Heron Bay Capital Management Acquires New Position in LPL Financial Holdings Inc. $LPLA

Key Points

• Heron Bay Capital Management purchased 235,259 shares of LPL Financial worth approximately $66.3 million, making LPL its second-largest holding and representing 0.30% of the company.
• LPL Financial reported quarterly EPS of $5.84, beating estimates of $5.39, while revenue rose 35.2% year over year to $5.19 billion. Analysts maintain a “Moderate Buy” consensus with an average price target of $406.69.
• The company declared a quarterly dividend of $0.30 per share, equivalent to a $1.20 annualized payout and a 0.3% yield; institutional investors collectively own 95.66% of LPL’s stock.

Heron Bay Capital Management purchased a new stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 235,259 shares of the financial services provider's stock, valued at approximately $66,268,000. LPL Financial accounts for approximately 6.0% of Heron Bay Capital Management's holdings, making the stock its 2nd largest position. Heron Bay Capital Management owned 0.30% of LPL Financial as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Osterweis Capital Management Inc. purchased a new stake in LPL Financial in the 2nd quarter valued at about $26,000. Clearstead Advisors LLC increased its stake in LPL Financial by 3,650.0% during the 4th quarter. Clearstead Advisors LLC now owns 75 shares of the financial services provider's stock worth $27,000 after buying an additional 73 shares during the period. Core Wealth Advisors LLC acquired a new stake in shares of LPL Financial in the fourth quarter valued at $36,000. Physician Wealth Advisors Inc. raised its position in LPL Financial by 580.0% in the 1st quarter. Physician Wealth Advisors Inc. now owns 136 shares of the financial services provider's stock valued at $41,000 after purchasing an additional 116 shares in the last quarter. Finally, Pinpoint Asset Management Singapore Pte. Ltd. purchased a new position in LPL Financial in the fourth quarter worth approximately $50,000. Institutional investors and hedge funds own 95.66% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on LPLA. Weiss Ratings reaffirmed a "hold (c)" rating on shares of LPL Financial in a report on Friday, July 24th. UBS Group reduced their target price on LPL Financial from $395.00 to $391.00 and set a "buy" rating for the company in a report on Wednesday, July 8th. JPMorgan Chase & Co. increased their price target on shares of LPL Financial from $408.00 to $428.00 and gave the stock an "overweight" rating in a research note on Friday, July 31st. Morgan Stanley increased their price objective on LPL Financial from $374.00 to $387.00 and gave the stock an "overweight" rating in a research report on Friday, July 10th. Finally, Barclays lifted their target price on shares of LPL Financial from $394.00 to $401.00 and gave the company an "overweight" rating in a report on Friday, July 31st. Twelve research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, LPL Financial currently has an average rating of "Moderate Buy" and a consensus price target of $406.69.

LPL Financial Stock Up 2.1%

LPL Financial stock opened at $361.35 on Friday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 2.39 and a current ratio of 2.39. The stock's fifty day moving average is $326.58 and its two-hundred day moving average is $315.86. LPL Financial Holdings Inc. has a fifty-two week low of $260.15 and a fifty-two week high of $400.16. The firm has a market capitalization of $28.45 billion, a price-to-earnings ratio of 28.82, a price-to-earnings-growth ratio of 0.59 and a beta of 0.48.

LPL Financial (NASDAQ:LPLA - Get Free Report) last announced 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 net margin of 5.13% and a return on equity of 32.20%. The company had revenue of $5.19 billion for the quarter, compared to the consensus estimate of $5.04 billion. During the same quarter in the prior year, the firm earned $4.51 earnings per share. The company's revenue for the quarter was up 35.2% compared to the same quarter last year. Analysts predict that LPL Financial Holdings Inc. will post 24.09 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.20 annualized dividend and a yield of 0.3%. LPL Financial's payout ratio is presently 9.57%.

Insider Buying and Selling at LPL Financial

In other news, Director Aneri Jambusaria sold 308 shares of LPL Financial 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 in the company, valued at $1,962,990. The trade was a 4.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew Enyedi sold 1,000 shares of LPL Financial stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $352.72, for a total transaction of $352,720.00. Following the sale, the director owned 13,121 shares of the company's stock, valued at approximately $4,628,039.12. This trade represents a 7.08% decrease in their ownership of the stock. 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. In the last ninety days, insiders have sold 5,427 shares of company stock worth $1,910,778. Corporate insiders own 0.60% of the company's stock.

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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