Natixis Advisors LLC Grows Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Key Points

• Natixis Advisors LLC increased its stake in LPL Financial by 9.1% in the first quarter, now owning 60,392 shares worth $19.76 million.
• LPL Financial reported earnings of $4.51 per share for the last quarter, exceeding estimates and achieving a year-over-year revenue increase of 30.8%.
• The company declared a quarterly dividend of $0.30 per share, payable on August 29th, with a current dividend yield of 0.3%.

Natixis Advisors LLC lifted its position in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 9.1% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 60,392 shares of the financial services provider's stock after purchasing an additional 5,025 shares during the period. Natixis Advisors LLC owned about 0.08% of LPL Financial worth $19,757,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Janus Henderson Group PLC grew its holdings 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 worth $996,032,000 after purchasing an additional 522,032 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of LPL Financial by 2.2% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,660,736 shares of the financial services provider's stock worth $868,757,000 after purchasing an additional 57,485 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings 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 worth $495,964,000 after purchasing an additional 400,352 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of LPL Financial by 1,453.3% in 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 purchasing an additional 971,814 shares during the last quarter. Finally, Jennison Associates LLC grew its holdings in shares of LPL Financial by 786.2% in the first quarter. Jennison Associates LLC now owns 959,371 shares of the financial services provider's stock worth $313,849,000 after purchasing an additional 851,115 shares during the last quarter. Institutional investors own 95.66% of the company's stock.

Analyst Upgrades and Downgrades

LPLA has been the topic of several recent analyst reports. TD Cowen cut shares of LPL Financial from a "strong-buy" rating to a "hold" rating and cut their target price for the stock from $406.00 to $403.00 in a report on Wednesday, July 9th. Citigroup cut shares of LPL Financial from a "neutral" rating to a "sell" rating and set a $80.00 price target on the stock. in a report on Wednesday, July 9th. Keefe, Bruyette & Woods lifted their price target on shares of LPL Financial from $425.00 to $435.00 and gave the company an "outperform" rating in a report on Monday. Redburn Atlantic upgraded shares of LPL Financial from a "neutral" rating to a "buy" rating and lifted their price target for the company from $420.00 to $460.00 in a report on Monday, June 9th. Finally, Wells Fargo & Company raised their price objective on LPL Financial from $402.00 to $420.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, LPL Financial presently has an average rating of "Moderate Buy" and an average target price of $383.58.

Insider Transactions at LPL Financial

In related news, Director Greg Gates sold 1,500 shares of the stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $382.63, for a total value of $573,945.00. Following the completion of the sale, the director directly owned 20,620 shares of the company's stock, valued at approximately $7,889,830.60. This represents a 6.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.30% of the company's stock.

LPL Financial Stock Performance

Shares of NASDAQ LPLA traded up $4.66 during midday trading on Monday, hitting $374.57. 877,515 shares of the company's stock traded hands, compared to its average volume of 930,445. LPL Financial Holdings Inc. has a 1 year low of $187.19 and a 1 year high of $403.58. The stock has a market capitalization of $29.96 billion, a price-to-earnings ratio of 25.62, a price-to-earnings-growth ratio of 0.90 and a beta of 0.66. The company has a debt-to-equity ratio of 1.82, a quick ratio of 2.31 and a current ratio of 2.31. The firm has a fifty day moving average of $378.57 and a 200 day moving average of $355.27.

LPL Financial (NASDAQ:LPLA - Get Free Report) last released its quarterly 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 net margin of 7.91% and a return on equity of 47.01%. The firm had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.77 billion. During the same quarter in the prior year, the firm earned $3.88 EPS. The business's revenue for the quarter was up 30.8% compared to the same quarter last year. On average, analysts forecast that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Announces Dividend

The company 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 annualized dividend and a 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%.

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.