KLP Kapitalforvaltning AS Increases Stock Position in LPL Financial Holdings Inc. $LPLA

Key Points

• KLP Kapitalforvaltning AS has increased its stake in LPL Financial Holdings Inc. by 4.9%, now holding 27,800 shares valued at approximately $10.42 million.
• LPL Financial reported earnings of $4.51 per share for the recent quarter, surpassing estimates and showing a significant 30.8% year-over-year revenue growth.
• Institutional ownership of LPL Financial is high, with 95.66% of the company’s stock held by institutional investors and hedge funds.

KLP Kapitalforvaltning AS lifted its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 4.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,800 shares of the financial services provider's stock after acquiring an additional 1,300 shares during the quarter. KLP Kapitalforvaltning AS's holdings in LPL Financial were worth $10,424,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. DAVENPORT & Co LLC lifted its holdings in shares of LPL Financial by 8.9% during the 1st quarter. DAVENPORT & Co LLC now owns 1,918 shares of the financial services provider's stock valued at $627,000 after acquiring an additional 156 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of LPL Financial by 8.8% during the 1st quarter. JPMorgan Chase & Co. now owns 1,304,780 shares of the financial services provider's stock valued at $426,846,000 after acquiring an additional 105,665 shares in the last quarter. Amalgamated Bank lifted its holdings in shares of LPL Financial by 3.8% during the 1st quarter. Amalgamated Bank now owns 5,875 shares of the financial services provider's stock valued at $1,922,000 after acquiring an additional 213 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of LPL Financial by 2,319.1% during the 1st quarter. Blue Trust Inc. now owns 1,137 shares of the financial services provider's stock valued at $372,000 after acquiring an additional 1,090 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of LPL Financial by 198.3% during the 1st quarter. Nisa Investment Advisors LLC now owns 6,497 shares of the financial services provider's stock valued at $2,125,000 after acquiring an additional 4,319 shares in the last quarter. Institutional investors and hedge funds own 95.66% of the company's stock.

LPL Financial Price Performance

LPLA opened at $327.45 on Friday. The company has a 50-day moving average of $348.41 and a 200-day moving average of $353.35. The company has a market capitalization of $26.20 billion, a P/E ratio of 22.40, a PEG ratio of 0.76 and a beta of 0.61. LPL Financial Holdings Inc. has a 1-year low of $242.94 and a 1-year high of $403.58. The company has a debt-to-equity ratio of 1.41, a quick ratio of 3.22 and a current ratio of 3.22.

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

LPL Financial Dividend Announcement

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

Analyst Ratings Changes

Several research firms recently weighed in on LPLA. UBS Group set a $455.00 target price on shares of LPL Financial in a report on Thursday. Morgan Stanley dropped their price target on shares of LPL Financial from $490.00 to $462.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 1st. Raymond James Financial raised shares of LPL Financial from an "underperform" rating to a "market perform" rating in a research note on Thursday. TD Cowen downgraded shares of LPL Financial from a "strong-buy" rating to a "hold" rating and dropped their price target for the stock from $406.00 to $403.00 in a research note on Wednesday, July 9th. Finally, The Goldman Sachs Group began coverage on shares of LPL Financial in a research note on Friday, September 12th. They set a "buy" rating and a $405.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $395.85.

Insider Activity

In other news, Director Aneri Jambusaria sold 80 shares of LPL Financial stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $361.25, for a total value of $28,900.00. Following the completion of the transaction, the director directly owned 5,582 shares of the company's stock, valued at approximately $2,016,497.50. The trade was a 1.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Greg Gates sold 1,500 shares of the business's stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $338.21, for a total transaction of $507,315.00. Following the transaction, the director directly owned 17,620 shares of the company's stock, valued at $5,959,260.20. The trade was a 7.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,830 shares of company stock valued at $1,333,105 over the last ninety days. Company insiders own 1.30% of the company's stock.

About LPL Financial

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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