LPL Financial Holdings Inc. $LPLA Stock Position Raised by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP significantly increased its stake in LPL Financial Holdings by 337.1% during the first quarter, acquiring an additional 507,923 shares to reach a total of 658,593 shares valued at approximately $215 million.
• LPL Financial announced a quarterly dividend of $0.30 per share, representing an annualized yield of 0.3%, with the dividend payout ratio currently at 8.21%.
• Institutional investors collectively own 95.66% of LPL Financial's stock, reflecting strong interest from major financial entities and several recent large acquisitions by various investment firms.

Wellington Management Group LLP boosted its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 337.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 658,593 shares of the financial services provider's stock after buying an additional 507,923 shares during the period. Wellington Management Group LLP owned 0.83% of LPL Financial worth $215,452,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Summit Securities Group LLC bought a new position in LPL Financial in the 1st quarter worth approximately $26,000. Millstone Evans Group LLC boosted its position in 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 acquiring an additional 48 shares during the period. Private Trust Co. NA grew its stake in shares of LPL Financial by 234.5% in the first quarter. Private Trust Co. NA now owns 97 shares of the financial services provider's stock worth $32,000 after purchasing an additional 68 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in shares of LPL Financial by 63.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 100 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 39 shares in the last quarter. Finally, City Holding Co. bought a new stake in shares of LPL Financial during the first quarter valued at about $34,000. Institutional investors own 95.66% of the company's stock.

Insiders Place Their Bets

In other LPL Financial news, Director Greg Gates sold 1,500 shares of LPL Financial stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $374.05, for a total transaction of $561,075.00. Following the transaction, the director owned 19,120 shares of the company's stock, valued at $7,151,836. The trade was a 7.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.30% of the stock is currently owned by company insiders.

LPL Financial Trading Up 0.3%

LPLA stock traded up $1.20 during mid-day trading on Friday, reaching $362.44. 911,182 shares of the stock traded hands, compared to its average volume of 898,482. LPL Financial Holdings Inc. has a 52-week low of $204.41 and a 52-week high of $403.58. The stock's fifty day moving average is $373.43 and its 200-day moving average is $355.68. The company has a market cap of $29.00 billion, a P/E ratio of 24.79, a P/E/G ratio of 0.85 and a beta of 0.66. The company has a current ratio of 3.22, a quick ratio of 3.22 and a debt-to-equity ratio of 1.41.

LPL Financial (NASDAQ:LPLA - Get Free Report) last issued its quarterly 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. LPL Financial had a net margin of 7.91% and a return on equity of 39.80%. The business had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter in the prior year, the firm earned $3.88 EPS. The firm's quarterly revenue was up 30.8% on a year-over-year basis. As a group, sell-side analysts expect that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Announces Dividend

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

Analysts Set New Price Targets

Several research firms have commented on LPLA. Wall Street Zen cut shares of LPL Financial from a "buy" rating to a "hold" rating in a research note on Saturday, June 14th. Redburn Atlantic raised LPL Financial from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $420.00 to $460.00 in a report on Monday, June 9th. 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. Citigroup cut LPL Financial from a "neutral" rating to a "sell" rating and set a $80.00 price target on the stock. in a research report on Wednesday, July 9th. Finally, JMP Securities upped their price objective on LPL Financial from $420.00 to $440.00 and gave the company a "market outperform" rating in a report on Friday, May 9th. Ten research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target 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.