LPL Financial Holdings Inc. $LPLA is Coronation Fund Managers Ltd.'s 8th Largest Position

Key Points

• Coronation Fund Managers Ltd. has increased its position in LPL Financial Holdings Inc. by 22.5%, making it the 8th largest position in their portfolio.
• Several institutional investors, including GAMMA Investing LLC and Blue Trust Inc., have significantly raised their stakes in LPL Financial during the first quarter.
• Analysts have a consensus rating of “Moderate Buy” for LPL Financial, with a current price target average of $398.38.

Coronation Fund Managers Ltd. lifted its position in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 22.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 151,023 shares of the financial services provider's stock after purchasing an additional 27,690 shares during the period. LPL Financial comprises 3.1% of Coronation Fund Managers Ltd.'s portfolio, making the stock its 8th largest holding. Coronation Fund Managers Ltd. owned approximately 0.19% of LPL Financial worth $56,629,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LPLA. GAMMA Investing LLC increased its stake in shares of LPL Financial by 33.3% in the first quarter. GAMMA Investing LLC now owns 476 shares of the financial services provider's stock worth $156,000 after purchasing an additional 119 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of LPL Financial by 7.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 8,017 shares of the financial services provider's stock worth $2,623,000 after purchasing an additional 552 shares in the last quarter. Blue Trust Inc. boosted its position in shares of LPL Financial by 2,319.1% during the first quarter. Blue Trust Inc. now owns 1,137 shares of the financial services provider's stock worth $372,000 after acquiring an additional 1,090 shares during the last quarter. Advisor Resource Council bought a new position in shares of LPL Financial during the first quarter worth $279,000. Finally, Kentucky Retirement Systems bought a new position in shares of LPL Financial during the first quarter worth $1,663,000. 95.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company upped their target price on shares of LPL Financial from $402.00 to $420.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. The Goldman Sachs Group assumed coverage on shares of LPL Financial in a research report on Friday, September 12th. They set a "buy" rating and a $405.00 target price for the company. Rothschild & Co Redburn lowered shares of LPL Financial from a "buy" rating to a "neutral" rating and set a $390.00 target price for the company. in a research report on Friday, September 19th. Rothschild Redb lowered shares of LPL Financial from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 19th. Finally, UBS Group set a $455.00 target price on shares of LPL Financial in a research report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $398.38.

Insider Buying and Selling at LPL Financial

In related news, Director Aneri Jambusaria sold 80 shares of the firm's 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 transaction, the director owned 5,582 shares of the company's stock, valued at $2,016,497.50. This trade represents a 1.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Greg Gates sold 750 shares of the firm's stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $314.42, for a total transaction of $235,815.00. Following the completion of the transaction, the director directly owned 16,870 shares in the company, valued at $5,304,265.40. This represents a 4.26% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 3,830 shares of company stock worth $1,333,105. Insiders own 1.30% of the company's stock.

LPL Financial Trading Up 0.6%

Shares of LPLA opened at $339.83 on Tuesday. LPL Financial Holdings Inc. has a twelve month low of $252.55 and a twelve month high of $403.58. The company has a market cap of $27.19 billion, a P/E ratio of 23.24, a P/E/G ratio of 0.79 and a beta of 0.61. The company has a current ratio of 3.22, a quick ratio of 3.22 and a debt-to-equity ratio of 1.41. The company's fifty day simple moving average is $342.16 and its 200-day simple moving average is $353.72.

LPL Financial (NASDAQ:LPLA - Get Free Report) last announced its earnings results on Thursday, July 31st. The financial services provider reported $4.51 earnings per share for the quarter, beating 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 business had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter in the prior year, the firm posted $3.88 earnings per share. The business's revenue for the quarter was up 30.8% on a year-over-year basis. As a group, analysts expect that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were paid 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 dividend payout ratio is currently 8.21%.

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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