Point72 Europe London LLP Has $6.54 Million Stock Holdings in LPL Financial Holdings Inc. $LPLA

Key Points

• Point72 Europe London LLP reduced its holdings in LPL Financial by 35.5%, selling 11,000 shares, leaving it with approximately 19,996 shares valued at $6,541,000.
• Other institutional investors, such as Dodge & Cox and Principal Financial Group Inc., significantly increased their stakes in LPL Financial, indicating strong interest and confidence in the company.
• LPL Financial reported a 30.8% year-over-year revenue increase for the last quarter, exceeding analysts' expectations with a revenue of $3.84 billion and earnings per share of $4.51.

Point72 Europe London LLP lowered its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 35.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,996 shares of the financial services provider's stock after selling 11,000 shares during the period. Point72 Europe London LLP's holdings in LPL Financial were worth $6,541,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Beacon Pointe Advisors LLC boosted its position in shares of LPL Financial by 26.1% in the fourth quarter. Beacon Pointe Advisors LLC now owns 1,449 shares of the financial services provider's stock worth $473,000 after buying an additional 300 shares during the period. Northern Trust Corp raised its position in LPL Financial by 14.3% during the fourth quarter. Northern Trust Corp now owns 491,145 shares of the financial services provider's stock valued at $160,364,000 after buying an additional 61,551 shares during the period. Lido Advisors LLC raised its position in LPL Financial by 14.4% during the fourth quarter. Lido Advisors LLC now owns 1,739 shares of the financial services provider's stock valued at $568,000 after buying an additional 219 shares during the period. Itau Unibanco Holding S.A. acquired a new position in LPL Financial during the fourth quarter valued at $42,000. Finally, ArrowMark Colorado Holdings LLC raised its position in LPL Financial by 15.0% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 38,256 shares of the financial services provider's stock valued at $12,491,000 after buying an additional 5,000 shares during the period. Institutional investors own 95.66% of the company's stock.

Insider Activity

In related news, Director Greg Gates sold 1,500 shares of the stock in a transaction dated 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 transaction, the director owned 19,120 shares of the company's stock, valued at $7,151,836. This represents a 7.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Aneri Jambusaria sold 80 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $361.25, for a total transaction of $28,900.00. Following the completion of the transaction, the director directly owned 5,582 shares of the company's stock, valued at $2,016,497.50. This trade represents a 1.41% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,080 shares of company stock valued at $1,163,920. 0.70% of the stock is owned by corporate insiders.

LPL Financial Stock Performance

Shares of NASDAQ LPLA traded up $3.71 during mid-day trading on Thursday, hitting $360.04. The company had a trading volume of 611,694 shares, compared to its average volume of 802,772. 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 business's 50-day simple moving average is $371.85 and its 200-day simple moving average is $355.47. LPL Financial Holdings Inc. has a 12 month low of $204.41 and a 12 month high of $403.58. The firm has a market cap of $28.80 billion, a P/E ratio of 24.63, a PEG ratio of 0.85 and a beta of 0.66.

LPL Financial (NASDAQ:LPLA - Get Free Report) last released its earnings results on Thursday, July 31st. The financial services provider reported $4.51 earnings per share 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 39.80%. The business had revenue of $3.84 billion during the quarter, compared to analysts' expectations of $3.77 billion. During the same quarter last year, the company earned $3.88 earnings per share. The firm's revenue was up 30.8% on a year-over-year basis. As a group, analysts predict 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 was paid on Friday, August 29th. Investors of record on Friday, August 15th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Friday, August 15th. LPL Financial's dividend payout ratio (DPR) is presently 8.21%.

Analyst Ratings Changes

LPLA has been the topic of several recent analyst reports. 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. Keefe, Bruyette & Woods upped their price target on LPL Financial from $425.00 to $435.00 and gave the company an "outperform" rating in a research report on Monday, August 4th. JMP Securities upped their price target on shares of LPL Financial from $420.00 to $440.00 and gave the stock a "market outperform" rating in a research note on Friday, May 9th. TD Cowen downgraded shares of LPL Financial from a "strong-buy" rating to a "hold" rating and dropped their price target for the stock from $406.00 to $403.00 in a research note on Wednesday, July 9th. Finally, Wells Fargo & Company upped their price target on shares of LPL Financial from $402.00 to $420.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Ten equities research 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. According to data from MarketBeat.com, LPL Financial currently has an average rating of "Moderate Buy" and a consensus price target of $383.33.

LPL Financial Company 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.