UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 2.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 578,032 shares of the financial services provider's stock after selling 13,634 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.73% of LPL Financial worth $162,820,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Egerton Capital UK LLP acquired a new position in shares of LPL Financial during the fourth quarter worth $91,012,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in LPL Financial by 7.1% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 77,992 shares of the financial services provider's stock worth $28,204,000 after acquiring an additional 5,179 shares during the last quarter. Markel Group Inc. increased its holdings in LPL Financial by 1.2% in the 4th quarter. Markel Group Inc. now owns 559,951 shares of the financial services provider's stock worth $199,998,000 after purchasing an additional 6,630 shares in the last quarter. Norges Bank bought a new position in LPL Financial in the 4th quarter valued at approximately $371,616,000. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of LPL Financial by 56.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 158,783 shares of the financial services provider's stock valued at $56,713,000 after acquiring an additional 57,362 shares during the last quarter. Institutional investors own 95.66% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on LPLA. Weiss Ratings restated a "hold (c)" rating on shares of LPL Financial in a research report on Friday, July 24th. Barclays upped their price objective 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. JPMorgan Chase & Co. lifted their target price on shares of LPL Financial from $408.00 to $428.00 and gave the stock an "overweight" rating in a research note on Friday, July 31st. William Blair restated an "outperform" rating on shares of LPL Financial in a report on Thursday, June 4th. Finally, BMO Capital Markets upped their price target on shares of LPL Financial from $300.00 to $390.00 and gave the company an "outperform" rating in a research report on Monday, August 3rd. Twelve research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $405.79.
Check Out Our Latest Stock Report on LPL Financial
Insider Buying and Selling at LPL Financial
In other news, Director Greg Gates sold 4,119 shares of the firm's stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $355.38, for a total value of $1,463,810.22. Following the completion of the sale, the director directly owned 23,602 shares in the company, valued at $8,387,678.76. This trade represents a 14.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Aneri Jambusaria sold 308 shares of the business's stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $357.36, for a total value of $110,066.88. Following the completion of the sale, the director directly owned 6,107 shares of the company's stock, valued at $2,182,397.52. The trade was a 4.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 5,735 shares of company stock valued at $2,020,845. Corporate insiders own 0.60% of the company's stock.
LPL Financial Price Performance
Shares of LPLA opened at $357.63 on Wednesday. The firm has a market cap of $28.16 billion, a PE ratio of 28.52, a price-to-earnings-growth ratio of 0.62 and a beta of 0.48. LPL Financial Holdings Inc. has a 52-week low of $260.15 and a 52-week high of $400.16. The business's 50 day moving average price is $335.83 and its two-hundred day moving average price is $314.87. The company has a debt-to-equity ratio of 1.30, a quick ratio of 2.39 and a current ratio of 2.39.
LPL Financial (NASDAQ:LPLA - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The financial services provider reported $5.84 EPS for the quarter, topping the consensus estimate of $5.39 by $0.45. The company had revenue of $5.19 billion during the quarter, compared to the consensus estimate of $5.04 billion. LPL Financial had a net margin of 5.13% and a return on equity of 32.20%. The company's quarterly revenue was up 35.2% on a year-over-year basis. During the same quarter last year, the firm posted $4.51 EPS. On average, equities analysts anticipate that LPL Financial Holdings Inc. will post 24.09 EPS for the current year.
LPL Financial Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Friday, August 14th. LPL Financial's dividend payout ratio (DPR) is presently 9.57%.
About LPL Financial
(
Free Report)
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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