LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Bought by Picton Mahoney Asset Management

Key Points

• Picton Mahoney Asset Management increased its stake in LPL Financial by 19.3%, owning approximately 68,309 shares valued at $22,347,000 as of the end of the first quarter.
• In the same quarter, multiple large investors significantly increased their holdings in LPL Financial, indicating strong institutional interest, with hedge funds owning 95.66% of the stock.
• LPL Financial recently reported a quarterly EPS of $5.15, surpassing estimates, and announced a dividend of $0.30 per share, reflecting a 0.31% yield.

Picton Mahoney Asset Management lifted its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 19.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 68,309 shares of the financial services provider's stock after purchasing an additional 11,041 shares during the quarter. Picton Mahoney Asset Management owned about 0.09% of LPL Financial worth $22,347,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in LPLA. Millstone Evans Group LLC increased its holdings in LPL Financial by 123.1% in the first quarter. Millstone Evans Group LLC now owns 87 shares of the financial services provider's stock valued at $28,000 after buying an additional 48 shares in the last quarter. Private Trust Co. NA raised its holdings in LPL Financial by 234.5% during the first quarter. Private Trust Co. NA now owns 97 shares of the financial services provider's stock worth $32,000 after purchasing an additional 68 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in LPL Financial by 63.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 100 shares of the financial services provider's stock worth $33,000 after purchasing an additional 39 shares in the last quarter. City Holding Co. acquired a new stake in LPL Financial in the first quarter valued at $34,000. Finally, Fourth Dimension Wealth LLC purchased a new position in shares of LPL Financial in the fourth quarter valued at $40,000. Hedge funds and other institutional investors own 95.66% of the company's stock.

Insider Buying and Selling

In other LPL Financial news, Director Greg Gates sold 1,500 shares of LPL Financial stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $382.63, for a total transaction of $573,945.00. Following the transaction, the director directly owned 20,620 shares of the company's stock, valued at $7,889,830.60. The trade was a 6.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.70% of the company's stock.

LPL Financial Stock Performance

NASDAQ:LPLA opened at $385.04 on Tuesday. The company has a market cap of $30.80 billion, a P/E ratio of 26.65, a P/E/G ratio of 0.93 and a beta of 0.64. The firm's 50 day moving average is $377.66 and its two-hundred day moving average is $353.63. LPL Financial Holdings Inc. has a fifty-two week low of $187.19 and a fifty-two week high of $396.25. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 1.82.

LPL Financial (NASDAQ:LPLA - Get Free Report) last issued its earnings results on Thursday, May 8th. The financial services provider reported $5.15 earnings per share for the quarter, topping the consensus estimate of $4.54 by $0.61. LPL Financial had a return on equity of 46.34% and a net margin of 8.23%. The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.63 billion. During the same period last year, the company posted $3.83 EPS. The business's quarterly revenue was up 4.5% on a year-over-year basis. Analysts expect that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 30th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date was Friday, May 30th. LPL Financial's dividend payout ratio (DPR) is presently 8.30%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. JMP Securities increased their price objective on shares of LPL Financial from $420.00 to $440.00 and gave the company a "market outperform" rating in a research note on Friday, May 9th. TD Cowen cut shares of LPL Financial from a "strong-buy" rating to a "hold" rating and dropped their price objective for the stock from $406.00 to $403.00 in a research note on Wednesday, July 9th. Morgan Stanley restated an "overweight" rating and set a $490.00 price objective (up from $450.00) on shares of LPL Financial in a research report on Tuesday, July 15th. Citigroup downgraded LPL Financial from a "neutral" rating to a "sell" rating and set a $80.00 price target for the company. in a research report on Wednesday, July 9th. Finally, Barclays boosted their price target on LPL Financial from $450.00 to $460.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $372.15.

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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