US Bancorp DE Has $6.88 Million Stock Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Key Points

• US Bancorp DE increased its holdings in LPL Financial Holdings by 4.7%, acquiring an additional 941 shares during the first quarter, bringing their total to 21,035 shares valued at approximately $6.88 million.
• Other major institutional investors have also significantly boosted their positions in LPL Financial, with Principal Financial Group raising their shares by 1,453.3% during the same period.
• LPL Financial reported $4.51 earnings per share for the latest quarter, exceeding analysts' estimates by $0.30, and announced a quarterly $0.30 dividend set to be paid on August 29th.

US Bancorp DE boosted its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 4.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,035 shares of the financial services provider's stock after buying an additional 941 shares during the quarter. US Bancorp DE's holdings in LPL Financial were worth $6,883,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Millstone Evans Group LLC lifted its holdings in LPL Financial by 123.1% in the first quarter. Millstone Evans Group LLC now owns 87 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 48 shares during the period. Private Trust Co. NA lifted 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 stake in LPL Financial by 63.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 100 shares of the financial services provider's stock worth $33,000 after acquiring an additional 39 shares in the last quarter. City Holding Co. acquired a new position in LPL Financial during the 1st quarter worth about $34,000. Finally, TCTC Holdings LLC raised its position in LPL Financial by 116.7% in the 1st quarter. TCTC Holdings LLC now owns 104 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 56 shares in the last quarter. 95.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

LPLA has been the topic of several research analyst reports. Morgan Stanley reissued an "overweight" rating and set a $490.00 target price (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 target on the stock. in a research note on Wednesday, July 9th. Wall Street Zen downgraded LPL Financial from a "buy" rating to a "hold" rating in a research report on Saturday, June 14th. TD Cowen downgraded LPL Financial from a "strong-buy" rating to a "hold" rating and lowered their price target for the company from $406.00 to $403.00 in a research report on Wednesday, July 9th. Finally, Keefe, Bruyette & Woods increased their target price on LPL Financial from $425.00 to $435.00 and gave the company an "outperform" rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $383.58.

LPL Financial Stock Performance

NASDAQ LPLA traded up $0.48 during trading on Friday, hitting $369.33. The company's stock had a trading volume of 254,269 shares, compared to its average volume of 817,742. LPL Financial Holdings Inc. has a 52 week low of $193.22 and a 52 week high of $403.58. The company has a quick ratio of 2.31, a current ratio of 3.22 and a debt-to-equity ratio of 1.41. The firm has a market cap of $29.55 billion, a P/E ratio of 25.31, a price-to-earnings-growth ratio of 0.89 and a beta of 0.66. The firm has a 50 day moving average price of $377.98 and a 200 day moving average price of $355.70.

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

LPL Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.20 annualized dividend and a yield of 0.3%. LPL Financial's dividend payout ratio is currently 8.21%.

Insider Transactions at LPL Financial

In other LPL Financial news, Director Greg Gates sold 1,500 shares of the company's stock in a transaction 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 completion of the sale, the director owned 19,120 shares in the company, valued at approximately $7,151,836. The trade was a 7.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.30% of the company's stock.

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.