LPL Financial Holdings Inc. $LPLA Shares Bought by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP grew its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 3.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 816,367 shares of the financial services provider’s stock after buying an additional 28,025 shares during the period. Dimensional Fund Advisors LP owned 1.02% of LPL Financial worth $245,600,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Parallel Advisors LLC grew its position in LPL Financial by 7.2% in the first quarter. Parallel Advisors LLC now owns 2,711 shares of the financial services provider’s stock worth $816,000 after acquiring an additional 183 shares during the period. SEB Asset Management AB purchased a new stake in LPL Financial in the first quarter valued at $5,027,000. Jennison Associates LLC raised its position in LPL Financial by 21.1% in the first quarter. Jennison Associates LLC now owns 135,221 shares of the financial services provider’s stock valued at $40,678,000 after purchasing an additional 23,554 shares during the period. Assetmark Inc. lifted its stake in shares of LPL Financial by 32.8% in the 1st quarter. Assetmark Inc. now owns 3,453 shares of the financial services provider’s stock valued at $1,039,000 after purchasing an additional 852 shares during the last quarter. Finally, Financiere des Professionnels Fonds d investissement inc. acquired a new position in shares of LPL Financial in the 1st quarter valued at $3,745,000. Institutional investors and hedge funds own 95.66% of the company’s stock.

LPL Financial Stock Performance

NASDAQ:LPLA opened at $323.32 on Friday. LPL Financial Holdings Inc. has a 52 week low of $260.15 and a 52 week high of $403.58. The company has a fifty day simple moving average of $295.89 and a two-hundred day simple moving average of $317.06. The company has a quick ratio of 2.56, a current ratio of 2.56 and a debt-to-equity ratio of 1.26. The company has a market cap of $25.86 billion, a price-to-earnings ratio of 28.87, a price-to-earnings-growth ratio of 0.64 and a beta of 0.50.

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 the consensus estimate of $5.49 by $0.11. LPL Financial had a return on equity of 31.26% and a net margin of 4.93%.The business 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 company’s revenue for the quarter was up 34.6% compared to the same quarter last year. As a group, equities analysts anticipate that LPL Financial Holdings Inc. will post 23.38 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

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

Insider Activity

In other news, Director Aneri Jambusaria sold 308 shares of the business’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $306.00, for a total transaction of $94,248.00. Following the completion of the transaction, the director directly owned 6,415 shares of the company’s stock, valued at approximately $1,962,990. The trade was a 4.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on LPLA shares. Morgan Stanley increased their price target on LPL Financial from $374.00 to $387.00 and gave the stock an “overweight” rating in a report on Friday, July 10th. Barclays reduced their price objective on shares of LPL Financial from $412.00 to $394.00 and set an “overweight” rating on the stock in a report on Thursday, July 9th. JPMorgan Chase & Co. increased their target price on shares of LPL Financial from $390.00 to $408.00 and gave the stock an “overweight” rating in a research note on Monday, July 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of LPL Financial in a research report on Monday, April 27th. Finally, William Blair reissued an “outperform” rating on shares of LPL Financial in a research note on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $397.92.

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.