LPL Financial Holdings Inc. $LPLA Shares Bought by BI Asset Management Fondsmaeglerselskab A S

Key Points

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BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 232.5% during the first quarter, according to its most recent filing with the SEC. The firm owned 62,291 shares of the financial services provider's stock after purchasing an additional 43,558 shares during the period. BI Asset Management Fondsmaeglerselskab A S owned 0.08% of LPL Financial worth $20,378,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Mariner LLC boosted its holdings in shares of LPL Financial by 0.3% in the 4th quarter. Mariner LLC now owns 12,611 shares of the financial services provider's stock valued at $4,117,000 after buying an additional 39 shares in the last quarter. United Capital Financial Advisors LLC boosted its stake in LPL Financial by 2.6% in 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. Dimensional Fund Advisors LP boosted its stake in LPL Financial by 5.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 846,067 shares of the financial services provider's stock worth $276,256,000 after purchasing an additional 45,476 shares in the last quarter. Curi RMB Capital LLC acquired a new stake in LPL Financial in the 4th quarter worth approximately $261,000. Finally, Capital World Investors raised its position in LPL Financial by 8.1% during the 4th quarter. Capital World Investors now owns 19,254 shares of the financial services provider's stock worth $6,287,000 after buying an additional 1,447 shares during the last quarter. Hedge funds and other institutional investors own 95.66% of the company's stock.

LPL Financial Price Performance

LPLA traded up $1.20 on Friday, hitting $362.44. 911,182 shares of the company's stock were exchanged, compared to its average volume of 898,482. LPL Financial Holdings Inc. has a fifty-two week low of $204.41 and a fifty-two week high of $403.58. 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 firm has a 50-day moving average price of $373.43 and a 200-day moving average price of $355.76. The stock has a market cap of $29.00 billion, a price-to-earnings ratio of 24.79, a P/E/G ratio of 0.85 and a beta of 0.66.

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

LPL Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.20 annualized dividend and a dividend yield of 0.3%. LPL Financial's payout ratio is presently 8.21%.

Analysts Set New Price Targets

LPLA has been the subject of a number of recent research reports. Wall Street Zen lowered shares of LPL Financial from a "buy" rating to a "hold" rating in a research report on Saturday, June 14th. Wells Fargo & Company lifted their target price on shares of LPL Financial from $402.00 to $420.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Redburn Atlantic raised shares of LPL Financial from a "neutral" rating to a "buy" rating and lifted their target price for the company from $420.00 to $460.00 in a report on Monday, June 9th. Barclays lifted their target price on shares of LPL Financial from $460.00 to $463.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $490.00 target price (up from $450.00) on shares of LPL Financial in a report on Tuesday, July 15th. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $383.58.

Insider Buying and Selling at LPL Financial

In other news, Director Greg Gates sold 1,500 shares of the business's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $374.05, for a total transaction of $561,075.00. Following the transaction, the director owned 19,120 shares of the company's stock, valued at approximately $7,151,836. The trade was a 7.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.30% of the company's stock.

LPL Financial 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.