Maven Securities LTD Buys New Shares in LPL Financial Holdings Inc. $LPLA

Key Points

• Maven Securities LTD acquired 5,000 shares of LPL Financial Holdings Inc., valued at approximately $1.64 million, as disclosed in their recent SEC 13F filing.
• Several institutional investors, including Vanguard Group and Principal Financial Group, significantly increased their stakes in LPL Financial, contributing to a total institutional ownership of 95.66%.
• LPL Financial recently reported better-than-expected quarterly earnings, with $4.51 EPS against an estimate of $4.21, and a revenue of $3.84 billion, reflecting a 30.8% year-over-year increase.

Maven Securities LTD acquired a new stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 5,000 shares of the financial services provider's stock, valued at approximately $1,636,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of LPL Financial by 2.1% in 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 lifted its stake in shares of LPL Financial by 20.6% in 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. Massachusetts Financial Services Co. MA lifted its stake in shares of LPL Financial by 35.9% in 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 purchasing an additional 400,352 shares during the period. JPMorgan Chase & Co. raised its position in LPL Financial by 8.8% during the first quarter. JPMorgan Chase & Co. now owns 1,304,780 shares of the financial services provider's stock worth $426,846,000 after acquiring an additional 105,665 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in LPL Financial by 1,453.3% during the first quarter. Principal Financial Group Inc. now owns 1,038,683 shares of the financial services provider's stock worth $339,795,000 after acquiring an additional 971,814 shares during the last quarter. Institutional investors and hedge funds own 95.66% of the company's stock.

Insider Transactions at LPL Financial

In related news, Director Greg Gates sold 1,500 shares of the business's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $374.05, for a total value 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. The trade was a 7.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.30% of the company's stock.

Analyst Ratings Changes

LPLA has been the subject of a number of research reports. Wells Fargo & Company lifted their target price on shares of LPL Financial from $402.00 to $420.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Redburn Atlantic upgraded shares of LPL Financial from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $420.00 to $460.00 in a research report on Monday, June 9th. Citigroup cut shares of LPL Financial from a "neutral" rating to a "sell" rating and set a $80.00 target price for the company. in a research report on Wednesday, July 9th. Barclays lifted their target price on shares of LPL Financial from $460.00 to $463.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Finally, Morgan Stanley restated an "overweight" rating and set a $490.00 target price (up previously from $450.00) on shares of LPL Financial in a research report on Tuesday, July 15th. Ten analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $383.58.

LPL Financial Trading Up 0.3%

Shares of NASDAQ LPLA traded up $1.20 during midday trading on Friday, reaching $362.44. 911,182 shares of the stock were exchanged, compared to its average volume of 898,482. The company has a market capitalization of $29.00 billion, a P/E ratio of 24.79, a P/E/G ratio of 0.85 and a beta of 0.66. LPL Financial Holdings Inc. has a 52-week low of $204.41 and a 52-week high of $403.58. The company has a current ratio of 3.22, a quick ratio of 3.22 and a debt-to-equity ratio of 1.41. The stock has a 50 day moving average price of $373.43 and a 200-day moving average price of $355.76.

LPL Financial (NASDAQ:LPLA - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The financial services provider reported $4.51 EPS for the quarter, topping analysts' consensus estimates of $4.21 by $0.30. The business had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.77 billion. LPL Financial had a net margin of 7.91% and a return on equity of 39.80%. The company's quarterly revenue was up 30.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.88 earnings per share. Equities research analysts expect 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. Investors of record on Friday, August 15th will be issued a $0.30 dividend. 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 payout ratio is presently 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.