LPL Financial Holdings Inc. $LPLA Shares Purchased by Silvant Capital Management LLC

Key Points

• Silvant Capital Management LLC increased its holdings in LPL Financial Holdings Inc. by 23.2% during the first quarter, owning 15,701 shares valued at over $5 million.
• Multiple institutional investors, including Vanguard Group and Dodge & Cox, also raised their stakes significantly in LPL Financial in the recent quarterly filings, reflecting strong institutional interest.
• LPL Financial reported earnings per share of $4.51 for the quarter, surpassing estimates, with a year-over-year revenue growth of 30.8%.

Silvant Capital Management LLC lifted its position in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 23.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,701 shares of the financial services provider's stock after purchasing an additional 2,955 shares during the quarter. Silvant Capital Management LLC's holdings in LPL Financial were worth $5,136,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in LPL Financial by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 7,372,857 shares of the financial services provider's stock valued at $2,411,956,000 after acquiring an additional 154,200 shares during the last quarter. Janus Henderson Group PLC raised its stake in LPL Financial by 20.6% during the 4th quarter. Janus Henderson Group PLC now owns 3,050,529 shares of the financial services provider's stock valued at $996,032,000 after acquiring an additional 522,032 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its stake in LPL Financial by 0.8% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,681,617 shares of the financial services provider's stock valued at $877,264,000 after acquiring an additional 20,881 shares during the last quarter. Dodge & Cox raised its stake in LPL Financial by 224.1% during the 1st quarter. Dodge & Cox now owns 1,523,460 shares of the financial services provider's stock valued at $498,385,000 after acquiring an additional 1,053,351 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in LPL Financial by 35.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,516,060 shares of the financial services provider's stock valued at $495,964,000 after acquiring an additional 400,352 shares during the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LPLA has been the subject of several analyst reports. JMP Securities upped their price objective on LPL Financial from $420.00 to $440.00 and gave the company a "market outperform" rating in a research note on Friday, May 9th. Morgan Stanley reaffirmed an "overweight" rating and set a $490.00 price objective (up from $450.00) on shares of LPL Financial in a research note on Tuesday, July 15th. Citigroup downgraded LPL Financial from a "neutral" rating to a "sell" rating and set a $80.00 target price for the company. in a research note on Wednesday, July 9th. Redburn Atlantic raised LPL Financial from a "neutral" rating to a "buy" rating and increased their target price for the stock from $420.00 to $460.00 in a research note on Monday, June 9th. Finally, Wells Fargo & Company increased their target price on LPL Financial from $402.00 to $420.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Ten analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $383.58.

LPL Financial Stock Performance

LPLA opened at $367.30 on Wednesday. The stock has a market cap of $29.39 billion, a P/E ratio of 25.12, a P/E/G ratio of 0.84 and a beta of 0.66. The company has a debt-to-equity ratio of 1.41, a current ratio of 3.22 and a quick ratio of 3.22. The stock's 50 day simple moving average is $372.83 and its 200 day simple moving average is $355.60. LPL Financial Holdings Inc. has a 1-year low of $204.41 and a 1-year high of $403.58.

LPL Financial (NASDAQ:LPLA - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The financial services provider reported $4.51 earnings per share for the quarter, topping analysts' consensus estimates of $4.21 by $0.30. The business had revenue of $3.84 billion for the quarter, compared to analysts' expectations of $3.77 billion. LPL Financial had a return on equity of 39.80% and a net margin of 7.91%.The company's revenue was up 30.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.88 EPS. As a group, equities analysts anticipate that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Announces Dividend

The business 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 is Friday, August 15th. LPL Financial's dividend payout ratio is 8.21%.

Insider Buying and Selling

In other LPL Financial news, Director Greg Gates sold 1,500 shares of the stock in a transaction 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 sale, the director owned 19,120 shares in the company, valued at approximately $7,151,836. This represents a 7.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company 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.

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