LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Acquired by PNC Financial Services Group Inc.

Key Points

• PNC Financial Services Group Inc. has raised its stake in LPL Financial Holdings Inc. by **45.2%**, now owning **7,110 shares** valued at approximately **$2.33 million**.
• LPL Financial reported a **$4.51 EPS** for the last quarter, exceeding estimates, with a **30.8%** year-over-year revenue growth.
• The company announced a quarterly dividend of **$0.30 per share**, equating to an annual yield of **0.3%**, payable on August 29th.

PNC Financial Services Group Inc. grew its position in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 45.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,110 shares of the financial services provider's stock after acquiring an additional 2,213 shares during the quarter. PNC Financial Services Group Inc.'s holdings in LPL Financial were worth $2,326,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also 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 LPL Financial by 2.2% during the 4th 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 acquiring an additional 57,485 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in LPL Financial by 35.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,516,060 shares of the financial services provider's stock worth $495,964,000 after acquiring an additional 400,352 shares in the last quarter. Principal Financial Group Inc. grew its holdings in LPL Financial by 1,453.3% during the 1st 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 in the last quarter. Finally, Jennison Associates LLC grew its holdings in LPL Financial by 786.2% during the 1st quarter. Jennison Associates LLC now owns 959,371 shares of the financial services provider's stock worth $313,849,000 after acquiring an additional 851,115 shares in the last quarter. Hedge funds and other institutional investors own 95.66% of the company's stock.

Analysts Set New Price Targets

LPLA has been the topic of several recent research reports. Citigroup cut shares of LPL Financial from a "neutral" rating to a "sell" rating and set a $80.00 target price on the stock. in a report on Wednesday, July 9th. JMP Securities increased their target price on shares of LPL Financial from $420.00 to $440.00 and gave the stock a "market outperform" rating in a report on Friday, May 9th. TD Cowen cut shares of LPL Financial from a "strong-buy" rating to a "hold" rating and dropped their target price for the stock from $406.00 to $403.00 in a report on Wednesday, July 9th. Morgan Stanley reissued an "overweight" rating and set a $490.00 price target (up from $450.00) on shares of LPL Financial in a research report on Tuesday, July 15th. Finally, Wells Fargo & Company increased their price target on shares of LPL Financial from $402.00 to $420.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, LPL Financial has a consensus rating of "Moderate Buy" and a consensus price target of $383.58.

Insider Activity at LPL Financial

In other news, Director Greg Gates sold 1,500 shares of the firm'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 transaction of $561,075.00. Following the sale, the director owned 19,120 shares of the company's stock, valued at $7,151,836. This trade represents a 7.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.70% of the stock is owned by insiders.

LPL Financial Stock Performance

LPLA traded up $2.76 during trading on Tuesday, reaching $373.41. 592,020 shares of the company's stock were exchanged, compared to its average volume of 815,436. LPL Financial Holdings Inc. has a 1 year low of $198.87 and a 1 year high of $403.58. The company has a debt-to-equity ratio of 1.41, a current ratio of 3.22 and a quick ratio of 3.22. The stock has a market capitalization of $29.87 billion, a P/E ratio of 25.54, a price-to-earnings-growth ratio of 0.87 and a beta of 0.66. The company's fifty day simple moving average is $377.43 and its 200-day simple moving average is $355.88.

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 analysts' consensus estimates of $4.21 by $0.30. LPL Financial had a net margin of 7.91% and a return on equity of 39.80%. The company had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.77 billion. During the same period last year, the firm posted $3.88 EPS. LPL Financial's revenue for the quarter was up 30.8% compared to the same quarter last year. As a group, research analysts predict that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.3%. LPL Financial's dividend payout ratio (DPR) 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.