Fox Run Management L.L.C. Buys Shares of 1,035 LPL Financial Holdings Inc. $LPLA

Key Points

• Fox Run Management L.L.C. acquired a new stake in LPL Financial Holdings Inc., purchasing 1,035 shares valued at approximately $339,000.
• LPL Financial reported earnings of $4.51 per share, surpassing analysts' expectations, with revenue climbing by 30.8% compared to the previous year.
• The company recently announced a quarterly dividend of $0.30, yielding 0.3%, and the payout ratio currently stands at 8.21%.

Fox Run Management L.L.C. bought a new position in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm bought 1,035 shares of the financial services provider's stock, valued at approximately $339,000.

Other large investors have also bought and sold shares of the company. Millstone Evans Group LLC lifted its stake in LPL Financial by 123.1% during the 1st quarter. Millstone Evans Group LLC now owns 87 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 48 shares in the last quarter. Private Trust Co. NA lifted its stake in LPL Financial by 234.5% during the 1st quarter. Private Trust Co. NA now owns 97 shares of the financial services provider's stock valued at $32,000 after acquiring an additional 68 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in LPL Financial by 63.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 100 shares of the financial services provider's stock valued at $33,000 after acquiring an additional 39 shares in the last quarter. City Holding Co. bought a new position in LPL Financial during the 1st quarter valued at $34,000. Finally, TCTC Holdings LLC lifted its stake in LPL Financial by 116.7% during the 1st quarter. TCTC Holdings LLC now owns 104 shares of the financial services provider's stock valued at $34,000 after acquiring an additional 56 shares in the last quarter. 95.66% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Greg Gates sold 1,500 shares of LPL Financial 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 sale, the director owned 19,120 shares of the company's stock, valued at approximately $7,151,836. This trade represents a 7.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.30% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on LPLA shares. Barclays raised their price objective on LPL Financial from $460.00 to $463.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Morgan Stanley restated an "overweight" rating and set a $490.00 price objective (up from $450.00) on shares of LPL Financial in a research note on Tuesday, July 15th. TD Cowen lowered LPL Financial from a "strong-buy" rating to a "hold" rating and decreased their target price for the company from $406.00 to $403.00 in a research report on Wednesday, July 9th. Redburn Atlantic raised LPL Financial from a "neutral" rating to a "buy" rating and raised their target price for the company from $420.00 to $460.00 in a research report on Monday, June 9th. Finally, Wall Street Zen lowered LPL Financial from a "buy" rating to a "hold" rating in a research report on Saturday, June 14th. Ten investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $383.58.

LPL Financial Stock Performance

Shares of LPL Financial stock traded up $1.20 during trading hours on Friday, hitting $362.44. 911,182 shares of the company's stock traded hands, compared to its average volume of 898,482. LPL Financial Holdings Inc. has a 12-month low of $204.41 and a 12-month high of $403.58. The stock has a market capitalization of $29.00 billion, a price-to-earnings ratio of 24.79, a PEG ratio of 0.85 and a beta of 0.66. The company has a fifty day simple moving average of $373.43 and a 200-day simple moving average of $355.68. The company has a debt-to-equity ratio of 1.41, a current ratio of 3.22 and a quick ratio of 3.22.

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

LPL Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be issued 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%.

LPL Financial 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.