Cetera Investment Advisers Raises Stock Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Key Points

• Cetera Investment Advisers increased its stake in LPL Financial Holdings Inc. by 25.6% in Q1, holding 18,400 shares valued at approximately $6.01 million.
• LPL Financial reported $4.51 earnings per share for the latest quarter, exceeding analysts' expectations and reflecting a 30.8% year-over-year revenue growth.
• The company announced a quarterly dividend of $0.30 per share, representing a 0.3% dividend yield and a payout ratio of 8.21%.

Cetera Investment Advisers grew its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 25.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,400 shares of the financial services provider's stock after buying an additional 3,747 shares during the period. Cetera Investment Advisers' holdings in LPL Financial were worth $6,019,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Orion Portfolio Solutions LLC lifted its holdings in shares of LPL Financial by 20.5% in the fourth quarter. Orion Portfolio Solutions LLC now owns 4,441 shares of the financial services provider's stock valued at $1,450,000 after purchasing an additional 757 shares in the last quarter. National Bank of Canada FI raised its stake in shares of LPL Financial by 300.5% in the fourth quarter. National Bank of Canada FI now owns 1,462 shares of the financial services provider's stock valued at $477,000 after buying an additional 1,097 shares during the period. Geode Capital Management LLC grew its position in shares of LPL Financial by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 1,459,942 shares of the financial services provider's stock valued at $475,946,000 after purchasing an additional 23,111 shares in the last quarter. Thoroughbred Financial Services LLC grew its position in shares of LPL Financial by 10.7% in the fourth quarter. Thoroughbred Financial Services LLC now owns 1,504 shares of the financial services provider's stock valued at $491,000 after purchasing an additional 145 shares in the last quarter. Finally, Prudential PLC grew its position in shares of LPL Financial by 109.6% in the fourth quarter. Prudential PLC now owns 5,757 shares of the financial services provider's stock valued at $1,880,000 after purchasing an additional 3,010 shares in the last quarter. Institutional investors and hedge funds own 95.66% of the company's stock.

Analyst Ratings Changes

LPLA has been the subject of a number of research reports. TD Cowen cut LPL Financial from a "strong-buy" rating to a "hold" rating and cut their price objective for the stock from $406.00 to $403.00 in a report on Wednesday, July 9th. JMP Securities increased their target price on LPL Financial from $420.00 to $440.00 and gave the stock a "market outperform" rating in a research report on Friday, May 9th. Keefe, Bruyette & Woods raised their price objective on LPL Financial from $425.00 to $435.00 and gave the company an "outperform" rating in a research report on Monday. Wall Street Zen lowered LPL Financial from a "buy" rating to a "hold" rating in a research report on Saturday, June 14th. Finally, Morgan Stanley reiterated an "overweight" rating and set a $490.00 target price (up from $450.00) on shares of LPL Financial in a research note on Tuesday, July 15th. 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 company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $383.58.

Insider Buying and Selling at LPL Financial

In related news, Director Greg Gates sold 1,500 shares of the 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 completion of the transaction, the director directly owned 20,620 shares of the company's stock, valued at $7,889,830.60. This represents a 6.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.30% of the company's stock.

LPL Financial Stock Down 0.2%

Shares of LPL Financial stock traded down $0.63 during trading hours on Tuesday, reaching $373.94. 656,342 shares of the company were exchanged, compared to its average volume of 825,200. The company has a debt-to-equity ratio of 1.82, a quick ratio of 2.31 and a current ratio of 2.31. LPL Financial Holdings Inc. has a 1 year low of $187.19 and a 1 year high of $403.58. The firm has a market cap of $29.91 billion, a PE ratio of 25.58, a PEG ratio of 0.90 and a beta of 0.66. The stock's fifty day moving average is $378.57 and its 200 day moving average is $355.27.

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

LPL Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders 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 dividend yield of 0.3%. LPL Financial's dividend payout ratio is 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.