Channing Capital Management LLC Decreases Holdings in LPL Financial Holdings Inc. $LPLA

Key Points

• Channing Capital Management LLC reduced its stake in LPL Financial Holdings by 18.6%, now holding 33,015 shares valued at approximately $10.8 million, according to a recent SEC filing.
• Several other institutional investors, including Colonial Trust Co SC and MassMutual Private Wealth, have increased their stakes in LPL Financial, reflecting a 95.66% ownership by institutional investors.
• LPL Financial recently reported stronger-than-expected earnings, with a profit of $4.51 per share and revenue of $3.84 billion, highlighting a 30.8% year-over-year growth.

Channing Capital Management LLC lowered its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 18.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 33,015 shares of the financial services provider's stock after selling 7,543 shares during the quarter. Channing Capital Management LLC's holdings in LPL Financial were worth $10,801,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of LPLA. Principal Financial Group Inc. raised its stake in shares of LPL Financial by 1,453.3% during the 1st quarter. Principal Financial Group Inc. now owns 1,038,683 shares of the financial services provider's stock worth $339,795,000 after acquiring an additional 971,814 shares in the last quarter. Jennison Associates LLC raised its stake in shares of 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 acquiring an additional 851,115 shares in the last quarter. Egerton Capital UK LLP raised its stake in shares of 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 acquiring an additional 613,555 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of 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 acquiring an additional 522,032 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of LPL Financial by 337.1% during the 1st quarter. Wellington Management Group LLP now owns 658,593 shares of the financial services provider's stock worth $215,452,000 after acquiring an additional 507,923 shares in the last quarter. Institutional investors own 95.66% of the company's stock.

LPL Financial Stock Performance

Shares of LPLA stock traded up $4.02 during trading hours on Tuesday, hitting $364.45. The company's stock had a trading volume of 314,106 shares, compared to its average volume of 810,088. The company has a 50 day moving average of $373.04 and a 200 day moving average of $355.51. The stock has a market cap of $29.16 billion, a PE ratio of 24.93, a price-to-earnings-growth ratio of 0.85 and a beta of 0.66. 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 Holdings Inc. has a 12-month low of $204.41 and a 12-month high of $403.58.

LPL Financial (NASDAQ:LPLA - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The financial services provider reported $4.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.21 by $0.30. LPL Financial had a net margin of 7.91% and a return on equity of 39.80%. The firm had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same period in the prior year, the firm posted $3.88 earnings per share. The firm's quarterly revenue was up 30.8% compared to the same quarter last year. On average, sell-side analysts forecast that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.20 dividend on an annualized basis and a yield of 0.3%. LPL Financial's dividend payout ratio is 8.21%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on LPLA. 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 note on Friday, May 9th. Keefe, Bruyette & Woods boosted their price objective on shares of LPL Financial from $425.00 to $435.00 and gave the stock an "outperform" rating in a research note on Monday, August 4th. Barclays boosted their price objective on shares of LPL Financial from $460.00 to $463.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Wall Street Zen lowered shares of LPL Financial from a "buy" rating to a "hold" rating in a research note on Saturday, June 14th. Finally, Wells Fargo & Company upped their price target on shares of LPL Financial from $402.00 to $420.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, LPL Financial has an average rating of "Moderate Buy" and a consensus target price of $383.58.

Insider Transactions at LPL Financial

In other LPL Financial news, Director Greg Gates sold 1,500 shares of the stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $374.05, for a total transaction of $561,075.00. Following the transaction, the director directly owned 19,120 shares of the company's stock, valued at $7,151,836. This trade represents a 7.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.70% of the company's stock.

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.