Bank of New York Mellon Corp Grows Stake in LPL Financial Holdings Inc. $LPLA

Key Points

• Bank of New York Mellon increased its stake in LPL Financial by 5.1% in the first quarter, now holding 383,839 shares worth about $115.5 million.
• Insider activity was modest, with Director Aneri Jambusaria selling 308 shares in a pre-arranged Rule 10b5-1 transaction, while company insiders still own just 0.60% of the stock.
• LPL Financial posted better-than-expected earnings for the quarter, with EPS of $5.60 beating estimates, though revenue of $4.94 billion came in slightly below forecasts; analysts maintain a Moderate Buy rating with an average price target of $397.92.

Bank of New York Mellon Corp grew its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 5.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 383,839 shares of the financial services provider's stock after acquiring an additional 18,455 shares during the quarter. Bank of New York Mellon Corp owned about 0.48% of LPL Financial worth $115,470,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Osterweis Capital Management Inc. purchased a new position in LPL Financial in the second quarter worth about $26,000. Clearstead Advisors LLC lifted its stake 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 worth $27,000 after buying an additional 73 shares in the last quarter. Steigerwald Gordon & Koch Inc. grew its holdings in shares of LPL Financial by 550.0% during the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 78 shares of the financial services provider's stock valued at $28,000 after buying an additional 66 shares during the last quarter. Core Wealth Advisors LLC purchased a new stake in shares of LPL Financial during the fourth quarter valued at approximately $36,000. Finally, Physician Wealth Advisors Inc. increased its position in shares of LPL Financial by 580.0% during the first quarter. Physician Wealth Advisors Inc. now owns 136 shares of the financial services provider's stock valued at $41,000 after acquiring an additional 116 shares in the last quarter. Hedge funds and other institutional investors own 95.66% of the company's stock.

Insider Transactions at LPL Financial

In other LPL Financial news, Director Aneri Jambusaria sold 308 shares of the stock in a transaction that occurred on Wednesday, June 17th. The shares were 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 approximately $1,962,990. This trade represents a 4.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on LPLA. Citizens Jmp reissued a "market outperform" rating and issued a $500.00 target price on shares of LPL Financial in a report on Monday, April 6th. UBS Group lowered their price target on LPL Financial from $395.00 to $391.00 and set a "buy" rating on the stock in a report on Wednesday, July 8th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of LPL Financial in a research report on Monday, April 27th. William Blair reiterated an "outperform" rating on shares of LPL Financial in a report on Thursday, June 4th. Finally, Jefferies Financial Group decreased their target price on LPL Financial from $464.00 to $383.00 and set a "buy" rating for the company in a research report on Monday, April 6th. One equities 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. Based on data from MarketBeat, LPL Financial presently has an average rating of "Moderate Buy" and an average target price of $397.92.

LPL Financial Stock Performance

LPLA stock opened at $327.96 on Tuesday. 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 Holdings Inc. has a 1 year low of $260.15 and a 1 year high of $403.58. The company has a market cap of $26.23 billion, a P/E ratio of 29.28, a price-to-earnings-growth ratio of 0.63 and a beta of 0.50. The stock's fifty day moving average price is $294.19 and its 200-day moving average price is $317.74.

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

LPL Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 21st were issued 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 dividend yield of 0.4%. LPL Financial's dividend payout ratio (DPR) is presently 10.71%.

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.

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