OMERS ADMINISTRATION Corp Purchases 30,592 Shares of LPL Financial Holdings Inc. $LPLA

Key Points

• OMERS ADMINISTRATION Corp has significantly increased its stake in LPL Financial Holdings by 400.4%, now owning 38,232 shares valued at approximately $12.5 million.
• The company recently reported $4.51 earnings per share for the last quarter, surpassing analysts' expectations, with revenue rising by 30.8% year-over-year.
• In terms of dividends, LPL Financial announced a quarterly payment of $0.30 per share, resulting in an annualized dividend yield of 0.3%.

OMERS ADMINISTRATION Corp lifted its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 400.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,232 shares of the financial services provider's stock after purchasing an additional 30,592 shares during the period. OMERS ADMINISTRATION Corp's holdings in LPL Financial were worth $12,507,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of LPLA. Quarry LP lifted its stake in shares of LPL Financial by 275.0% in the 4th quarter. Quarry LP now owns 210 shares of the financial services provider's stock valued at $69,000 after purchasing an additional 154 shares during the last quarter. Beacon Pointe Advisors LLC lifted its stake in shares of LPL Financial by 26.1% in the 4th quarter. Beacon Pointe Advisors LLC now owns 1,449 shares of the financial services provider's stock valued at $473,000 after purchasing an additional 300 shares during the last quarter. Northern Trust Corp lifted its stake in shares of LPL Financial by 14.3% in the 4th quarter. Northern Trust Corp now owns 491,145 shares of the financial services provider's stock valued at $160,364,000 after purchasing an additional 61,551 shares during the last quarter. Lido Advisors LLC lifted its position in LPL Financial by 14.4% during the 4th quarter. Lido Advisors LLC now owns 1,739 shares of the financial services provider's stock worth $568,000 after acquiring an additional 219 shares during the last quarter. Finally, Voleon Capital Management LP acquired a new position in LPL Financial during the 4th quarter worth $2,273,000. Institutional investors and hedge funds own 95.66% of the company's stock.

LPL Financial Price Performance

NASDAQ:LPLA traded down $0.35 during mid-day trading on Monday, hitting $364.48. The company's stock had a trading volume of 249,319 shares, compared to its average volume of 670,501. LPL Financial Holdings Inc. has a fifty-two week low of $204.41 and a fifty-two 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 company has a market capitalization of $29.16 billion, a price-to-earnings ratio of 24.93, a P/E/G ratio of 0.85 and a beta of 0.66. The stock has a fifty day moving average of $371.97 and a 200-day moving average of $355.47.

LPL Financial (NASDAQ:LPLA - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The financial services provider reported $4.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.21 by $0.30. LPL Financial had a net margin of 7.91% and a return on equity of 39.80%. 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 business posted $3.88 earnings per share. The company's quarterly revenue was up 30.8% compared to the same quarter last year. As a group, equities analysts forecast that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Friday, August 15th. LPL Financial's dividend payout ratio is 8.21%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Barclays boosted 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. JMP Securities boosted their target price on shares of LPL Financial from $420.00 to $440.00 and gave the stock a "market outperform" rating in a research report on Friday, May 9th. Wells Fargo & Company boosted 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. Morgan Stanley reaffirmed an "overweight" rating and set a $490.00 price objective (up previously from $450.00) on shares of LPL Financial in a research report on Tuesday, July 15th. Finally, Citigroup lowered shares of LPL Financial from a "neutral" rating to a "sell" rating and set a $80.00 price objective for the company. in a research report on Wednesday, July 9th. Ten investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, LPL Financial currently has a consensus rating of "Moderate Buy" and a consensus price target of $383.58.

Insider Transactions at LPL Financial

In other LPL Financial news, Director Greg Gates sold 1,500 shares of the company's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $374.05, for a total transaction of $561,075.00. Following the sale, the director directly owned 19,120 shares of the company's stock, valued at approximately $7,151,836. This represents a 7.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.70% of the stock is owned by company insiders.

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.