LPL Financial Holdings Inc. $LPLA Shares Acquired by Korea Investment CORP

Key Points

• Korea Investment Corp increased its stake in LPL Financial by 23.5%, owning approximately 0.08% of the company, worth about $19.66 million after acquiring an additional 11,452 shares.
• LPL Financial reported a better-than-expected earnings results with an EPS of $4.51 for the last quarter, surpassing analysts' estimates of $4.21.
• The company has announced a quarterly dividend of $0.30 per share, indicating a 0.3% annual yield and a low dividend payout ratio of 8.21%.

Korea Investment CORP increased its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 23.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 60,103 shares of the financial services provider's stock after buying an additional 11,452 shares during the quarter. Korea Investment CORP owned about 0.08% of LPL Financial worth $19,662,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Summit Securities Group LLC acquired a new stake in shares of LPL Financial in the first quarter valued at about $26,000. Millstone Evans Group LLC grew its stake in shares of LPL Financial by 123.1% in the first quarter. Millstone Evans Group LLC now owns 87 shares of the financial services provider's stock valued at $28,000 after buying an additional 48 shares in the last quarter. Private Trust Co. NA grew its stake in shares of LPL Financial by 234.5% in the first quarter. Private Trust Co. NA now owns 97 shares of the financial services provider's stock valued at $32,000 after buying an additional 68 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in shares of LPL Financial by 63.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 100 shares of the financial services provider's stock valued at $33,000 after buying an additional 39 shares in the last quarter. Finally, City Holding Co. acquired a new stake in shares of LPL Financial in the first quarter valued at about $34,000. Institutional investors and hedge funds own 95.66% of the company's stock.

LPL Financial Trading Up 1.1%

NASDAQ:LPLA opened at $355.30 on Thursday. 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's 50 day moving average is $374.02 and its two-hundred day moving average is $355.77. LPL Financial Holdings Inc. has a 52 week low of $204.41 and a 52 week high of $403.58. The company has a market cap of $28.42 billion, a PE ratio of 24.30, a P/E/G ratio of 0.82 and a beta of 0.66.

LPL Financial (NASDAQ:LPLA - Get Free Report) last released its earnings results on Thursday, July 31st. The financial services provider reported $4.51 EPS for the quarter, topping analysts' consensus estimates of $4.21 by $0.30. LPL Financial had a return on equity of 39.80% and a net margin of 7.91%.The company had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter last year, the business posted $3.88 EPS. LPL Financial's quarterly revenue was up 30.8% compared to the same quarter last year. On average, analysts predict 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 will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Friday, August 15th. LPL Financial's dividend payout ratio (DPR) is currently 8.21%.

Insider Buying and Selling

In other LPL Financial news, Director Greg Gates sold 1,500 shares of the stock in a transaction that occurred on Tuesday, August 5th. The stock was 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 $7,151,836. This trade represents a 7.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

LPLA has been the subject of a number of recent research reports. Redburn Atlantic upgraded LPL Financial from a "neutral" rating to a "buy" rating and increased their target price for the company from $420.00 to $460.00 in a research note on Monday, June 9th. Barclays raised their price objective on LPL Financial from $460.00 to $463.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. TD Cowen lowered LPL Financial from a "strong-buy" rating to a "hold" rating and lowered their price objective for the company from $406.00 to $403.00 in a research note on Wednesday, July 9th. Morgan Stanley restated an "overweight" rating and set a $490.00 price objective (up previously from $450.00) on shares of LPL Financial in a research note on Tuesday, July 15th. Finally, Citigroup lowered LPL Financial from a "neutral" rating to a "sell" rating and set a $80.00 price objective for the company. in a research note on Wednesday, July 9th. Ten equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $383.58.

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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