Key Developments: LPL Financial Holdings Inc (LPLA.O)
38.90USD
17 May 2013
$0.84 (+2.21%)
$38.06
$38.21
$39.03
$38.19
321,888
389,987
$39.03
$23.17
Latest Key Developments (Source: Significant Developments)
LPL Financial Holdings Inc Approves Quarterly Dividend
LPL Financial Holdings Inc announced that the Board of Directors declared a cash dividend of $0.135 per share of the Company's common stock, to be paid on May 20, 2013 to all shareholders of record on May 6, 2013. Full Article
The Securities Arbitration Law Firm of Klayman & Toskes Continues To Investigate Claims Regarding LPL Financial Holdings Inc’s Sale Of REITs
The Securities Arbitration Law Firm of Klayman & Toskes (K&T) announced that it is continuing to investigate claims regarding LPL Financial Holdings Inc's sale of real estate investment trusts (REITs). The new case focuses on REIT sales to unsophisticated investors. According to Montana, LPL is on its radar screen more than any other firm. Between LPL and Ameriprise Financial, the two firms are sellers of non-traded REITs, representing about 20% of the $10 billion in annual sales of these products. In December 2012, the State of Massachusetts charged LPL with dishonest and unethical business practices regarding its sales of REITs. Massachusetts found that REIT sales at LPL contained violations, including sales made in violation of the State`s 10% concentration limits, sales made in violation of prospectus requirements, and sales made in violation of LPL compliance practices. Massachusetts also found that LPL representatives received limited training on REITs. Full Article
LPL Financial Holdings Inc Declares Cash Dividend
LPL Financial Holdings Inc announced that the Company's Board of Directors has declared a cash dividend of $0.135 per share of the Company's common stock, payable on March 4, 2013 to all shareholders of record on February 18, 2013. Full Article
LPL Financial Holdings Inc Declares Dividend; Approves Share Repurchase Program
LPL Financial Holdings Inc announced that the Board of Director has approved a $0.12 per share quarterly dividend, to be paid on November 30, 2012 to all stockholders of record on November 15, 2012. The Company also announced that Board of Director has approved an additional share repurchase program in which the Company may purchase up to $150.0 million of its outstanding common stock from time to time in open market or privately negotiated transactions. As a result, the Company was authorized to repurchase up to $155.3 million in additional shares as of October 26, 2012. Full Article
LPL Financial Holdings Inc Declares Special Cash Dividend And Initial Quarterly Cash Dividend
LPL Financial Holdings Inc announced that the Board of Directors declared a one-time special cash dividend of $2.00 per share, paid on May 25, 2012 to all common stockholders of record as of the close of business on May 15, 2012. In addition, the Board of Directors has declared an initial quarterly cash dividend of $0.12 per share on the Company's outstanding common stock to be paid on August 30, 2012 to all stockholders of record on August 15, 2012. Full Article
LPL Investment Holdings Inc Announces Pricing Of Secondary Offering By Principal Stockholders
LPL Investment Holdings Inc announced that it has priced its secondary offering of 14,500,000 shares of its common stock by investment funds associated with Hellman & Friedman LLC and TPG Capital, L.P. at a price to the public of $34.50 per share. The underwriters have a 30-day option to purchase up to an additional 1,450,000 shares from the Selling Stockholders. The Company itself is not selling any shares in this offering. The offering is expected to close on or about May 7, 2012. Morgan Stanley, BofA Merrill Lynch, Goldman, Sachs & Co. and J.P. Morgan are acting as joint book-running managers for the offering. Citigroup, SunTrust Robinson Humphrey, Wells Fargo Securities, Sanford C. Bernstein, William Blair, Blaylock Robert Van, LLC, Drexel Hamilton, Keefe, Bruyette & Woods, Macquarie Capital and Sandler O'Neill + Partners, L.P. are acting as co-managers. The Company has also filed with the Securities and Exchange Commission a preliminary prospectus with respect to this offering. Full Article
LPL Investment Holdings Inc Announces Secondary Offering By Principal Stockholders
LPL Investment Holdings Inc announced the commencement of a secondary offering of 14,500,000 shares of its common stock by investment funds associated with Hellman & Friedman LLC and TPG Capital, L.P (the Selling Stockholders). The underwriters have a 30-day option to purchase up to an additional 1,450,000 shares from the Selling Stockholders. The Company itself is not selling any shares in this offering. Morgan Stanley, BofA Merrill Lynch, Goldman, Sachs & Co. and J.P. Morgan Securities LLC are acting as joint book-running managers for the offering. Full Article
LPL Investment Holdings Inc Announces Dividend
LPL Investment Holdings Inc announced that the Board of Directors declared a one-time special cash dividend of $2.00 per share, payable on May 25, 2012 to all common stockholders of record as of the close of business on May 15, 2012. In addition, the Company plans to pay regular quarterly dividends, initially up to $0.12 ($0.48 annually), beginning in the second half of 2012. The declaration and amount of any regular cash dividends will remain subject in each instance to approval by the Board of Directors. Full Article
LPL Investment Holdings Inc's LPL Financial LLC Announces Closing Of Fortigent, LLC Acquisition
LPL Financial LLC (LPL Financial), a wholly-owned subsidiary of LPL Investment Holdings Inc. announced the closing of its parent company's previously announced acquisition of Fortigent, LLC (Fortigent), a provider of high-net-worth solutions and consulting services to RIAs, banks, and trust companies. As a new independent subsidiary of LPL Investment Holdings Inc. and sister company of LPL Financial, Fortigent will maintain its existing brand and team, and will maintain its focus on delivering fully integrated research, reporting and practice management solutions designed to meet the sophisticated needs of banks, trust companies and independent advisory firms. The combination with LPL Financial allows it to support an even broader range of financial advisor business models. Financial terms of the transaction were not disclosed. Full Article
LPL Investment Holding Inc Sees FY, Q1 2012 Charge Guidance
LPL Investment Holding Inc announced that it expects to incur restructuring charges of $31.6 million; $21.4 million has been incurred as of December 31, 2011; $10.2 million is expected to be incurred in fiscal 2012 and beyond, of which $6.3 million is expected to occur in the first quarter of 2012. Full Article
ON THE MOVE-LPL lands advisory team with $1.5 bln assets
May 2 - LPL Financial Holdings Inc said on Wednesday it added Florida-based Ingham Retirement Group to its broker-dealer platform, expanding its network of independent advisers in the region.
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