Voya Investment Management LLC Has $11.36 Million Holdings in LPL Financial Holdings Inc. $LPLA

Key Points

• Voya Investment Management LLC increased its stake in LPL Financial Holdings Inc. by 4.9% in Q1, holding $11.36 million worth of shares.
• Major institutional investors like Vanguard and Dodge & Cox have also raised their holdings in LPL Financial, with institutional ownership reaching 95.66%.
• Despite a strong earnings report, LPL Financial's stock has received mixed reviews from analysts, with one downgrading it from "buy" to "sell" while others maintain positive outlooks and price targets around $391.67.

Voya Investment Management LLC raised its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 4.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 34,733 shares of the financial services provider's stock after acquiring an additional 1,611 shares during the period. Voya Investment Management LLC's holdings in LPL Financial were worth $11,363,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. DAVENPORT & Co LLC increased its position in shares of LPL Financial by 8.9% in the 1st quarter. DAVENPORT & Co LLC now owns 1,918 shares of the financial services provider's stock valued at $627,000 after buying an additional 156 shares in the last quarter. Merit Financial Group LLC increased its position in shares of LPL Financial by 195.1% in the 1st quarter. Merit Financial Group LLC now owns 3,341 shares of the financial services provider's stock valued at $1,093,000 after buying an additional 2,209 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in LPL Financial by 8.8% during the 1st quarter. JPMorgan Chase & Co. now owns 1,304,780 shares of the financial services provider's stock worth $426,846,000 after purchasing an additional 105,665 shares in the last quarter. Amalgamated Bank increased its holdings in LPL Financial by 3.8% during the 1st quarter. Amalgamated Bank now owns 5,875 shares of the financial services provider's stock worth $1,922,000 after purchasing an additional 213 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in LPL Financial by 2,319.1% during the 1st quarter. Blue Trust Inc. now owns 1,137 shares of the financial services provider's stock worth $372,000 after purchasing an additional 1,090 shares in the last quarter. Institutional investors own 95.66% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on LPLA shares. Wells Fargo & Company increased their target price on LPL Financial from $402.00 to $420.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Citigroup lowered LPL Financial from a "neutral" rating to a "sell" rating and set a $80.00 target price on the stock. in a report on Wednesday, July 9th. TD Cowen downgraded shares of LPL Financial from a "strong-buy" rating to a "hold" rating and cut their target price for the company from $406.00 to $403.00 in a research note on Wednesday, July 9th. Redburn Atlantic upgraded shares of LPL Financial from a "neutral" rating to a "buy" rating and raised their target price for the company from $420.00 to $460.00 in a research note on Monday, June 9th. Finally, Wall Street Zen downgraded shares of LPL Financial from a "buy" rating to a "hold" rating in a research note on Saturday, June 14th. Ten investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, LPL Financial currently has an average rating of "Moderate Buy" and an average price target of $391.54.

LPL Financial Stock Performance

LPL Financial stock traded down $3.62 during trading hours on Friday, hitting $335.75. The company had a trading volume of 2,933,132 shares, compared to its average volume of 826,871. LPL Financial Holdings Inc. has a one year low of $214.57 and a one year high of $403.58. The firm has a 50-day moving average of $363.42 and a 200 day moving average of $353.31. The firm has a market cap of $26.86 billion, a PE ratio of 22.97, a PEG ratio of 0.79 and a beta of 0.66. The company has a debt-to-equity ratio of 1.41, a current ratio of 3.22 and a quick ratio of 3.22.

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

LPL Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.20 annualized dividend and a dividend yield of 0.4%. LPL Financial's dividend payout ratio (DPR) is currently 8.21%.

Insider Activity at LPL Financial

In related news, Director Aneri Jambusaria sold 80 shares of LPL Financial stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $361.25, for a total value of $28,900.00. Following the transaction, the director directly owned 5,582 shares of the company's stock, valued at $2,016,497.50. This trade represents a 1.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Greg Gates sold 1,500 shares of LPL Financial 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 completion of the transaction, the director directly 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 disclosure for this sale can be found here. Insiders have sold 4,580 shares of company stock worth $1,671,235 over the last ninety days. Insiders own 1.30% of the company's stock.

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.