LPL Financial Holdings Inc. $LPLA Shares Purchased by Janney Montgomery Scott LLC

Key Points

• Janney Montgomery Scott LLC increased its stake in LPL Financial Holdings by 29.9%, acquiring an additional 10,001 shares, bringing their total to 43,418 shares valued at approximately $16.28 million.
• Several hedge funds made significant investments in LPL Financial, including Dodge & Cox, which raised its position by 224.1% in the first quarter.
• LPL Financial’s recent earnings report outperformed expectations, with an EPS of $4.51, beating the consensus estimate of $4.21, and a 30.8% year-over-year revenue growth.

Janney Montgomery Scott LLC increased its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 29.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 43,418 shares of the financial services provider's stock after purchasing an additional 10,001 shares during the period. Janney Montgomery Scott LLC owned 0.05% of LPL Financial worth $16,280,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of LPLA. Dodge & Cox raised its position in shares of LPL Financial by 224.1% during the 1st quarter. Dodge & Cox now owns 1,523,460 shares of the financial services provider's stock worth $498,385,000 after purchasing an additional 1,053,351 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of LPL Financial by 1,453.3% during the 1st quarter. Principal Financial Group Inc. now owns 1,038,683 shares of the financial services provider's stock worth $339,795,000 after purchasing an additional 971,814 shares during the last quarter. Jennison Associates LLC raised its position in shares of LPL Financial by 786.2% during the 1st quarter. Jennison Associates LLC now owns 959,371 shares of the financial services provider's stock worth $313,849,000 after purchasing an additional 851,115 shares during the last quarter. Alliancebernstein L.P. raised its holdings in LPL Financial by 550.5% in the 1st quarter. Alliancebernstein L.P. now owns 759,206 shares of the financial services provider's stock valued at $248,367,000 after acquiring an additional 642,503 shares during the last quarter. Finally, Egerton Capital UK LLP raised its holdings in LPL Financial by 238.1% in the 1st quarter. Egerton Capital UK LLP now owns 871,265 shares of the financial services provider's stock valued at $285,026,000 after acquiring an additional 613,555 shares during the last quarter. Institutional investors and hedge funds own 95.66% of the company's stock.

Analysts Set New Price Targets

LPLA has been the subject of a number of recent research reports. Barclays cut their price objective on shares of LPL Financial from $463.00 to $460.00 and set an "overweight" rating for the company in a report on Tuesday, September 2nd. Citigroup downgraded shares of LPL Financial from a "neutral" rating to a "sell" rating and set a $80.00 price objective for the company. in a report on Wednesday, July 9th. TD Cowen downgraded shares of LPL Financial from a "strong-buy" rating to a "hold" rating and cut their price objective for the company from $406.00 to $403.00 in a report on Wednesday, July 9th. Rothschild & Co Redburn downgraded shares of LPL Financial from a "buy" rating to a "neutral" rating and set a $390.00 price objective for the company. in a report on Friday, September 19th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of LPL Financial from $425.00 to $435.00 and gave the company an "outperform" rating in a report on Monday, August 4th. Ten analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $389.38.

LPL Financial Stock Down 1.3%

LPL Financial stock opened at $312.89 on Friday. LPL Financial Holdings Inc. has a fifty-two week low of $229.21 and a fifty-two week 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. The firm has a 50 day moving average price of $355.48 and a 200 day moving average price of $353.80. The company has a market capitalization of $25.03 billion, a PE ratio of 21.40, a price-to-earnings-growth ratio of 0.74 and a beta of 0.61.

LPL Financial (NASDAQ:LPLA - Get Free Report) last posted 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 firm had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter last year, the firm earned $3.88 EPS. The firm's revenue for the quarter was up 30.8% on a year-over-year basis. Research analysts expect that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Dividend Announcement

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

Insider Activity at LPL Financial

In related news, Director Aneri Jambusaria sold 80 shares of LPL Financial stock in a transaction that occurred on 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 sale, the director owned 5,582 shares in the company, valued at approximately $2,016,497.50. This trade represents a 1.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Greg Gates sold 1,500 shares of the business's stock in a transaction on Friday, September 5th. The stock was sold at an average price of $338.21, for a total transaction of $507,315.00. Following the completion of the transaction, the director owned 17,620 shares of the company's stock, valued at approximately $5,959,260.20. This trade represents a 7.85% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,080 shares of company stock valued at $1,097,290 in the last quarter. 1.30% of the stock is owned by insiders.

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.

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