Burkehill Global Management LP purchased a new stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 85,000 shares of the financial services provider's stock, valued at approximately $27,807,000. LPL Financial comprises approximately 2.1% of Burkehill Global Management LP's portfolio, making the stock its 16th biggest holding. Burkehill Global Management LP owned approximately 0.11% of LPL Financial as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently modified their holdings of LPLA. Principal Financial Group Inc. increased its holdings in shares of LPL Financial by 1,453.3% in the 1st quarter. Principal Financial Group Inc. now owns 1,038,683 shares of the financial services provider's stock valued at $339,795,000 after acquiring an additional 971,814 shares during the last quarter. Jennison Associates LLC grew its stake in LPL Financial by 786.2% during the 1st quarter. Jennison Associates LLC now owns 959,371 shares of the financial services provider's stock worth $313,849,000 after buying an additional 851,115 shares during the last quarter. Egerton Capital UK LLP grew its stake in LPL Financial by 238.1% during the 1st quarter. Egerton Capital UK LLP now owns 871,265 shares of the financial services provider's stock worth $285,026,000 after buying an additional 613,555 shares during the last quarter. Janus Henderson Group PLC grew its stake in LPL Financial by 20.6% during the 4th quarter. Janus Henderson Group PLC now owns 3,050,529 shares of the financial services provider's stock worth $996,032,000 after buying an additional 522,032 shares during the last quarter. Finally, Balyasny Asset Management L.P. purchased a new position in LPL Financial during the 4th quarter worth approximately $153,946,000. Institutional investors and hedge funds own 95.66% of the company's stock.
Analyst Ratings Changes
A number of research analysts recently issued reports on the company. Wells Fargo & Company raised their price target on LPL Financial from $402.00 to $420.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Keefe, Bruyette & Woods increased their price objective on LPL Financial from $425.00 to $435.00 and gave the stock an "outperform" rating in a research report on Monday, August 4th. Wall Street Zen cut LPL Financial from a "buy" rating to a "hold" rating in a research report on Saturday, June 14th. Citigroup cut LPL Financial from a "neutral" rating to a "sell" rating and set a $80.00 price objective for the company. in a research report on Wednesday, July 9th. Finally, JMP Securities raised their price target on LPL Financial from $420.00 to $440.00 and gave the company a "market outperform" rating in a report on Friday, May 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $383.58.
Get Our Latest Research Report on LPLA
Insider Transactions at LPL Financial
In other LPL Financial news, Director Greg Gates sold 1,500 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $374.05, for a total transaction of $561,075.00. Following the sale, the director owned 19,120 shares in the company, valued at $7,151,836. This represents a 7.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.70% of the stock is owned by insiders.
LPL Financial Stock Down 4.7%
Shares of LPLA traded down $17.61 during midday trading on Wednesday, reaching $355.80. 1,544,976 shares of the company were exchanged, compared to its average volume of 819,144. The stock has a 50-day moving average price of $377.18 and a 200-day moving average price of $356.00. The company has a market cap of $28.46 billion, a price-to-earnings ratio of 24.34, a P/E/G ratio of 0.87 and a beta of 0.66. LPL Financial Holdings Inc. has a 1-year low of $202.20 and a 1-year high of $403.58. The company has a current ratio of 3.22, a quick ratio of 3.22 and a debt-to-equity ratio of 1.41.
LPL Financial (NASDAQ:LPLA - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The financial services provider reported $4.51 EPS for the quarter, topping the consensus estimate of $4.21 by $0.30. LPL Financial had a return on equity of 39.80% and a net margin of 7.91%. The business 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 earnings per share. The company's revenue was up 30.8% compared to the same quarter last year. Research analysts expect that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.
LPL Financial Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.30 per share. The ex-dividend date is Friday, August 15th. This represents a $1.20 annualized dividend and a yield of 0.3%. LPL Financial's dividend payout ratio is presently 8.21%.
About LPL Financial
(
Free Report)
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.
Featured Articles
Before you consider LPL Financial, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and LPL Financial wasn't on the list.
While LPL Financial currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
MarketBeat All Access