LPL Financial Holdings Inc. $LPLA Stake Boosted by Amundi

Amundi raised its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 15.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 114,003 shares of the financial services provider’s stock after buying an additional 14,975 shares during the quarter. Amundi’s holdings in LPL Financial were worth $42,919,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its holdings in LPL Financial by 5.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 354,001 shares of the financial services provider’s stock valued at $115,808,000 after acquiring an additional 18,252 shares during the period. Citigroup Inc. lifted its position in shares of LPL Financial by 61.2% during the 1st quarter. Citigroup Inc. now owns 46,653 shares of the financial services provider’s stock worth $15,262,000 after purchasing an additional 17,720 shares during the last quarter. National Bank of Canada FI boosted its stake in LPL Financial by 1,506.0% during the 1st quarter. National Bank of Canada FI now owns 23,479 shares of the financial services provider’s stock valued at $7,680,000 after purchasing an additional 22,017 shares during the period. JPMorgan Chase & Co. grew its holdings in LPL Financial by 8.8% in the 1st quarter. JPMorgan Chase & Co. now owns 1,304,780 shares of the financial services provider’s stock valued at $426,846,000 after buying an additional 105,665 shares during the last quarter. Finally, Invesco Ltd. raised its stake in LPL Financial by 0.5% during the 1st quarter. Invesco Ltd. now owns 101,253 shares of the financial services provider’s stock valued at $33,124,000 after purchasing an additional 526 shares during the last quarter. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at LPL Financial

In related news, Director Greg Gates sold 750 shares of LPL Financial stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $370.97, for a total value of $278,227.50. Following the transaction, the director directly owned 14,620 shares of the company’s stock, valued at $5,423,581.40. This trade represents a 4.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Richard Steinmeier sold 5,058 shares of the stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $370.99, for a total transaction of $1,876,467.42. Following the completion of the transaction, the chief executive officer directly owned 9,326 shares of the company’s stock, valued at $3,459,852.74. This trade represents a 35.16% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 8,138 shares of company stock valued at $2,983,353 in the last quarter. Company insiders own 0.70% of the company’s stock.

LPL Financial Stock Up 1.7%

NASDAQ:LPLA opened at $374.71 on Wednesday. The stock has a 50-day simple moving average of $348.97 and a 200 day simple moving average of $360.55. The company has a debt-to-equity ratio of 1.49, a quick ratio of 2.60 and a current ratio of 2.60. LPL Financial Holdings Inc. has a 52-week low of $262.83 and a 52-week high of $403.58. The company has a market cap of $29.99 billion, a PE ratio of 34.50, a PEG ratio of 0.81 and a beta of 0.60.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data on Thursday, October 30th. The financial services provider reported $5.20 EPS for the quarter, beating analysts’ consensus estimates of $4.49 by $0.71. LPL Financial had a net margin of 5.35% and a return on equity of 36.80%. The company had revenue of $4.55 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter last year, the firm posted $4.16 EPS. The company’s quarterly revenue was up 46.4% on a year-over-year basis. On average, sell-side analysts expect that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Thursday, November 13th were paid a $0.30 dividend. The ex-dividend date was Thursday, November 13th. This represents a $1.20 annualized dividend and a yield of 0.3%. LPL Financial’s payout ratio is 11.05%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on LPLA shares. Weiss Ratings restated a “hold (c)” rating on shares of LPL Financial in a report on Friday, October 31st. Barclays upped their price target on LPL Financial from $411.00 to $420.00 and gave the company an “overweight” rating in a report on Friday, October 31st. JMP Securities set a $475.00 price objective on LPL Financial in a report on Friday, October 31st. Citizens Jmp raised their price objective on shares of LPL Financial from $455.00 to $475.00 and gave the stock a “market outperform” rating in a report on Friday, October 31st. Finally, BMO Capital Markets began coverage on shares of LPL Financial in a research note on Friday, October 3rd. They issued an “outperform” rating and a $365.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $429.00.

About LPL Financial

LPL Financial Holdings Inc, together with its subsidiaries, provides an integrated platform of brokerage and investment advisory services to independent financial advisors and financial advisors at enterprises in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, fixed income, alternative investments, retirement and 529 education savings plans, and insurance.