JPMorgan Chase & Co. Buys 105,665 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Key Points

• JPMorgan Chase & Co. increased its stake in LPL Financial by 8.8% during Q1, acquiring 105,665 shares, bringing its total ownership to 1,304,780 shares valued at approximately $426.8 million.
• In the latest earnings report, LPL Financial posted an EPS of $4.51, exceeding analysts' expectations of $4.21, with a revenue of $3.84 billion for the quarter.
• Several analysts have adjusted their price targets for LPL Financial, with Morgan Stanley raising its target to $490 while Citigroup downgraded its rating to "sell" with a target of $80.

JPMorgan Chase & Co. lifted its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 8.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,304,780 shares of the financial services provider's stock after acquiring an additional 105,665 shares during the period. JPMorgan Chase & Co. owned 1.64% of LPL Financial worth $426,846,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Anchor Investment Management LLC grew its holdings in LPL Financial by 0.3% in the 4th quarter. Anchor Investment Management LLC now owns 9,697 shares of the financial services provider's stock valued at $3,166,000 after buying an additional 28 shares during the last quarter. Colonial Trust Co SC grew its holdings in LPL Financial by 6.1% in the 4th quarter. Colonial Trust Co SC now owns 505 shares of the financial services provider's stock valued at $165,000 after buying an additional 29 shares during the last quarter. United Capital Financial Advisors LLC grew its holdings in shares of LPL Financial by 2.6% during the 4th quarter. United Capital Financial Advisors LLC now owns 1,203 shares of the financial services provider's stock worth $393,000 after purchasing an additional 31 shares in the last quarter. Koshinski Asset Management Inc. grew its holdings in shares of LPL Financial by 4.9% during the 1st quarter. Koshinski Asset Management Inc. now owns 812 shares of the financial services provider's stock worth $266,000 after purchasing an additional 38 shares in the last quarter. Finally, Mariner LLC grew its holdings in shares of LPL Financial by 0.3% during the 4th quarter. Mariner LLC now owns 12,611 shares of the financial services provider's stock worth $4,117,000 after purchasing an additional 39 shares in the last quarter. 95.66% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Greg Gates sold 1,500 shares of the company's 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 in the company, valued at approximately $7,151,836. This represents a 7.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.70% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Morgan Stanley reissued an "overweight" rating and set a $490.00 price objective (up previously from $450.00) on shares of LPL Financial in a report on Tuesday, July 15th. Wells Fargo & Company lifted their price objective on LPL Financial from $402.00 to $420.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Citigroup lowered LPL Financial from a "neutral" rating to a "sell" rating and set a $80.00 price objective on the stock. in a report on Wednesday, July 9th. TD Cowen lowered LPL Financial from a "strong-buy" rating to a "hold" rating and decreased their price objective for the stock from $406.00 to $403.00 in a report on Wednesday, July 9th. Finally, Barclays boosted their price target on LPL Financial from $460.00 to $463.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $383.58.

LPL Financial Trading Up 0.2%

LPLA stock opened at $370.65 on Tuesday. The company has a market cap of $29.65 billion, a P/E ratio of 25.35, a PEG ratio of 0.87 and a beta of 0.66. LPL Financial Holdings Inc. has a twelve month low of $194.36 and a twelve month 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 business has a fifty day moving average of $377.43 and a 200-day moving average of $355.88.

LPL Financial (NASDAQ:LPLA - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.77 billion. LPL Financial had a return on equity of 39.80% and a net margin of 7.91%. The firm's revenue was up 30.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.88 earnings per share. As a group, equities research analysts expect that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Dividend Announcement

The business 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. This represents a $1.20 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Friday, August 15th. LPL Financial's dividend payout ratio is currently 8.21%.

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.

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