Quantitative Investment Management LLC Invests $2.39 Million in LPL Financial Holdings Inc. $LPLA

Key Points

• Quantitative Investment Management LLC has made a new investment of approximately $2.39 million in LPL Financial Holdings Inc., acquiring 7,296 shares of the company in the first quarter.
• Several large investors are increasing their stakes in LPL Financial, with institutional ownership now at 95.66% of the company’s stock.
• LPL Financial reported earnings of $4.51 per share for the last quarter, surpassing analysts’ expectations, and announced a quarterly dividend of $0.30 per share, reflecting a yield of 0.3%.

Quantitative Investment Management LLC acquired a new stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 7,296 shares of the financial services provider's stock, valued at approximately $2,386,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Oliver Luxxe Assets LLC lifted its stake in shares of LPL Financial by 7.7% in the first quarter. Oliver Luxxe Assets LLC now owns 9,019 shares of the financial services provider's stock valued at $2,951,000 after buying an additional 646 shares during the period. Dodge & Cox lifted its position in shares of LPL Financial by 224.1% in the 1st quarter. Dodge & Cox now owns 1,523,460 shares of the financial services provider's stock worth $498,385,000 after acquiring an additional 1,053,351 shares during the period. Jump Financial LLC acquired a new stake in shares of LPL Financial during the 1st quarter worth approximately $330,000. SVB Wealth LLC acquired a new stake in shares of LPL Financial during the 1st quarter worth approximately $90,000. Finally, APG Asset Management N.V. increased its position in shares of LPL Financial by 478.1% during the first quarter. APG Asset Management N.V. now owns 257,260 shares of the financial services provider's stock valued at $77,912,000 after purchasing an additional 212,760 shares during the period. Institutional investors own 95.66% of the company's stock.

Insiders Place Their Bets

In other LPL Financial news, Director Greg Gates sold 1,500 shares of the company's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $374.05, for a total transaction of $561,075.00. Following the transaction, the director owned 19,120 shares of the company's stock, valued at approximately $7,151,836. This represents a 7.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is owned by company insiders.

LPL Financial Price Performance

Shares of LPLA stock traded down $1.30 during trading hours on Wednesday, hitting $366.00. 658,798 shares of the company's stock were exchanged, compared to its average volume of 886,424. LPL Financial Holdings Inc. has a 52 week low of $204.41 and a 52 week high of $403.58. The stock has a market cap of $29.28 billion, a price-to-earnings ratio of 25.03, a price-to-earnings-growth ratio of 0.86 and a beta of 0.66. 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's 50-day moving average is $372.56 and its 200-day moving average is $355.67.

LPL Financial (NASDAQ:LPLA - Get Free Report) last issued 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. The business had revenue of $3.84 billion for 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 firm's quarterly revenue was up 30.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.88 EPS. As a group, research analysts forecast that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Announces Dividend

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

Analyst Ratings Changes

Several research analysts recently commented on the company. Citigroup downgraded shares of LPL Financial from a "neutral" rating to a "sell" rating and set a $80.00 price target on the stock. in a research note on Wednesday, July 9th. Barclays raised their price objective on shares of LPL Financial from $460.00 to $463.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Keefe, Bruyette & Woods upped their target price on shares of LPL Financial from $425.00 to $435.00 and gave the company an "outperform" rating in a research note on Monday, August 4th. Redburn Atlantic raised shares of LPL Financial from a "neutral" rating to a "buy" rating and increased their price target for the stock from $420.00 to $460.00 in a research report on Monday, June 9th. Finally, JMP Securities raised 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. 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $383.58.

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.