Deutsche Bank AG Makes New $56.85 Million Investment in LPL Financial Holdings Inc. $LPLA

Key Points

• Deutsche Bank initiated a $56.85 million position in LPL Financial, purchasing 201,840 shares and holding approximately 0.26% of the company. Institutional investors collectively own 95.66% of LPL’s stock.
• Analysts maintain a favorable outlook, with 12 Buy ratings and four Holds producing a consensus “Moderate Buy” rating and an average price target of $406.69.
• LPL reported quarterly earnings of $5.84 per share, exceeding estimates by $0.45, while revenue rose 35.2% year over year to $5.19 billion. The company also declared a $0.30 quarterly dividend, equal to a 0.3% annualized yield.

Deutsche Bank AG purchased a new position in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 201,840 shares of the financial services provider's stock, valued at approximately $56,854,000. Deutsche Bank AG owned 0.26% of LPL Financial at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Dodge & Cox increased its holdings in shares of LPL Financial by 18.6% in the 4th quarter. Dodge & Cox now owns 3,948,970 shares of the financial services provider's stock worth $1,410,454,000 after buying an additional 619,715 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of LPL Financial by 8.6% in the 1st quarter. Janus Henderson Group PLC now owns 3,666,780 shares of the financial services provider's stock valued at $1,103,079,000 after purchasing an additional 289,227 shares in the last quarter. Capital World Investors grew its holdings in shares of LPL Financial by 37.9% during the 4th quarter. Capital World Investors now owns 3,625,357 shares of the financial services provider's stock valued at $1,294,869,000 after purchasing an additional 996,806 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in LPL Financial by 36.3% during the 1st quarter. Principal Financial Group Inc. now owns 2,636,544 shares of the financial services provider's stock valued at $793,163,000 after acquiring an additional 702,061 shares during the period. Finally, State Street Corp boosted its holdings in LPL Financial by 0.8% during the 4th quarter. State Street Corp now owns 1,843,135 shares of the financial services provider's stock valued at $658,313,000 after acquiring an additional 14,680 shares during the period. 95.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

LPLA has been the subject of several research analyst reports. TD Cowen increased their price objective on LPL Financial from $330.00 to $372.00 and gave the stock a "hold" rating in a report on Friday, July 31st. Wolfe Research reiterated an "outperform" rating and issued a $454.00 price target on shares of LPL Financial in a research note on Wednesday, August 12th. Weiss Ratings restated a "hold (c)" rating on shares of LPL Financial in a research note on Friday, July 24th. Keefe, Bruyette & Woods increased their price objective on shares of LPL Financial from $365.00 to $390.00 and gave the company an "outperform" rating in a research report on Friday, July 31st. Finally, BMO Capital Markets upped their price objective on LPL Financial from $300.00 to $390.00 and gave the company an "outperform" rating in a research report on Monday, August 3rd. Twelve analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $406.69.

Insider Buying and Selling at LPL Financial

In other news, Director Matthew Enyedi sold 1,000 shares of LPL Financial stock in a transaction on Friday, July 31st. The shares were sold at an average price of $352.72, for a total transaction of $352,720.00. Following the transaction, the director owned 13,121 shares in the company, valued at $4,628,039.12. This trade represents a 7.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Aneri Jambusaria sold 308 shares of the business's stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $306.00, for a total transaction of $94,248.00. Following the sale, the director directly owned 6,415 shares of the company's stock, valued at approximately $1,962,990. The trade was a 4.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.60% of the company's stock.

LPL Financial Trading Down 1.5%

LPL Financial stock opened at $354.02 on Friday. LPL Financial Holdings Inc. has a 52-week low of $260.15 and a 52-week high of $400.16. The company has a market cap of $27.88 billion, a P/E ratio of 28.23, a P/E/G ratio of 0.60 and a beta of 0.48. The company has a quick ratio of 2.39, a current ratio of 2.39 and a debt-to-equity ratio of 1.30. The business has a 50-day simple moving average of $325.27 and a two-hundred day simple moving average of $315.54.

LPL Financial (NASDAQ:LPLA - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The financial services provider reported $5.84 earnings per share for the quarter, topping the consensus estimate of $5.39 by $0.45. The firm had revenue of $5.19 billion for the quarter, compared to analysts' expectations of $5.04 billion. LPL Financial had a net margin of 5.13% and a return on equity of 32.20%. The business's quarterly revenue was up 35.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.51 EPS. Analysts predict that LPL Financial Holdings Inc. will post 24.09 EPS for the current year.

LPL Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be given a $0.30 dividend. The ex-dividend date is Friday, August 14th. This represents a $1.20 annualized dividend and a yield of 0.3%. LPL Financial's dividend payout ratio (DPR) is presently 9.57%.

LPL Financial 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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