US Bancorp DE Purchases 941 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

US Bancorp DE grew its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 4.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,035 shares of the financial services provider's stock after purchasing an additional 941 shares during the quarter. US Bancorp DE's holdings in LPL Financial were worth $6,883,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in LPLA. National Bank of Canada FI raised its holdings in LPL Financial by 300.5% in the 4th quarter. National Bank of Canada FI now owns 1,462 shares of the financial services provider's stock worth $477,000 after purchasing an additional 1,097 shares in the last quarter. Thoroughbred Financial Services LLC raised its holdings in LPL Financial by 10.7% in the 4th quarter. Thoroughbred Financial Services LLC now owns 1,504 shares of the financial services provider's stock worth $491,000 after purchasing an additional 145 shares in the last quarter. Prudential PLC raised its holdings in LPL Financial by 109.6% in the 4th quarter. Prudential PLC now owns 5,757 shares of the financial services provider's stock worth $1,880,000 after purchasing an additional 3,010 shares in the last quarter. Resona Asset Management Co. Ltd. bought a new position in LPL Financial in the 4th quarter worth $7,360,000. Finally, Perennial Investment Advisors LLC bought a new position in LPL Financial in the 4th quarter worth $253,000. 95.66% of the stock is currently owned by institutional investors.

LPL Financial Stock Performance

Shares of LPLA stock opened at $374.57 on Tuesday. LPL Financial Holdings Inc. has a one year low of $187.19 and a one year high of $403.58. The company's 50-day moving average is $378.57 and its 200 day moving average is $355.27. The company has a market capitalization of $29.96 billion, a price-to-earnings ratio of 25.62, a price-to-earnings-growth ratio of 0.90 and a beta of 0.66. The company has a debt-to-equity ratio of 1.82, a quick ratio of 2.31 and a current ratio of 2.31.

LPL Financial (NASDAQ:LPLA - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The financial services provider reported $4.51 EPS for the quarter, beating the consensus estimate of $4.21 by $0.30. LPL Financial had a net margin of 7.91% and a return on equity of 47.01%. The company had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same period in the prior year, the firm posted $3.88 EPS. LPL Financial's revenue for the quarter was up 30.8% on a year-over-year basis. Sell-side analysts expect that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, August 15th. LPL Financial's dividend payout ratio (DPR) is presently 8.21%.

Analyst Upgrades and Downgrades

LPLA has been the subject of several research reports. Barclays upped their price objective on shares of LPL Financial from $460.00 to $463.00 and gave the stock an "overweight" rating in a report on Friday. Wall Street Zen lowered shares of LPL Financial from a "buy" rating to a "hold" rating in a research note on Saturday, June 14th. Keefe, Bruyette & Woods increased their price target on shares of LPL Financial from $425.00 to $435.00 and gave the stock an "outperform" rating in a research note on Monday. Wells Fargo & Company increased their price target on shares of LPL Financial from $402.00 to $420.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Finally, JMP Securities increased their price target on shares of LPL Financial from $420.00 to $440.00 and gave the stock a "market outperform" rating in a research note on Friday, May 9th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $383.58.

Insider Activity

In other news, Director Greg Gates sold 1,500 shares of the firm's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $382.63, for a total transaction of $573,945.00. Following the sale, the director owned 20,620 shares of the company's stock, valued at $7,889,830.60. This trade represents a 6.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.30% of the stock is currently owned by insiders.

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.

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