Versor Investments LP Has $1.41 Million Stock Position in LPL Financial Holdings Inc. $LPLA

Key Points

• Versor Investments LP has reduced its stake in LPL Financial by 23%, ending with 4,321 shares valued at approximately $1.41 million.
• Multiple institutional investors have modified their holdings, with notable increases from Millstone Evans Group LLC and Private Trust Co. NA, highlighting a trend of buying among institutional investors.
• LPL Financial's stock recently reported a quarterly dividend of $0.30 per share, with a payout ratio of 8.21%, reflecting strong financial performance and shareholder returns.

Versor Investments LP lessened its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 23.0% in the first quarter, according to its most recent filing with the SEC. The firm owned 4,321 shares of the financial services provider's stock after selling 1,293 shares during the quarter. Versor Investments LP's holdings in LPL Financial were worth $1,414,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in LPLA. Summit Securities Group LLC acquired a new position in LPL Financial during the 1st quarter worth $26,000. Millstone Evans Group LLC boosted its position in LPL Financial by 123.1% during 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 during the period. 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 worth $32,000 after acquiring 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 worth $33,000 after acquiring an additional 39 shares during the period. Finally, City Holding Co. acquired a new stake in shares of LPL Financial in the first quarter valued at $34,000. Institutional investors and hedge funds own 95.66% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on LPLA. Morgan Stanley restated an "overweight" rating and issued a $490.00 price objective (up previously from $450.00) on shares of LPL Financial in a report on Tuesday, July 15th. Redburn Atlantic upgraded LPL Financial from a "neutral" rating to a "buy" rating and upped their price objective for the company from $420.00 to $460.00 in a report on Monday, June 9th. Wells Fargo & Company upped their price objective on LPL Financial from $402.00 to $420.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Wall Street Zen lowered LPL Financial from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. Finally, TD Cowen lowered 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. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $383.58.

Insiders Place Their Bets

In related news, Director Greg Gates sold 1,500 shares of the company's 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 transaction, the director directly owned 19,120 shares of the company's stock, valued at approximately $7,151,836. The trade was a 7.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.30% of the company's stock.

LPL Financial Trading Up 0.3%

Shares of NASDAQ LPLA traded up $1.20 during mid-day trading on Friday, hitting $362.44. 911,182 shares of the company traded hands, compared to its average volume of 898,482. LPL Financial Holdings Inc. has a 1 year low of $204.41 and a 1 year high of $403.58. The stock has a market capitalization of $29.00 billion, a price-to-earnings ratio of 24.79, a PEG ratio of 0.85 and a beta of 0.66. 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 has a 50 day moving average of $373.43 and a two-hundred day moving average of $355.76.

LPL Financial (NASDAQ:LPLA - Get Free Report) last announced its earnings results on Thursday, July 31st. The financial services provider reported $4.51 EPS 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 business had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.77 billion. During the same period in the prior year, the business posted $3.88 earnings per share. LPL Financial's revenue was up 30.8% compared to the same quarter last year. On average, sell-side analysts anticipate that LPL Financial Holdings Inc. will post 19.35 earnings per share 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. Stockholders of record on Friday, August 15th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, August 15th. LPL Financial's dividend payout ratio is currently 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.