Cantillon Capital Management LLC Has $97.75 Million Stock Position in LPL Financial Holdings Inc. $LPLA

Cantillon Capital Management LLC lowered its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 12.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 324,927 shares of the financial services provider’s stock after selling 44,141 shares during the quarter. Cantillon Capital Management LLC’s holdings in LPL Financial were worth $97,748,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Osterweis Capital Management Inc. acquired a new position in shares of LPL Financial during the second quarter worth approximately $26,000. Clearstead Advisors LLC increased its holdings in shares of LPL Financial by 3,650.0% in the fourth quarter. Clearstead Advisors LLC now owns 75 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 73 shares in the last quarter. Steigerwald Gordon & Koch Inc. increased its holdings in shares of LPL Financial by 550.0% in the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 78 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 66 shares in the last quarter. Core Wealth Advisors LLC acquired a new stake in shares of LPL Financial in the fourth quarter valued at approximately $36,000. Finally, Physician Wealth Advisors Inc. raised its position in LPL Financial by 580.0% in the 1st quarter. Physician Wealth Advisors Inc. now owns 136 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 116 shares during the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

Insider Activity

In other news, Director Aneri Jambusaria sold 308 shares of the firm’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $306.00, for a total value of $94,248.00. Following the transaction, the director directly owned 6,415 shares in the company, valued at $1,962,990. This trade represents a 4.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is owned by corporate insiders.

LPL Financial Stock Performance

Shares of NASDAQ LPLA opened at $324.90 on Monday. The company’s 50 day simple moving average is $293.42 and its 200 day simple moving average is $317.96. LPL Financial Holdings Inc. has a fifty-two week low of $260.15 and a fifty-two week high of $403.58. The firm has a market capitalization of $25.99 billion, a P/E ratio of 29.01, a P/E/G ratio of 0.63 and a beta of 0.50. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.56 and a quick ratio of 2.56.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data on Thursday, April 30th. The financial services provider reported $5.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.49 by $0.11. LPL Financial had a net margin of 4.93% and a return on equity of 31.26%. The firm had revenue of $4.94 billion for the quarter, compared to analysts’ expectations of $4.98 billion. During the same period last year, the firm earned $5.15 earnings per share. The business’s revenue for the quarter was up 34.6% on a year-over-year basis. On average, analysts predict that LPL Financial Holdings Inc. will post 23.38 EPS for the current year.

LPL Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Thursday, May 21st. LPL Financial’s dividend payout ratio (DPR) is currently 10.71%.

Analysts Set New Price Targets

Several research analysts have issued reports on LPLA shares. Barclays reduced their price objective on LPL Financial from $412.00 to $394.00 and set an “overweight” rating on the stock in a report on Thursday, July 9th. William Blair restated an “outperform” rating on shares of LPL Financial in a research report on Thursday, June 4th. Keefe, Bruyette & Woods started coverage on LPL Financial in a research note on Wednesday, April 8th. They set an “outperform” rating and a $350.00 price target on the stock. Jefferies Financial Group cut their price target on LPL Financial from $464.00 to $383.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. Finally, JPMorgan Chase & Co. raised their price target on LPL Financial from $390.00 to $408.00 and gave the company an “overweight” rating in a report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, LPL Financial currently has a consensus rating of “Moderate Buy” and an average price target of $397.92.

LPL Financial Profile

LPL Financial (NASDAQ: LPLA) is a U.S.-focused financial services firm that provides brokerage, custodial and advisory platforms to independent financial advisors, registered investment advisers and institutions. Operating primarily as an independent broker-dealer and custodian, the company supports a network of advisors with the operational, compliance and clearing infrastructure needed to manage client accounts and deliver investment advice outside of traditional wirehouse models.

The firm’s product and service offerings include trade execution and clearing, custody services, retirement plan services, model portfolio and advisory platforms, wealth management technology, investment research and product access across equities, fixed income, mutual funds, exchange-traded funds and insurance and annuity solutions.