LPL Financial Holdings Inc. $LPLA Stock: International Assets Investment Management LLC Raises Holdings

Key Points

• Institutional ownership increased: International Assets Investment Management LLC raised its LPL Financial position by 1,217.1% in the third quarter to 13,000 shares worth approximately $3.98 million. Institutional investors and hedge funds collectively own 95.66% of the stock.
• Analyst sentiment remains moderately bullish but mixed: Fourteen analysts rate LPLA a Buy and three rate it Hold, producing a “Moderate Buy” consensus and an average price target of $400.60. However, several firms recently lowered their targets, while insiders sold $1.73 million of shares during the quarter.
• Latest operating results were solid: LPL reported quarterly EPS of $5.97, beating estimates by $0.28, while revenue rose 17.4% year over year to $5.34 billion. The company also declared a quarterly dividend of $0.30 per share.

International Assets Investment Management LLC grew its position in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 1,217.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,000 shares of the financial services provider's stock after purchasing an additional 12,013 shares during the quarter. International Assets Investment Management LLC's holdings in LPL Financial were worth $3,975,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. BlackRock Inc. bought a new position in LPL Financial during the second quarter worth $1,333,189,000. Jupiter Topco LLC acquired a new stake in LPL Financial during the 2nd quarter worth about $1,182,595,000. Janus Henderson Group PLC grew its holdings in LPL Financial by 8.6% during the 1st quarter. Janus Henderson Group PLC now owns 3,666,780 shares of the financial services provider's stock worth $1,103,079,000 after acquiring an additional 289,227 shares during the period. Principal Financial Group Inc. raised its position in shares of LPL Financial by 36.3% in the 1st quarter. Principal Financial Group Inc. now owns 2,636,544 shares of the financial services provider's stock worth $793,163,000 after acquiring an additional 702,061 shares in the last quarter. Finally, WCM Investment Management LLC raised its position in shares of LPL Financial by 0.8% in the 1st quarter. WCM Investment Management LLC now owns 1,734,395 shares of the financial services provider's stock worth $520,631,000 after acquiring an additional 12,922 shares in the last quarter. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Greg Gates sold 4,119 shares of LPL Financial stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $355.38, for a total value of $1,463,810.22. Following the sale, the director owned 23,602 shares in the company, valued at $8,387,678.76. The trade was a 14.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Katharine Reeping sold 440 shares of LPL Financial stock in a transaction on Friday, September 11th. The shares were sold at an average price of $347.88, for a total transaction of $153,067.20. Following the completion of the sale, the insider owned 1,774 shares in the company, valued at approximately $617,139.12. This trade represents a 19.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 4,867 shares of company stock valued at $1,726,944 over the last quarter. 0.60% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on LPLA. Barclays dropped their target price on shares of LPL Financial from $409.00 to $372.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 28th. Morgan Stanley lifted their target price on shares of LPL Financial from $387.00 to $393.00 and gave the stock an "overweight" rating in a research report on Friday, October 9th. Weiss Ratings reiterated a "hold (c)" rating on shares of LPL Financial in a research note on Thursday, October 22nd. Wolfe Research reiterated an "outperform" rating and set a $454.00 target price on shares of LPL Financial in a research report on Wednesday, August 12th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and set a $400.00 target price on shares of LPL Financial in a report on Wednesday. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $400.60.

LPL Financial News Summary

Here are the key news stories impacting LPL Financial this week:

• Positive Sentiment: LPL added Anchor Financial Partners to its broker-dealer and RIA platforms. The team reportedly serves approximately $525 million in advisory, brokerage and retirement-plan assets, adding to LPL’s advisor network and asset base. LPL Financial Welcomes Anchor Financial Partners
• Positive Sentiment: A Bell Global Equities Fund investor letter pushed back against concerns that artificial intelligence could disrupt LPL’s advisor-driven business model, supporting the long-term value of its independent wealth-management platform. Bell Global Equities Fund on AI Disruption Concerns
• Neutral Sentiment: UBS lowered its target from $390 to $369 but maintained a Buy rating, implying substantial upside based on the referenced share price. This indicates analysts remain divided rather than uniformly bearish. UBS LPL Financial Ratings
• Negative Sentiment: TD Cowen, Barclays, Wells Fargo, Truist Financial and JPMorgan Chase all issued lower expectations or price targets for LPLA. TD Cowen’s revised target was reported at $356, while the cluster of reductions weakened investor sentiment and contributed to the stock’s decline. TD Cowen Cuts LPL Financial Target
• Negative Sentiment: Recent reported insider activity showed four open-market sales and no purchases over six months, adding a modest additional cautionary signal.

LPL Financial Price Performance

Shares of LPL Financial stock opened at $283.74 on Monday. The firm has a market cap of $22.09 billion, a PE ratio of 16.28, a price-to-earnings-growth ratio of 0.54 and a beta of 0.55. LPL Financial Holdings Inc. has a 12-month low of $260.15 and a 12-month high of $400.16. The company has a quick ratio of 2.62, a current ratio of 2.62 and a debt-to-equity ratio of 1.34. The company's fifty day simple moving average is $330.25 and its two-hundred day simple moving average is $323.02.

LPL Financial (NASDAQ:LPLA - Get Free Report) last posted its earnings results on Tuesday, October 27th. The financial services provider reported $5.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.69 by $0.28. LPL Financial had a return on equity of 32.05% and a net margin of 6.83%. The company had revenue of $5.34 billion for the quarter, compared to analysts' expectations of $5.35 billion. During the same period last year, the firm earned $5.20 earnings per share. LPL Financial's quarterly revenue was up 17.4% on a year-over-year basis. As a group, equities analysts expect that LPL Financial Holdings Inc. will post 23.51 EPS for the current year.

LPL Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 30th. Stockholders of record on Thursday, November 12th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, November 12th. This represents a $1.20 annualized dividend and a dividend yield of 0.4%. LPL Financial's payout ratio is 6.88%.

LPL Financial Profile

LPL Financial Holdings Inc is a financial services company that supports independent financial advisors and institutions across the United States. Through its primary subsidiary, LPL Financial LLC, the company provides brokerage, investment advisory, and custodial services, enabling advisors to serve individual investors, families, retirement plans, and other clients.

LPL's platform includes access to brokerage and advisory products, securities clearing and custody, trading and operations support, technology, compliance services, investment research, and practice-management resources.

Want to see what other hedge funds are holding LPLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.