Foyston Gordon & Payne Inc acquired a new stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 36,282 shares of the financial services provider's stock, valued at approximately $10,286,000. LPL Financial comprises approximately 2.2% of Foyston Gordon & Payne Inc's investment portfolio, making the stock its 16th largest holding.
Several other large investors have also added to or reduced their stakes in LPLA. Egerton Capital UK LLP acquired a new stake in shares of LPL Financial in the fourth quarter valued at about $91,012,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of LPL Financial by 7.1% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 77,992 shares of the financial services provider's stock worth $28,204,000 after purchasing an additional 5,179 shares during the last quarter. Markel Group Inc. raised its stake in shares of LPL Financial by 1.2% during the 4th quarter. Markel Group Inc. now owns 559,951 shares of the financial services provider's stock worth $199,998,000 after purchasing an additional 6,630 shares in the last quarter. Norges Bank acquired a new stake in shares of LPL Financial in the 4th quarter valued at approximately $371,616,000. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of LPL Financial by 56.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 158,783 shares of the financial services provider's stock valued at $56,713,000 after buying an additional 57,362 shares in the last quarter. Institutional investors and hedge funds own 95.66% of the company's stock.
LPL Financial Price Performance
Shares of NASDAQ LPLA opened at $361.35 on Friday. The firm has a market cap of $28.45 billion, a P/E ratio of 28.82, a price-to-earnings-growth ratio of 0.61 and a beta of 0.48. The company has a current ratio of 2.39, a quick ratio of 2.39 and a debt-to-equity ratio of 1.30. LPL Financial Holdings Inc. has a 1-year low of $260.15 and a 1-year high of $400.16. The business's 50 day moving average is $326.58 and its 200-day moving average is $315.86.
LPL Financial (NASDAQ:LPLA - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The financial services provider reported $5.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.39 by $0.45. LPL Financial had a return on equity of 32.20% and a net margin of 5.13%.The business had revenue of $5.19 billion during the quarter, compared to the consensus estimate of $5.04 billion. During the same period in the previous year, the company posted $4.51 EPS. The firm's quarterly revenue was up 35.2% on a year-over-year basis. Equities research analysts predict that LPL Financial Holdings Inc. will post 24.09 earnings per share for the current year.
LPL Financial Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.3%. LPL Financial's dividend payout ratio (DPR) is currently 9.57%.
Wall Street Analysts Forecast Growth
A number of analysts have commented on the stock. Keefe, Bruyette & Woods increased their price target on shares of LPL Financial from $365.00 to $390.00 and gave the company an "outperform" rating in a research note on Friday, July 31st. Wolfe Research reiterated an "outperform" rating and set a $454.00 price target on shares of LPL Financial in a report on Wednesday, August 12th. Weiss Ratings reissued a "hold (c)" rating on shares of LPL Financial in a research report on Friday, July 24th. JPMorgan Chase & Co. upped their price objective on LPL Financial from $408.00 to $428.00 and gave the company an "overweight" rating in a research note on Friday, July 31st. Finally, Barclays lifted their target price on LPL Financial from $394.00 to $401.00 and gave the stock an "overweight" rating in a research note on Friday, July 31st. Twelve research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $406.69.
Check Out Our Latest Analysis on LPLA
Insider Activity
In other LPL Financial news, Director Greg Gates sold 4,119 shares of LPL Financial stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $355.38, for a total value of $1,463,810.22. Following the completion of the sale, the director owned 23,602 shares in the company, valued at $8,387,678.76. The trade was a 14.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Aneri Jambusaria sold 308 shares of the business's stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $306.00, for a total transaction of $94,248.00. Following the completion of the sale, the director directly owned 6,415 shares of the company's stock, valued at $1,962,990. This represents 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. Over the last 90 days, insiders sold 5,427 shares of company stock valued at $1,910,778. 0.60% of the stock is owned by company insiders.
LPL Financial Company Profile
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Free Report)
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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