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LPLA

LPL Financial

$83.85

2.06 (2.52%)

17:03
05/21/19
05/21
17:03
05/21/19
17:03

LPL Financial to acquire Allen & Company

LPL Financial announced LPL has entered into a definitive purchase agreement to acquire Allen & Company of Florida, a broker/dealer and registered investment adviser based in Lakeland, Florida. Allen & Company employs approximately 30 advisors and serves approximately $3B of client assets. The purchase agreement was signed on May 17 and the transaction is anticipated to close by the end of the year, subject to receipt of regulatory approval and other customary closing conditions. Under the transaction structure, LPL will onboard Allen & Company advisors and staff as employees and maintain Allen & Company's operations and brand. Allen & Company client assets will onboard with LPL's custodial platform. The purchase agreement provides for an initial purchase price and a potential contingent payment based on the portion of Allen & Company's client assets that are onboarded to LPL's platform above a specified threshold. The company estimates a transaction multiple of seven times post-synergy EBITDA.

  • 22

    May

  • 11

    Jun

LPLA LPL Financial
$83.85

2.06 (2.52%)

05/08/19
COMP
05/08/19
DOWNGRADE
COMP
Neutral
LPL Financial downgraded to Neutral from Buy at Compass Point
04/02/19
GSCO
04/02/19
DOWNGRADE
Target $81
GSCO
Buy
LPL Financial downgraded to Buy from Conviction Buy at Goldman Sachs
Goldman Sachs analyst Alexander Blostein removed LPL Financial from the firm's America's Conviction List, stating that he sees fewer opportunities for outsized EPS surprises, but keeps a Buy rating on the shares, citing what he views as its improving organic growth, relatively defensive business mix and attractive valuation. Heading into Q1 EPS reporting season, Blostein sees a more challenging EPS outlook for Trust Banks and Retail Brokers and remains bullish on the Alternative Asset Managers, he tells investors in an Americas Capital Markets sector preview. The analyst has an $81 price target on LPL Financial shares.
03/11/19
COMP
03/11/19
INITIATION
Target $82
COMP
Buy
LPL Financial initiated with a Buy at Compass Point
Compass Point initiated LPL Financial with a Buy and $82 price target.
03/06/19
SBSH
03/06/19
NO CHANGE
Target $100
SBSH
Buy
LPL Financial removed from U.S. Focus List at Citi
Citi analyst William Katz removed LPL Financial from his firm's U.S. Focus List citing the stock's strong year-to-date performance and a "potentially choppier macro backdrop." The analyst, however, keeps a Buy rating on the shares with a $100 price target. A combination of improving flow trajectory and favorable execution can drive moderate multiple expansion from here, Katz tells investors in a research note.

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AKRX

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SBH

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SBH

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PCRX

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PLYA

Playa Hotels & Resorts

$7.40

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ALDX

Aldeyra

$7.08

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BPMX

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AKRX

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KRYS

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ETFC

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ALDX

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KHC

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TSLA

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GRUB

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ERI

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  • 25

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BPOP

Popular

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  • 06

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MYGN

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