Growing Industry
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)
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?
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
Fri, Feb. 5, 9:44 AM
Sep. 23, 2015, 10:15 AM
- LPL Financial (LPLA +1.9%) adds to yesterday's gains following the disclosure that activist investor Marcato Capital Management took a 6.3% stake in the independent brokerage, saying the shares are undervalued.
- Marcato said in the SEC filing that it may seek talks regarding LPL’s business and strategies, including reviewing various options such as improving its capital structure, mergers and acquisitions and general corporate strategies.
- Marcato's ~6M shares makes it one of LPL's largest shareholders.
Jun. 2, 2015, 3:05 PM
- "[Matthew Audette] has seen the best of times and the worst of times as CFO," says LPL Financial (LPLA +3.6%) CEO Mark Casady of his new hire. As CFO of E*Trade, Audette helped preside over the turnaround from the financial crisis as well as navigate through numerous regulatory issues.
- “If there was a time to go to another company, now would be the time,” says Audette.
- LPL has had ongoing regulatory issues of its own, and the stock is lower by about 20% since March of 2014.
- Previously: LPL Financial poaches CFO from E*Trade (June 1)
Apr. 15, 2015, 9:51 AM
- RCS Capital (RCAP -6.7%) and LPL Financial (LPLA -3.5%) are having a rough morning after the DOL proposed rules forcing brokers to act as fiduciaries when providing advice on retirement funds in things like 401(k)s and IRAs.
- Regulators believe investors will save $40B over ten years as a number of conflicts of interest are eliminated.
- Calling the proposal a "manageable outcome" compared to some possible scenarios, Citigroup calls the news "exceptionally bullish" for RCAP, and favorable for LPLA and Ameriprise (AMP +0.4%).
Oct. 23, 2014, 10:42 AM
- LPL Financial (LPLA +0.3%) tumbled yesterday after warning it expects to incur $23M of charges related to regulatory matters in Q3, $18M more than anticipated. The impact on EPS will be $0.11.
- Overall net income should be $32M-$34M, and adjusted EBITDA of $108M-$110M, or $0.47-$0.49 per share.
- The company notes core G&A expense has been significantly reduced and is performing inline with expectations.
- KBW pulls the plug on its Outperfrom rating, downgrading to Market Perform.
Oct. 22, 2014, 9:19 AM| Oct. 22, 2014, 9:19 AM | 1 Comment
Jul. 31, 2014, 7:54 AM
- Citi cashes in its chips on its Buy call on LPL Financial (NASDAQ:LPLA) 24 hours after Q2 results, with the team citing regulatory risk as an overhang on the stock price.
- Shares -1.1% premarket
- Previously: LPL Financial Holdings misses by $0.01, misses on revenue
Apr. 15, 2014, 9:44 AM
- Charles Schwab (SCHW +2.8%) opens higher after reporting a 58% rise in Q1 profit, ahead of analyst expectations, due to a rise in trading commissions and fees for managing client assets.
- CEO Walt Bettinger says SCHW executed an average of 553,600 trades per day during the quarter, up 11% Y/Y and the highest volume in its history; total client assets of $2.31T also is an all-time high.
- Added $34.2B of net new assets during the quarter, a 6% annualized organic growth rate; new brokerage accounts increased by 258K, up 6% Y/Y.
- Q1 asset management and administration fees rose 11% to $611M, while trading revenue also increased 11% to $247M.
- Other discount brokers also are higher: AMTD +1.1%, ETFC +1.9%, LPLA +1.4%, IBKR +1%.
LPL Financial Holdings, Inc. operates as an investment holding company with interests in 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... More
Industry: Investment Brokerage - National
Country: United States
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