LPL Financial Holdings Inc. $LPLA Stock Position Raised by UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC

Key Points

• UBS AM increased its position in LPL Financial Holdings by 4.5%, acquiring a total of 607,561 shares worth approximately $198.76 million by the end of the last quarter.
• LPL Financial reported a quarterly EPS of $4.51, surpassing estimates, with a revenue of $3.84 billion, reflecting a 30.8% year-over-year increase.
• Wall Street analysts maintain a consensus rating of "Moderate Buy" for LPL Financial, with a target price averaging $383.33.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 4.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 607,561 shares of the financial services provider's stock after buying an additional 25,916 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 0.76% of LPL Financial worth $198,758,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Woodline Partners LP purchased a new position in LPL Financial in the 1st quarter valued at about $1,636,000. Voleon Capital Management LP boosted its position in LPL Financial by 87.6% in the 1st quarter. Voleon Capital Management LP now owns 13,056 shares of the financial services provider's stock valued at $4,271,000 after buying an additional 6,096 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in LPL Financial by 0.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 209,126 shares of the financial services provider's stock valued at $68,414,000 after buying an additional 1,089 shares during the last quarter. Jones Financial Companies Lllp boosted its position in LPL Financial by 34,155.8% in the 1st quarter. Jones Financial Companies Lllp now owns 47,273 shares of the financial services provider's stock valued at $15,465,000 after buying an additional 47,135 shares during the last quarter. Finally, Palestra Capital Management LLC boosted its position in LPL Financial by 21.6% in the 1st quarter. Palestra Capital Management LLC now owns 399,210 shares of the financial services provider's stock valued at $130,598,000 after buying an additional 70,924 shares during the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at LPL Financial

In related news, Director Greg Gates sold 1,500 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The shares were 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 in the company, valued at $7,151,836. This trade represents a 7.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Aneri Jambusaria sold 80 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $361.25, for a total transaction of $28,900.00. Following the transaction, the director owned 5,582 shares in the company, valued at $2,016,497.50. This represents a 1.41% decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,580 shares of company stock worth $1,671,235 in the last three months. 0.70% of the stock is currently owned by corporate insiders.

LPL Financial Stock Performance

NASDAQ LPLA traded up $2.93 during trading hours on Friday, reaching $350.64. The company's stock had a trading volume of 589,143 shares, compared to its average volume of 775,062. The company has a current ratio of 3.22, a quick ratio of 3.22 and a debt-to-equity ratio of 1.41. The business has a 50-day simple moving average of $367.68 and a 200 day simple moving average of $353.93. LPL Financial Holdings Inc. has a 52 week low of $205.50 and a 52 week high of $403.58. The stock has a market cap of $28.05 billion, a PE ratio of 23.98, a PEG ratio of 0.82 and a beta of 0.66.

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

LPL Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were issued a $0.30 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.20 dividend on an annualized basis and a yield of 0.3%. LPL Financial's dividend payout ratio (DPR) is currently 8.21%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Citigroup cut shares of LPL Financial from a "neutral" rating to a "sell" rating and set a $80.00 price objective for the company. in a research report on Wednesday, July 9th. The Goldman Sachs Group assumed coverage on shares of LPL Financial in a research report on Friday. They set a "buy" rating and a $405.00 price target on the stock. 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. TD Cowen cut shares of LPL Financial from a "strong-buy" rating to a "hold" rating and reduced their price target for the stock from $406.00 to $403.00 in a research report on Wednesday, July 9th. Finally, Wall Street Zen cut shares of LPL Financial from a "buy" rating to a "hold" rating in a research report on Saturday, June 14th. Ten equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $391.67.

About LPL Financial

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.