LPL Financial Holdings Inc. $LPLA Shares Purchased by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S raised its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 37.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,784 shares of the financial services provider’s stock after buying an additional 1,862 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in LPL Financial were worth $2,041,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of LPLA. Diversified Trust Co bought a new stake in shares of LPL Financial during the 1st quarter worth $2,737,000. Rockefeller Capital Management L.P. raised its position in shares of LPL Financial by 64.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 5,207 shares of the financial services provider’s stock worth $1,860,000 after purchasing an additional 2,042 shares during the period. Meadowbrook Advisors Group LLC acquired a new stake in shares of LPL Financial during the fourth quarter worth $203,000. Corient Private Wealth LLC lifted its holdings in shares of LPL Financial by 1.6% during the fourth quarter. Corient Private Wealth LLC now owns 32,951 shares of the financial services provider’s stock valued at $11,769,000 after purchasing an additional 528 shares during the last quarter. Finally, Reflection Asset Management purchased a new stake in shares of LPL Financial during the fourth quarter valued at $50,000. Institutional investors and hedge funds own 95.66% of the company’s stock.

LPL Financial Stock Down 0.8%

LPLA stock opened at $295.10 on Wednesday. The firm has a market cap of $23.60 billion, a PE ratio of 26.35, a PEG ratio of 0.61 and a beta of 0.50. LPL Financial Holdings Inc. has a 1 year low of $260.15 and a 1 year high of $403.58. The company has a fifty day simple moving average of $301.15 and a 200 day simple moving average of $326.76. The company has a current ratio of 2.56, a quick ratio of 2.56 and a debt-to-equity ratio of 1.26.

LPL Financial (NASDAQ:LPLA) last posted its earnings results on Thursday, April 30th. The financial services provider reported $5.60 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $4.98 billion. During the same period in the prior year, the business posted $5.15 earnings per share. The business’s quarterly revenue was up 34.6% on a year-over-year basis. Sell-side analysts anticipate that LPL Financial Holdings Inc. will post 22.98 EPS for the current fiscal 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 paid a dividend of $0.30 per share. 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 is 10.71%.

Insider Transactions at LPL Financial

In related news, CFO Matthew J. Audette sold 1,110 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $330.01, for a total value of $366,311.10. Following the completion of the sale, the chief financial officer directly owned 19,803 shares in the company, valued at approximately $6,535,188.03. The trade was a 5.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Aneri Jambusaria sold 308 shares of the company’s stock in a transaction that occurred 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 sale, the director directly owned 6,415 shares of the company’s stock, valued at $1,962,990. The trade was a 4.58% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 1,887 shares of company stock worth $613,144. 0.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on LPLA. Barclays lifted their target price on shares of LPL Financial from $369.00 to $412.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Keefe, Bruyette & Woods initiated coverage on shares of LPL Financial in a research report on Wednesday, April 8th. They issued an “outperform” rating and a $350.00 target price for the company. JPMorgan Chase & Co. decreased their target price on shares of LPL Financial from $396.00 to $390.00 and set an “overweight” rating for the company in a research note on Friday, May 1st. TD Cowen lowered their price target on shares of LPL Financial from $330.00 to $326.00 and set a “hold” rating on the stock in a report on Friday, May 1st. Finally, UBS Group upped their price target on shares of LPL Financial from $380.00 to $395.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, LPL Financial currently has an average rating of “Moderate Buy” and a consensus target price of $398.86.

LPL Financial Company 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.