Empowered Funds LLC lifted its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 32.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,339 shares of the financial services provider's stock after buying an additional 5,985 shares during the quarter. Empowered Funds LLC's holdings in LPL Financial were worth $7,322,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. NewEdge Advisors LLC boosted its position in LPL Financial by 42.7% in the 1st quarter. NewEdge Advisors LLC now owns 3,525 shares of the financial services provider's stock worth $1,153,000 after purchasing an additional 1,055 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of LPL Financial by 0.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 209,126 shares of the financial services provider's stock worth $68,414,000 after purchasing an additional 1,089 shares during the period. Woodline Partners LP purchased a new position in shares of LPL Financial during the 1st quarter valued at approximately $1,636,000. Focus Partners Wealth increased its holdings in shares of LPL Financial by 12.2% during the 1st quarter. Focus Partners Wealth now owns 4,360 shares of the financial services provider's stock valued at $1,426,000 after purchasing an additional 473 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new position in shares of LPL Financial in the 1st quarter valued at $121,000. 95.66% of the stock is owned by institutional investors and hedge funds.
LPL Financial Price Performance
LPL Financial stock opened at $370.67 on Friday. The stock has a market capitalization of $29.19 billion, a P/E ratio of 29.56, a P/E/G ratio of 0.62 and a beta of 0.48. The company's fifty day moving average price is $319.20 and its 200 day moving average price is $315.91. The company has a debt-to-equity ratio of 1.30, a quick ratio of 2.39 and a current ratio of 2.39. LPL Financial Holdings Inc. has a 1 year low of $260.15 and a 1 year high of $400.16.
LPL Financial (NASDAQ:LPLA - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $5.84 earnings per share for the quarter, topping analysts' consensus estimates of $5.39 by $0.45. The company had revenue of $5.19 billion during the quarter, compared to analysts' expectations of $5.04 billion. LPL Financial had a net margin of 5.13% and a return on equity of 32.20%. The firm's revenue for the quarter was up 35.2% on a year-over-year basis. During the same period in the prior year, the business posted $4.51 earnings per share. As a group, equities research analysts anticipate that LPL Financial Holdings Inc. will post 24.09 earnings per share for the current fiscal year.
LPL Financial Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Friday, August 14th. LPL Financial's dividend payout ratio is 9.57%.
Insider Transactions at LPL Financial
In other LPL Financial news, Director Aneri Jambusaria sold 308 shares of the business's stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $306.00, for a total transaction of $94,248.00. Following the completion of the sale, the director directly owned 6,415 shares in the company, valued at approximately $1,962,990. The trade was a 4.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew Enyedi sold 1,000 shares of the stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $352.72, for a total value of $352,720.00. Following the transaction, the director directly owned 13,121 shares of the company's stock, valued at $4,628,039.12. The trade was a 7.08% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.60% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on the stock. Weiss Ratings reissued a "hold (c)" rating on shares of LPL Financial in a report on Friday, July 24th. UBS Group decreased their price objective on shares of LPL Financial from $395.00 to $391.00 and set a "buy" rating for the company in a research report on Wednesday, July 8th. BMO Capital Markets upped their price objective on shares of LPL Financial from $300.00 to $390.00 and gave the stock an "outperform" rating in a research report on Monday, August 3rd. JPMorgan Chase & Co. increased their target price on shares of LPL Financial from $408.00 to $428.00 and gave the stock an "overweight" rating in a research note on Friday, July 31st. Finally, Morgan Stanley raised their target price on LPL Financial from $374.00 to $387.00 and gave the company an "overweight" rating in a research report on Friday, July 10th. Twelve investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $406.69.
View Our Latest Stock Report on LPL Financial
LPL Financial Company Profile
(
Free Report)
LPL Financial NASDAQ: LPLA is a U.S.-focused financial services firm that provides brokerage, custodial and advisory platforms to independent financial advisors, registered investment advisers and institutions. Operating primarily as an independent broker-dealer and custodian, the company supports a network of advisors with the operational, compliance and clearing infrastructure needed to manage client accounts and deliver investment advice outside of traditional wirehouse models.
The firm's product and service offerings include trade execution and clearing, custody services, retirement plan services, model portfolio and advisory platforms, wealth management technology, investment research and product access across equities, fixed income, mutual funds, exchange-traded funds and insurance and annuity solutions.
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