Fort Washington Investment Advisors Inc. OH Increases Stock Position in LPL Financial Holdings Inc. $LPLA

Key Points

• Fort Washington Investment Advisors Inc. OH increased its stake in LPL Financial Holdings Inc. by 5.0% during Q2, acquiring an additional 3,322 shares, bringing its total to 69,247 shares valued at approximately $25.97 million.
• LPL Financial reported a quarterly earnings per share (EPS) of $4.51, exceeding analysts' expectations of $4.21, and noted a revenue increase of 30.8% year-over-year to $3.84 billion.
• The company recently declared a quarterly dividend of $0.30 per share, representing a dividend yield of 0.4% and a payout ratio of 8.21%.

Fort Washington Investment Advisors Inc. OH boosted its position in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 5.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 69,247 shares of the financial services provider's stock after acquiring an additional 3,322 shares during the period. Fort Washington Investment Advisors Inc. OH owned 0.09% of LPL Financial worth $25,966,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Perigon Wealth Management LLC grew its stake in shares of LPL Financial by 23.0% in the second quarter. Perigon Wealth Management LLC now owns 979 shares of the financial services provider's stock worth $367,000 after purchasing an additional 183 shares during the last quarter. TD Private Client Wealth LLC lifted its position in LPL Financial by 18.0% in the 2nd quarter. TD Private Client Wealth LLC now owns 14,234 shares of the financial services provider's stock valued at $5,337,000 after acquiring an additional 2,168 shares in the last quarter. Foster Victor Wealth Advisors LLC boosted its stake in LPL Financial by 1.8% during the 2nd quarter. Foster Victor Wealth Advisors LLC now owns 55,647 shares of the financial services provider's stock valued at $21,196,000 after purchasing an additional 989 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of LPL Financial by 6.6% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 25,359 shares of the financial services provider's stock worth $9,509,000 after purchasing an additional 1,564 shares in the last quarter. Finally, Ballentine Partners LLC purchased a new position in shares of LPL Financial in the second quarter worth $389,000. 95.66% of the stock is owned by institutional investors.

LPL Financial Stock Performance

Shares of NASDAQ:LPLA opened at $340.52 on Monday. The firm has a fifty day simple moving average of $359.61 and a two-hundred day simple moving average of $354.19. LPL Financial Holdings Inc. has a 52 week low of $222.74 and a 52 week high of $403.58. The company has a quick ratio of 3.22, a current ratio of 3.22 and a debt-to-equity ratio of 1.41. The stock has a market capitalization of $27.24 billion, a P/E ratio of 23.29, a PEG ratio of 0.80 and a beta of 0.66.

LPL Financial (NASDAQ:LPLA - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The financial services provider reported $4.51 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter last year, the firm earned $3.88 EPS. The firm's revenue for the quarter was up 30.8% compared to the same quarter last year. On average, analysts expect that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.20 annualized dividend and a dividend yield of 0.4%. LPL Financial's payout ratio is currently 8.21%.

Insider Buying and Selling at LPL Financial

In other news, Director Aneri Jambusaria sold 80 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $361.25, for a total value of $28,900.00. Following the sale, the director owned 5,582 shares of the company's stock, valued at approximately $2,016,497.50. This represents a 1.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Greg Gates sold 1,500 shares of the firm's stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $338.21, for a total transaction of $507,315.00. Following the completion of the sale, the director owned 17,620 shares of the company's stock, valued at $5,959,260.20. This trade represents a 7.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,580 shares of company stock worth $1,671,235 in the last 90 days. 0.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Rothschild Redb cut LPL Financial from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 19th. Wall Street Zen cut LPL Financial from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. Citigroup cut shares of LPL Financial from a "neutral" rating to a "sell" rating and set a $80.00 target price on the stock. in a research note on Wednesday, July 9th. Wells Fargo & Company increased their price objective on shares of LPL Financial from $402.00 to $420.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Finally, Keefe, Bruyette & Woods lifted their target price on LPL Financial from $425.00 to $435.00 and gave the stock an "outperform" rating in a report on Monday, August 4th. Ten equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, LPL Financial presently has a consensus rating of "Moderate Buy" and a consensus price target of $391.54.

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.

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