Skandinaviska Enskilda Banken AB publ Increases Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Key Points

• Skandinaviska Enskilda Banken AB increased its holdings in LPL Financial Holdings Inc. by 4.5% in Q1, owning 16,125 shares valued at approximately $5.28 million by the end of the reporting period.
• Analyst ratings for LPL Financial are mixed, with some downgrades, while others have raised price objectives, resulting in a current consensus rating of "Moderate Buy" and an average target price of $372.15.
• Following its latest earnings report, LPL Financial's Earnings Per Share (EPS) of $5.15 exceeded estimates, contributing to a 4.5% increase in revenue compared to the same quarter last year.

Skandinaviska Enskilda Banken AB publ lifted its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 4.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,125 shares of the financial services provider's stock after acquiring an additional 701 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in LPL Financial were worth $5,276,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Millstone Evans Group LLC lifted its position in shares of LPL Financial by 123.1% during the 1st quarter. Millstone Evans Group LLC now owns 87 shares of the financial services provider's stock worth $28,000 after buying an additional 48 shares during the last quarter. Private Trust Co. NA raised its stake in LPL Financial by 234.5% during the 1st quarter. Private Trust Co. NA now owns 97 shares of the financial services provider's stock worth $32,000 after acquiring an additional 68 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in LPL Financial by 63.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 100 shares of the financial services provider's stock valued at $33,000 after acquiring an additional 39 shares during the last quarter. City Holding Co. purchased a new stake in LPL Financial in the first quarter valued at $34,000. Finally, Fourth Dimension Wealth LLC purchased a new stake in LPL Financial in the fourth quarter valued at $40,000. 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 $5.63 during trading on Tuesday, hitting $390.67. 1,506,123 shares of the company were exchanged, compared to its average volume of 803,495. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 1.82. LPL Financial Holdings Inc. has a fifty-two week low of $187.19 and a fifty-two week high of $396.25. The stock has a market capitalization of $31.25 billion, a price-to-earnings ratio of 27.04, a P/E/G ratio of 0.93 and a beta of 0.64. The firm has a 50 day moving average price of $377.66 and a 200 day moving average price of $353.63.

LPL Financial (NASDAQ:LPLA - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The financial services provider reported $5.15 EPS for the quarter, topping the consensus estimate of $4.54 by $0.61. LPL Financial had a net margin of 8.23% and a return on equity of 46.34%. The firm had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.63 billion. During the same quarter in the prior year, the business posted $3.83 earnings per share. LPL Financial's revenue for the quarter was up 4.5% compared to the same quarter last year. On average, equities analysts expect 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 disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 30th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.20 annualized dividend and a dividend yield of 0.31%. LPL Financial's dividend payout ratio is presently 8.30%.

Insider Activity

In other news, Director Greg Gates sold 1,500 shares of the business's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $382.63, for a total transaction of $573,945.00. Following the completion of the sale, the director directly owned 20,620 shares of the company's stock, valued at $7,889,830.60. The trade was a 6.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on LPLA shares. Citigroup lowered LPL Financial from a "neutral" rating to a "sell" rating and set a $80.00 price objective on the stock. in a report on Wednesday, July 9th. Wells Fargo & Company raised their price objective on LPL Financial from $402.00 to $420.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. JMP Securities raised their price objective on LPL Financial from $420.00 to $440.00 and gave the stock a "market outperform" rating in a report on Friday, May 9th. 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 report on Tuesday, July 15th. Finally, TD Cowen lowered LPL Financial from a "strong-buy" rating to a "hold" rating and dropped their price objective for the stock from $406.00 to $403.00 in a report on Wednesday, July 9th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $372.15.

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.