IFM Investors Pty Ltd Grows Stake in LPL Financial Holdings Inc. $LPLA

Key Points

• IFM Investors Pty Ltd increased its stake in LPL Financial Holdings Inc. by 18.3%, acquiring 2,684 additional shares, bringing its total holdings to 17,379 shares valued at approximately $6.5 million.
• LPL Financial reported a quarterly earnings per share (EPS) of $4.51, beating analysts' estimates of $4.21, with revenues totaling $3.84 billion, representing a 30.8% year-over-year increase.
• The company declared a quarterly dividend of $0.30 per share, translating to an annualized yield of 0.4%, with an 8.21% dividend payout ratio.

IFM Investors Pty Ltd increased its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 18.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,379 shares of the financial services provider's stock after purchasing an additional 2,684 shares during the quarter. IFM Investors Pty Ltd's holdings in LPL Financial were worth $6,517,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of LPLA. Dodge & Cox lifted its holdings in shares of LPL Financial by 224.1% during the first quarter. Dodge & Cox now owns 1,523,460 shares of the financial services provider's stock valued at $498,385,000 after purchasing an additional 1,053,351 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of LPL Financial by 1,453.3% during the first quarter. Principal Financial Group Inc. now owns 1,038,683 shares of the financial services provider's stock valued at $339,795,000 after purchasing an additional 971,814 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of LPL Financial by 786.2% during the first quarter. Jennison Associates LLC now owns 959,371 shares of the financial services provider's stock valued at $313,849,000 after purchasing an additional 851,115 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in shares of LPL Financial by 550.5% during the first quarter. Alliancebernstein L.P. now owns 759,206 shares of the financial services provider's stock valued at $248,367,000 after purchasing an additional 642,503 shares in the last quarter. Finally, Egerton Capital UK LLP lifted its holdings in shares of LPL Financial by 238.1% during the first quarter. Egerton Capital UK LLP now owns 871,265 shares of the financial services provider's stock valued at $285,026,000 after purchasing an additional 613,555 shares in the last quarter. 95.66% of the stock is owned by institutional investors.

LPL Financial Stock Performance

LPLA traded up $1.49 during midday trading on Tuesday, reaching $338.48. The company had a trading volume of 302,398 shares, compared to its average volume of 832,267. 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 business has a 50-day moving average of $362.75 and a two-hundred day moving average of $353.50. The company has a market cap of $27.08 billion, a P/E ratio of 23.09, a P/E/G ratio of 0.78 and a beta of 0.66. LPL Financial Holdings Inc. has a 1 year low of $219.13 and a 1 year high of $403.58.

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

LPL Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were given a $0.30 dividend. The ex-dividend date was Friday, August 15th. This represents a $1.20 dividend on an annualized basis and a yield of 0.4%. LPL Financial's dividend payout ratio is presently 8.21%.

Insider Transactions at LPL Financial

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

Wall Street Analyst Weigh In

LPLA has been the topic of a number of research analyst reports. TD Cowen downgraded LPL Financial from a "strong-buy" rating to a "hold" rating and lowered their price target for the company from $406.00 to $403.00 in a report on Wednesday, July 9th. Wall Street Zen downgraded LPL Financial from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. Morgan Stanley reissued an "overweight" rating and issued a $490.00 target price (up previously from $450.00) on shares of LPL Financial in a report on Tuesday, July 15th. Keefe, Bruyette & Woods increased their target price on LPL Financial from $425.00 to $435.00 and gave the company an "outperform" rating in a report on Monday, August 4th. Finally, The Goldman Sachs Group assumed coverage on LPL Financial in a report on Friday, September 12th. They issued a "buy" rating and a $405.00 target price on the stock. 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 company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $391.54.

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.