Amundi Grows Stock Holdings in LPL Financial Holdings Inc. $LPLA

Amundi boosted its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 30.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 164,400 shares of the financial services provider's stock after acquiring an additional 38,624 shares during the period. Amundi owned 0.21% of LPL Financial worth $46,308,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LPLA. Osterweis Capital Management Inc. purchased a new position in LPL Financial in the 2nd quarter valued at $26,000. Clearstead Advisors LLC raised its position in LPL Financial by 3,650.0% during the 4th quarter. Clearstead Advisors LLC now owns 75 shares of the financial services provider's stock worth $27,000 after buying an additional 73 shares during the last quarter. Core Wealth Advisors LLC purchased a new position in LPL Financial during the 4th quarter worth $36,000. Physician Wealth Advisors Inc. lifted its stake in shares of 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 acquiring an additional 116 shares during the period. Finally, Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in shares of LPL Financial in the 4th quarter worth $50,000. 95.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at LPL Financial

In other LPL Financial news, Director Aneri Jambusaria sold 308 shares of the stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $357.36, for a total transaction of $110,066.88. Following the sale, the director owned 6,107 shares in the company, valued at approximately $2,182,397.52. This represents a 4.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Greg Gates sold 4,119 shares of the firm's stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $355.38, for a total value of $1,463,810.22. Following the transaction, the director directly owned 23,602 shares of the company's stock, valued at $8,387,678.76. The trade was a 14.86% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 5,735 shares of company stock valued at $2,020,845. 0.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on LPLA. Wolfe Research reiterated an "outperform" rating and set a $454.00 price target on shares of LPL Financial in a research note on Wednesday, August 12th. Morgan Stanley raised their price objective on shares of LPL Financial from $374.00 to $387.00 and gave the company an "overweight" rating in a research report on Friday, July 10th. Truist Financial initiated coverage on LPL Financial in a report on Tuesday, September 1st. They issued a "hold" rating and a $389.00 price objective on the stock. UBS Group dropped their target price on LPL Financial from $395.00 to $391.00 and set a "buy" rating on the stock in a research report on Wednesday, July 8th. Finally, Barclays raised their price target on LPL Financial from $394.00 to $401.00 and gave the company an "overweight" rating in a report on Friday, July 31st. Twelve research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $405.79.

LPL Financial Price Performance

LPL Financial stock opened at $347.26 on Friday. LPL Financial Holdings Inc. has a 52 week low of $260.15 and a 52 week high of $400.16. The company has a quick ratio of 2.39, a current ratio of 2.39 and a debt-to-equity ratio of 1.30. The firm's 50-day simple moving average is $346.10 and its 200 day simple moving average is $316.14. The firm has a market capitalization of $27.34 billion, a PE ratio of 27.69, a P/E/G ratio of 0.59 and a beta of 0.48.

LPL Financial (NASDAQ:LPLA - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The financial services provider reported $5.84 EPS for the quarter, beating analysts' consensus estimates of $5.39 by $0.45. The firm had revenue of $5.19 billion for the quarter, compared to analysts' expectations of $5.04 billion. LPL Financial had a net margin of 5.13% and a return on equity of 32.20%. The firm's revenue was up 35.2% on a year-over-year basis. During the same period in the prior year, the company earned $4.51 EPS. On average, equities research analysts predict that LPL Financial Holdings Inc. will post 24.06 EPS for the current fiscal year.

LPL Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were paid a $0.30 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.20 dividend on an annualized basis and a yield of 0.3%. LPL Financial's dividend payout ratio is presently 9.57%.

LPL Financial Profile

LPL Financial Holdings Inc NASDAQ: LPLA is the parent company of LPL Financial LLC, an independent broker-dealer and registered investment adviser that provides services and support to financial advisors. Rather than operating primarily through a proprietary branch network, LPL enables independent financial professionals, registered investment advisers, and advisors affiliated with banks and credit unions to operate their own practices while accessing investment products, technology, and business resources.

The company's platform supports brokerage and fee-based advisory services, retirement plan services, insurance and annuity products, alternative investments, cash management, research, compliance, and practice management.

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