American Century Companies Inc. Purchases 99,220 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Key Points

• American Century Companies Inc. has increased its stake in LPL Financial Holdings Inc. by 20.3%, acquiring an additional 99,220 shares, bringing its total ownership to approximately 588,800 shares valued at $192.62 million.
• LPL Financial reported a quarterly earnings per share (EPS) of $4.51, exceeding analysts' expectations, with a revenue increase of 30.8% year-over-year.
• The company recently announced a quarterly dividend of $0.30 per share, set to be paid on August 29th, representing an annual yield of 0.3%.

American Century Companies Inc. increased its position in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 20.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 588,800 shares of the financial services provider's stock after purchasing an additional 99,220 shares during the quarter. American Century Companies Inc. owned approximately 0.74% of LPL Financial worth $192,620,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LPLA. Mariner LLC lifted its position in LPL Financial by 0.3% in the fourth quarter. Mariner LLC now owns 12,611 shares of the financial services provider's stock worth $4,117,000 after purchasing an additional 39 shares during the period. Gabelli Funds LLC lifted its position in LPL Financial by 51.2% in the fourth quarter. Gabelli Funds LLC now owns 5,293 shares of the financial services provider's stock worth $1,728,000 after purchasing an additional 1,793 shares during the period. United Capital Financial Advisors LLC lifted its position in LPL Financial by 2.6% in the fourth quarter. United Capital Financial Advisors LLC now owns 1,203 shares of the financial services provider's stock worth $393,000 after purchasing an additional 31 shares during the period. Farringdon Capital Ltd. bought a new position in LPL Financial in the fourth quarter worth $513,000. Finally, Epoch Investment Partners Inc. lifted its position in LPL Financial by 3.6% in the fourth quarter. Epoch Investment Partners Inc. now owns 725,572 shares of the financial services provider's stock worth $236,907,000 after purchasing an additional 25,538 shares during the period. 95.66% of the stock is owned by institutional investors.

LPL Financial Stock Performance

Shares of NASDAQ:LPLA opened at $350.98 on Friday. The business has a fifty day moving average of $375.53 and a 200-day moving average of $355.97. The company has a debt-to-equity ratio of 1.41, a quick ratio of 3.22 and a current ratio of 3.22. The firm has a market cap of $28.08 billion, a PE ratio of 24.01, a price-to-earnings-growth ratio of 0.83 and a beta of 0.66. LPL Financial Holdings Inc. has a twelve month low of $204.41 and a twelve month high of $403.58.

LPL Financial (NASDAQ:LPLA - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The financial services provider reported $4.51 EPS for the quarter, topping analysts' consensus estimates of $4.21 by $0.30. The firm had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.77 billion. LPL Financial had a return on equity of 39.80% and a net margin of 7.91%. The company's revenue was up 30.8% on a year-over-year basis. During the same period last year, the company earned $3.88 earnings per share. On average, equities research analysts predict that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Friday, August 15th. LPL Financial's dividend payout ratio (DPR) is presently 8.21%.

Wall Street Analysts Forecast Growth

LPLA has been the subject of a number of analyst reports. TD Cowen cut LPL Financial from a "strong-buy" rating to a "hold" rating and cut their price objective for the company from $406.00 to $403.00 in a report on Wednesday, July 9th. Citigroup cut LPL Financial from a "neutral" rating to a "sell" rating and set a $80.00 price objective for the company. in a report on Wednesday, July 9th. Wells Fargo & Company lifted their price objective on LPL Financial from $402.00 to $420.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Barclays lifted their price objective on LPL Financial from $460.00 to $463.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Finally, Keefe, Bruyette & Woods lifted their price objective on LPL Financial from $425.00 to $435.00 and gave the company an "outperform" rating in a report on Monday, August 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, LPL Financial presently has a consensus rating of "Moderate Buy" and an average price target of $383.58.

Insider Buying and Selling

In related news, Director Greg Gates sold 1,500 shares of LPL Financial stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $374.05, for a total value of $561,075.00. Following the completion of the sale, the director directly owned 19,120 shares in the company, valued at $7,151,836. This trade represents a 7.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is currently owned by insiders.

LPL Financial Profile

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.

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