Northwest & Ethical Investments L.P. Acquires 3,260 Shares of LPL Financial Holdings Inc. $LPLA

Key Points

• Northwest & Ethical Investments L.P. increased its stake in LPL Financial Holdings by 250.8%, acquiring additional shares worth approximately $1.49 million as of their recent SEC filing.
• Several institutional investors, including JPMorgan Chase and Merit Financial Group, significantly increased their holdings in LPL Financial during the first quarter, with institutional ownership reaching 95.66%.
• LPL Financial reported an earnings per share (EPS) of $4.51 for the quarter, surpassing estimates and marking a 30.8% year-over-year revenue increase.

Northwest & Ethical Investments L.P. lifted its position in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 250.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,560 shares of the financial services provider's stock after acquiring an additional 3,260 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in LPL Financial were worth $1,489,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Millstone Evans Group LLC grew its position in shares of LPL Financial by 123.1% in the 1st quarter. Millstone Evans Group LLC now owns 87 shares of the financial services provider's stock worth $28,000 after acquiring an additional 48 shares in the last quarter. Private Trust Co. NA boosted its position in LPL Financial by 234.5% during the 1st quarter. Private Trust Co. NA now owns 97 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 68 shares during the period. MassMutual Private Wealth & Trust FSB boosted its position in LPL Financial by 63.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 100 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 39 shares during the period. City Holding Co. acquired a new position in LPL Financial during the 1st quarter valued at approximately $34,000. Finally, TCTC Holdings LLC boosted its position in LPL Financial by 116.7% during the 1st quarter. TCTC Holdings LLC now owns 104 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 56 shares during the period. Institutional investors and hedge funds own 95.66% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on LPLA. Wall Street Zen lowered LPL Financial from a "buy" rating to a "hold" rating in a research report on Saturday, June 14th. Wells Fargo & Company boosted their price objective on LPL Financial from $402.00 to $420.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. Barclays boosted their price objective on LPL Financial from $460.00 to $463.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. 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 report on Tuesday, July 15th. Finally, Redburn Atlantic raised 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 research note on Monday, June 9th. Ten research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $383.58.

LPL Financial Stock Performance

LPL Financial stock traded up $1.20 during mid-day trading on Friday, hitting $362.44. 911,182 shares of the company's stock traded hands, compared to its average volume of 916,633. The firm has a 50 day moving average price of $373.43 and a 200 day moving average price of $355.57. 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 company has a market cap of $29.00 billion, a PE ratio of 24.79, a price-to-earnings-growth ratio of 0.85 and a beta of 0.66. LPL Financial Holdings Inc. has a one year low of $204.41 and a one year high of $403.58.

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 return on equity of 39.80% and a net margin of 7.91%.The firm had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter in the previous year, the business earned $3.88 EPS. The firm's revenue for the quarter was up 30.8% on a year-over-year basis. On average, equities analysts forecast that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Dividend Announcement

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

Insider Activity at LPL Financial

In other news, Director Greg Gates sold 1,500 shares of the business's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $374.05, for a total value of $561,075.00. Following the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.70% 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.