Fjarde AP Fonden Fourth Swedish National Pension Fund Has $6.31 Million Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Key Points

• The Fjarde AP Fonden Fourth Swedish National Pension Fund has increased its holdings in LPL Financial Holdings Inc. by 17%, now owning 19,300 shares valued at approximately $6.31 million.
• LPL Financial recently announced strong quarterly earnings, reporting $4.51 EPS, exceeding analyst expectations, demonstrating a notable 30.8% increase in revenue year-over-year.
• The firm declared a $0.30 quarterly dividend to be paid on August 29, reflecting a 0.3% yield and a dividend payout ratio of 8.21%.

Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 17.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,300 shares of the financial services provider's stock after acquiring an additional 2,800 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in LPL Financial were worth $6,314,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Millstone Evans Group LLC grew its holdings in 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 in the last quarter. Private Trust Co. NA grew its holdings in LPL Financial by 234.5% in the 1st quarter. Private Trust Co. NA now owns 97 shares of the financial services provider's stock valued at $32,000 after buying an additional 68 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in LPL Financial by 63.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 100 shares of the financial services provider's stock valued at $33,000 after buying an additional 39 shares in the last quarter. City Holding Co. acquired a new position in LPL Financial in the 1st quarter valued at $34,000. Finally, TCTC Holdings LLC grew its holdings in 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 buying an additional 56 shares in the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.

LPL Financial Stock Performance

NASDAQ:LPLA opened at $350.98 on Friday. The stock's 50-day simple moving average is $375.53 and its 200 day simple moving average is $355.97. The firm has a market capitalization of $28.08 billion, a PE ratio of 24.01, a price-to-earnings-growth ratio of 0.83 and a beta of 0.66. The company has a quick ratio of 3.22, a current ratio of 3.22 and a debt-to-equity ratio of 1.41. LPL Financial Holdings Inc. has a twelve month low of $204.41 and a twelve month high of $403.58.

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 for the quarter, beating the consensus estimate of $4.21 by $0.30. The business had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.77 billion. LPL Financial had a return on equity of 39.80% and a net margin of 7.91%. LPL Financial's revenue was up 30.8% compared to the same quarter last year. During the same period last year, the firm posted $3.88 earnings per share. On average, analysts anticipate that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts have commented on the company. Keefe, Bruyette & Woods upped their price objective on LPL Financial from $425.00 to $435.00 and gave the company an "outperform" rating in a report on Monday, August 4th. Wells Fargo & Company upped their price objective on LPL Financial from $402.00 to $420.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Wall Street Zen lowered LPL Financial from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. Morgan Stanley reissued an "overweight" rating and set a $490.00 target price (up from $450.00) on shares of LPL Financial in a report on Tuesday, July 15th. Finally, Barclays increased their target price on LPL Financial from $460.00 to $463.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. One equities research 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $383.58.

Insiders Place Their Bets

In other LPL Financial news, Director Greg Gates sold 1,500 shares of the stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $374.05, for a total value of $561,075.00. Following the completion of the transaction, the director directly owned 19,120 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is owned by company insiders.

LPL Financial Company Profile

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.

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