Banque Cantonale Vaudoise Invests $967,000 in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Key Points

• Banque Cantonale Vaudoise acquired a new stake in LPL Financial Holdings, purchasing 2,955 shares valued at approximately $967,000 during the first quarter.
• LPL Financial recently announced a quarterly dividend of $0.30, which will be paid on August 29th, representing a yield of 0.3%.
• Several institutional investors increased their holdings in LPL Financial, with a combined ownership of 95.66% of the company's stock.

Banque Cantonale Vaudoise purchased a new position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,955 shares of the financial services provider's stock, valued at approximately $967,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Millstone Evans Group LLC boosted its stake in shares of LPL Financial by 123.1% in the 1st quarter. Millstone Evans Group LLC now owns 87 shares of the financial services provider's stock valued at $28,000 after buying an additional 48 shares during the period. Private Trust Co. NA raised its holdings in LPL Financial by 234.5% in the first quarter. Private Trust Co. NA now owns 97 shares of the financial services provider's stock valued at $32,000 after acquiring an additional 68 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in LPL Financial by 63.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 100 shares of the financial services provider's stock worth $33,000 after acquiring an additional 39 shares during the last quarter. City Holding Co. acquired a new position in LPL Financial during the 1st quarter worth approximately $34,000. Finally, TCTC Holdings LLC increased its position in shares of LPL Financial by 116.7% in the 1st quarter. TCTC Holdings LLC now owns 104 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 56 shares during the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Redburn Atlantic raised LPL Financial from a "neutral" rating to a "buy" rating and increased their target price for the company from $420.00 to $460.00 in a report on Monday, June 9th. Barclays increased their price objective on LPL Financial from $460.00 to $463.00 and gave the company an "overweight" rating in a report on Friday. Morgan Stanley reissued an "overweight" rating and set a $490.00 target price (up previously from $450.00) on shares of LPL Financial in a research report on Tuesday, July 15th. TD Cowen lowered shares of LPL Financial from a "strong-buy" rating to a "hold" rating and dropped their price target for the company from $406.00 to $403.00 in a research note on Wednesday, July 9th. Finally, JMP Securities boosted their price objective on shares of LPL Financial from $420.00 to $440.00 and gave the stock a "market outperform" rating in a research report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, LPL Financial has a consensus rating of "Moderate Buy" and an average price target of $381.08.

Insider Activity

In other LPL Financial news, Director Greg Gates sold 1,500 shares of the firm's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $382.63, for a total transaction of $573,945.00. Following the sale, the director directly owned 20,620 shares of the company's stock, valued at $7,889,830.60. This trade represents a 6.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.30% of the stock is owned by corporate insiders.

LPL Financial Stock Performance

Shares of LPL Financial stock traded down $25.82 on Friday, reaching $369.91. 3,277,005 shares of the stock were exchanged, compared to its average volume of 766,592. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 1.82. The firm has a market capitalization of $29.59 billion, a PE ratio of 25.30, a PEG ratio of 0.91 and a beta of 0.66. LPL Financial Holdings Inc. has a 1-year low of $187.19 and a 1-year high of $403.58. The business has a fifty day moving average price of $378.53 and a two-hundred day moving average price of $355.03.

LPL Financial (NASDAQ:LPLA - Get Free Report) last released its earnings results on Thursday, July 31st. The financial services provider reported $4.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.21 by $0.30. LPL Financial had a return on equity of 47.01% and a net margin of 7.91%. The company had revenue of $3.84 billion for the quarter, compared to analysts' expectations of $3.77 billion. During the same quarter in the previous year, the firm posted $3.88 EPS. The firm's quarterly revenue was up 30.8% on a year-over-year basis. As a group, research analysts anticipate that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Friday, August 15th. LPL Financial's dividend payout ratio is currently 8.21%.

About LPL Financial

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.