Vanguard Group Inc. Has $2.41 Billion Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Key Points

• Vanguard Group Inc. increased its stake in LPL Financial Holdings Inc. by 2.1%, now owning approximately 9.29% of the company, valued at around $2.41 billion.
• LPL Financial reported earnings of $4.51 EPS for the latest quarter, exceeding analyst expectations, with revenues of $3.84 billion, representing a year-over-year growth of 30.8%.
• The company announced a quarterly dividend of $0.30, with an annualized yield of 0.3%, set to be paid on August 29th, following an approval date of August 15th for shareholders.

Vanguard Group Inc. lifted its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 2.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,372,857 shares of the financial services provider's stock after purchasing an additional 154,200 shares during the quarter. Vanguard Group Inc. owned approximately 9.29% of LPL Financial worth $2,411,956,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Millstone Evans Group LLC grew its holdings 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 purchasing an additional 48 shares in the last quarter. Private Trust Co. NA lifted its position in shares of 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 buying an additional 68 shares during the period. MassMutual Private Wealth & Trust FSB lifted its position in shares of 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 buying an additional 39 shares during the period. City Holding Co. bought a new position in shares of LPL Financial during the 1st quarter worth approximately $34,000. Finally, TCTC Holdings LLC lifted its position in shares of LPL Financial by 116.7% during the 1st quarter. TCTC Holdings LLC now owns 104 shares of the financial services provider's stock worth $34,000 after buying an additional 56 shares during the period. Institutional investors and hedge funds own 95.66% of the company's stock.

LPL Financial Trading Up 0.3%

Shares of LPLA opened at $369.84 on Friday. The stock has a fifty day moving average price of $377.68 and a two-hundred day moving average price of $355.84. The company has a market cap of $29.59 billion, a price-to-earnings ratio of 25.30, a PEG ratio of 0.86 and a beta of 0.66. LPL Financial Holdings Inc. has a 52-week low of $193.22 and a 52-week high of $403.58. The company has a debt-to-equity ratio of 1.41, a quick ratio of 2.31 and a current ratio of 3.22.

LPL Financial (NASDAQ:LPLA - Get Free Report) last released its earnings results 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. The company had revenue of $3.84 billion during the quarter, compared to analysts' expectations of $3.77 billion. LPL Financial had a return on equity of 39.80% and a net margin of 7.91%. The business's revenue for the quarter was up 30.8% on a year-over-year basis. During the same period last year, the firm earned $3.88 EPS. Analysts predict that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend 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 8.21%.

Insider Activity at LPL Financial

In other news, Director Greg Gates sold 1,500 shares of LPL Financial stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $374.05, for a total value of $561,075.00. Following the completion of the sale, the director directly owned 19,120 shares of the company's stock, valued at approximately $7,151,836. This trade represents a 7.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.30% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on LPLA. TD Cowen downgraded LPL Financial from a "strong-buy" rating to a "hold" rating and cut their target price for the stock from $406.00 to $403.00 in a research report on Wednesday, July 9th. Keefe, Bruyette & Woods raised their target price on LPL Financial from $425.00 to $435.00 and gave the stock an "outperform" rating in a research report on Monday, August 4th. Redburn Atlantic upgraded LPL Financial from a "neutral" rating to a "buy" rating and raised their target price for the stock from $420.00 to $460.00 in a research report on Monday, June 9th. Morgan Stanley restated 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. Finally, Citigroup downgraded 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. One analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $383.58.

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.

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