Siren L.L.C. Makes New Investment in LPL Financial Holdings Inc. $LPLA

Key Points

• Siren L.L.C. acquired a new stake in LPL Financial Holdings Inc., purchasing 7,500 shares valued at approximately $2,454,000 in the first quarter.
• Multiple large investors, including Dodge & Cox and Principal Financial Group Inc., significantly increased their holdings in LPL Financial, indicating strong institutional interest in the company.
• In recent analyst coverage, Citigroup downgraded LPL Financial to a "sell" rating while Wells Fargo and others set target prices above $400, reflecting varied market sentiment on the stock.

Siren L.L.C. purchased a new stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 7,500 shares of the financial services provider's stock, valued at approximately $2,454,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of LPLA. Cetera Investment Advisers increased its stake in LPL Financial by 1.4% in the fourth quarter. Cetera Investment Advisers now owns 14,653 shares of the financial services provider's stock worth $4,784,000 after purchasing an additional 201 shares during the period. Focus Partners Wealth increased its stake in shares of LPL Financial by 13.9% during the fourth quarter. Focus Partners Wealth now owns 3,887 shares of the financial services provider's stock valued at $1,269,000 after buying an additional 473 shares during the period. Pathstone Holdings LLC increased its stake in shares of LPL Financial by 0.8% during the fourth quarter. Pathstone Holdings LLC now owns 36,610 shares of the financial services provider's stock valued at $11,954,000 after buying an additional 276 shares during the period. Quantinno Capital Management LP increased its stake in shares of LPL Financial by 5.2% during the fourth quarter. Quantinno Capital Management LP now owns 15,139 shares of the financial services provider's stock valued at $4,943,000 after buying an additional 745 shares during the period. Finally, ProShare Advisors LLC increased its stake in shares of LPL Financial by 9.8% during the fourth quarter. ProShare Advisors LLC now owns 1,100 shares of the financial services provider's stock valued at $359,000 after buying an additional 98 shares during the period. Hedge funds and other institutional investors own 95.66% of the company's stock.

LPL Financial Price Performance

Shares of LPL Financial stock traded up $2.93 on Friday, reaching $350.64. The company's stock had a trading volume of 589,143 shares, compared to its average volume of 770,953. The company has a quick ratio of 3.22, a current ratio of 3.22 and a debt-to-equity ratio of 1.41. The company has a market capitalization of $28.05 billion, a P/E ratio of 23.98, a PEG ratio of 0.81 and a beta of 0.66. The stock has a 50-day moving average price of $367.68 and a 200-day moving average price of $353.98. LPL Financial Holdings Inc. has a 52-week low of $205.50 and a 52-week high of $403.58.

LPL Financial (NASDAQ:LPLA - Get Free Report) last announced its earnings results on Thursday, July 31st. The financial services provider reported $4.51 earnings per share for the quarter, topping the consensus estimate of $4.21 by $0.30. The business had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.77 billion. LPL Financial had a return on equity of 39.80% and a net margin of 7.91%.The business's quarterly revenue was up 30.8% on a year-over-year basis. During the same period in the prior year, the company posted $3.88 EPS. Analysts expect that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Dividend Announcement

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

Insider Activity at LPL Financial

In other news, Director Aneri Jambusaria sold 80 shares of the company's stock in a transaction that occurred on 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 represents a 1.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Greg Gates sold 1,500 shares of the business's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $374.05, for a total value of $561,075.00. Following the sale, the director owned 19,120 shares of the company's stock, valued at $7,151,836. The trade was a 7.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,580 shares of company stock valued at $1,671,235. Corporate insiders own 1.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on LPLA. 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. Citigroup downgraded LPL Financial from a "neutral" rating to a "sell" rating and set a $80.00 price objective on the stock. in a research report on Wednesday, July 9th. TD Cowen downgraded LPL Financial from a "strong-buy" rating to a "hold" rating and lowered their price target for the stock from $406.00 to $403.00 in a report on Wednesday, July 9th. The Goldman Sachs Group began coverage on LPL Financial in a report on Friday. They set a "buy" rating and a $405.00 target price for the company. Finally, Keefe, Bruyette & Woods lifted their target price on LPL Financial from $425.00 to $435.00 and gave the stock an "outperform" rating in a report on Monday, August 4th. Ten research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, LPL Financial has an average rating of "Moderate Buy" and a consensus price target of $391.67.

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.