Silvant Capital Management LLC Purchases New Position in LPL Financial Holdings Inc. $LPLA

Key Points

• Silvant Capital Management bought 17,188 shares of LPL Financial in the second quarter, valued at approximately $4.84 million. Institutional investors and hedge funds collectively own 95.66% of the company.
• LPL Financial reported quarterly earnings of $5.84 per share, surpassing the $5.39 consensus estimate, while revenue rose 35.2% year over year to $5.19 billion.
• Analysts maintain a positive outlook, with a consensus “Moderate Buy” rating and an average price target of $406.69. The company also declared a quarterly dividend of $0.30 per share, representing a 0.3% yield.

Silvant Capital Management LLC purchased a new stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 17,188 shares of the financial services provider's stock, valued at approximately $4,842,000.

Several other hedge funds have also recently bought and sold shares of LPLA. Goldstein Advisors LLC grew its position in shares of LPL Financial by 4.8% in the fourth quarter. Goldstein Advisors LLC now owns 634 shares of the financial services provider's stock valued at $226,000 after purchasing an additional 29 shares during the last quarter. Coastal Bridge Advisors LLC lifted its holdings in LPL Financial by 0.6% during the 4th quarter. Coastal Bridge Advisors LLC now owns 5,475 shares of the financial services provider's stock worth $1,956,000 after purchasing an additional 31 shares during the last quarter. Root Financial Partners LLC boosted its stake in LPL Financial by 1.4% in the 4th quarter. Root Financial Partners LLC now owns 2,318 shares of the financial services provider's stock valued at $828,000 after purchasing an additional 33 shares during the period. Lifestyle Asset Management Inc. boosted its stake in LPL Financial by 2.9% in the 4th quarter. Lifestyle Asset Management Inc. now owns 1,191 shares of the financial services provider's stock valued at $425,000 after purchasing an additional 34 shares during the period. Finally, Bank of Nova Scotia grew its holdings in LPL Financial by 0.7% in the 1st quarter. Bank of Nova Scotia now owns 5,705 shares of the financial services provider's stock valued at $1,716,000 after buying an additional 37 shares in the last quarter. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at LPL Financial

In other news, Director Matthew Enyedi sold 1,000 shares of the business's stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $352.72, for a total value of $352,720.00. Following the completion of the transaction, the director directly owned 13,121 shares in the company, valued at approximately $4,628,039.12. The trade was a 7.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Aneri Jambusaria sold 308 shares of the company's stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $306.00, for a total transaction of $94,248.00. Following the sale, the director directly owned 6,415 shares of the company's stock, valued at approximately $1,962,990. This trade represents a 4.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. William Blair reiterated an "outperform" rating on shares of LPL Financial in a research report on Thursday, June 4th. TD Cowen boosted their target price on shares of LPL Financial from $330.00 to $372.00 and gave the company a "hold" rating in a research report on Friday, July 31st. Barclays upped their price target on shares of LPL Financial from $394.00 to $401.00 and gave the company an "overweight" rating in a research note on Friday, July 31st. BMO Capital Markets raised their price target on shares of LPL Financial from $300.00 to $390.00 and gave the stock an "outperform" rating in a research report on Monday, August 3rd. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of LPL Financial in a report on Friday, July 24th. Twelve equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $406.69.

LPL Financial Price Performance

LPL Financial stock opened at $354.02 on Friday. The firm has a market cap of $27.88 billion, a PE ratio of 28.23, a price-to-earnings-growth ratio of 0.60 and a beta of 0.48. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.39 and a quick ratio of 2.39. The stock's fifty day moving average price is $325.27 and its two-hundred day moving average price is $315.54. LPL Financial Holdings Inc. has a one year low of $260.15 and a one year high of $400.16.

LPL Financial (NASDAQ:LPLA - Get Free Report) last released its earnings results on Thursday, July 30th. The financial services provider reported $5.84 earnings per share for the quarter, beating analysts' consensus estimates of $5.39 by $0.45. LPL Financial had a return on equity of 32.20% and a net margin of 5.13%.The firm had revenue of $5.19 billion during the quarter, compared to the consensus estimate of $5.04 billion. During the same period in the prior year, the company posted $4.51 EPS. The company's revenue was up 35.2% compared to the same quarter last year. As a group, research analysts expect that LPL Financial Holdings Inc. will post 24.09 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.20 annualized dividend and a yield of 0.3%. LPL Financial's dividend payout ratio is currently 9.57%.

LPL Financial Company Profile

LPL Financial NASDAQ: LPLA is a U.S.-focused financial services firm that provides brokerage, custodial and advisory platforms to independent financial advisors, registered investment advisers and institutions. Operating primarily as an independent broker-dealer and custodian, the company supports a network of advisors with the operational, compliance and clearing infrastructure needed to manage client accounts and deliver investment advice outside of traditional wirehouse models.

The firm's product and service offerings include trade execution and clearing, custody services, retirement plan services, model portfolio and advisory platforms, wealth management technology, investment research and product access across equities, fixed income, mutual funds, exchange-traded funds and insurance and annuity solutions.

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