Voleon Capital Management LP Has $4.27 Million Holdings in LPL Financial Holdings Inc. $LPLA

Key Points

• Voleon Capital Management LP has significantly increased its stake in LPL Financial Holdings by 87.6%, owning 13,056 shares worth approximately $4.27 million.
• Multiple institutional investors, including Dodge & Cox and Principal Financial Group, have also raised their holdings in LPL Financial by substantial percentages, indicating strong institutional interest in the stock.
• LPL Financial recently reported earnings of $4.51 per share, surpassing the consensus estimate and revealing a 30.8% year-over-year revenue increase of $3.84 billion.

Voleon Capital Management LP grew its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 87.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,056 shares of the financial services provider's stock after purchasing an additional 6,096 shares during the period. Voleon Capital Management LP's holdings in LPL Financial were worth $4,271,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of LPL Financial by 2.1% during the first quarter. Vanguard Group Inc. now owns 7,372,857 shares of the financial services provider's stock valued at $2,411,956,000 after purchasing an additional 154,200 shares during the period. Janus Henderson Group PLC increased its holdings in shares of LPL Financial by 20.6% during the fourth quarter. Janus Henderson Group PLC now owns 3,050,529 shares of the financial services provider's stock valued at $996,032,000 after purchasing an additional 522,032 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of LPL Financial by 0.8% during the first 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 purchasing an additional 20,881 shares during the period. Dodge & Cox increased its holdings in shares of LPL Financial by 224.1% during the first quarter. Dodge & Cox now owns 1,523,460 shares of the financial services provider's stock valued at $498,385,000 after purchasing an additional 1,053,351 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in LPL Financial by 35.9% during the first 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 buying an additional 400,352 shares in the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other LPL Financial news, Director Greg Gates sold 1,500 shares of the firm's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $374.05, for a total transaction of $561,075.00. Following the completion of the sale, the director directly owned 19,120 shares in the company, valued at approximately $7,151,836. This trade represents a 7.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Aneri Jambusaria sold 80 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $361.25, for a total value of $28,900.00. Following the sale, the director owned 5,582 shares of the company's stock, valued at $2,016,497.50. The trade was a 1.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,580 shares of company stock valued at $1,671,235 in the last quarter. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

LPLA has been the subject of several research reports. Wells Fargo & Company raised their target price on LPL Financial from $402.00 to $420.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. TD Cowen cut LPL Financial from a "strong-buy" rating to a "hold" rating and decreased their target price for the company from $406.00 to $403.00 in a research note on Wednesday, July 9th. Citigroup cut 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 raised their target price for the company from $420.00 to $460.00 in a research note on Monday, June 9th. Finally, Barclays decreased their target price on LPL Financial from $463.00 to $460.00 and set an "overweight" rating for the company in a research note on Tuesday, September 2nd. Ten investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $391.67.

LPL Financial Trading Up 0.8%

Shares of NASDAQ:LPLA traded up $2.93 during midday trading on Friday, reaching $350.64. The company had a trading volume of 589,143 shares, compared to its average volume of 770,953. The company has a debt-to-equity ratio of 1.41, a quick ratio of 3.22 and a current ratio of 3.22. LPL Financial Holdings Inc. has a 1-year low of $205.50 and a 1-year high of $403.58. The firm has a market cap of $28.05 billion, a price-to-earnings ratio of 23.98, a price-to-earnings-growth ratio of 0.81 and a beta of 0.66. The company has a fifty day simple moving average of $367.68 and a two-hundred day simple moving average of $353.98.

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, beating 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 business had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.77 billion. During the same quarter last year, the company posted $3.88 EPS. LPL Financial's revenue for the quarter was up 30.8% on a year-over-year basis. Research analysts predict that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were given a $0.30 dividend. The ex-dividend date was Friday, August 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.3%. LPL Financial's dividend payout ratio (DPR) is 8.21%.

About LPL Financial

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.