Winmill & CO. Inc. Takes Position in LPL Financial Holdings Inc. $LPLA

Key Points

• Winmill & CO. Inc. bought 46,500 shares of LPL Financial during the second quarter, valued at approximately $13.1 million and representing 2.9% of its portfolio. Institutional investors collectively own 95.66% of LPL Financial.
• LPL Financial beat quarterly expectations, reporting $5.84 in EPS and $5.19 billion in revenue, with revenue up 35.2% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $406.69.
• The company declared a quarterly dividend of $0.30 per share, equivalent to a $1.20 annualized payout and a 0.3% yield. Several insiders sold shares recently, though the transactions were conducted under pre-arranged Rule 10b5-1 plans.

Winmill & CO. Inc. purchased a new position in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 46,500 shares of the financial services provider's stock, valued at approximately $13,098,000. LPL Financial accounts for about 2.9% of Winmill & CO. Inc.'s investment portfolio, making the stock its 14th biggest position. Winmill & CO. Inc. owned about 0.06% of LPL Financial at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cibc World Market Inc. purchased a new position in LPL Financial during the second quarter worth about $2,791,000. OMERS ADMINISTRATION Corp bought a new position in LPL Financial in the 2nd quarter worth about $1,255,000. Osmosis Investment Management UK Ltd purchased a new stake in shares of LPL Financial in the 2nd quarter valued at about $539,000. Sanctuary Advisors LLC purchased a new stake in shares of LPL Financial in the 2nd quarter valued at about $2,789,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of LPL Financial in the 2nd quarter valued at about $4,025,000. Hedge funds and other institutional investors own 95.66% of the company's stock.

Wall Street Analysts Forecast Growth

LPLA has been the subject of several recent analyst reports. Keefe, Bruyette & Woods boosted their price objective on LPL Financial from $365.00 to $390.00 and gave the stock an "outperform" rating in a report on Friday, July 31st. UBS Group lowered their target price on shares of LPL Financial from $395.00 to $391.00 and set a "buy" rating on the stock in a research note on Wednesday, July 8th. TD Cowen lifted their target price on shares of LPL Financial from $330.00 to $372.00 and gave the company a "hold" rating in a research report on Friday, July 31st. Barclays boosted their price target on shares of LPL Financial from $394.00 to $401.00 and gave the stock an "overweight" rating in a research note on Friday, July 31st. Finally, BMO Capital Markets raised their price objective on shares of LPL Financial from $300.00 to $390.00 and gave the company an "outperform" rating in a research report on Monday, August 3rd. Twelve research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $406.69.

LPL Financial Stock Performance

LPL Financial stock opened at $361.35 on Monday. The company has a quick ratio of 2.39, a current ratio of 2.39 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $28.45 billion, a PE ratio of 28.82, a P/E/G ratio of 0.61 and a beta of 0.48. The firm has a fifty day simple moving average of $326.58 and a two-hundred day simple moving average of $315.44. LPL Financial Holdings Inc. has a twelve month low of $260.15 and a twelve month high of $400.16.

LPL Financial (NASDAQ:LPLA - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The financial services provider reported $5.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.39 by $0.45. LPL Financial had a return on equity of 32.20% and a net margin of 5.13%.The firm had revenue of $5.19 billion for the quarter, compared to analysts' expectations of $5.04 billion. During the same period last year, the firm earned $4.51 earnings per share. The company's revenue for the quarter was up 35.2% compared to the same quarter last year. Research analysts expect that LPL Financial Holdings Inc. will post 24.09 EPS for the current year.

LPL Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Friday, August 14th. LPL Financial's payout ratio is 9.57%.

Insiders Place Their Bets

In other LPL Financial news, Director Matthew Enyedi sold 1,000 shares of the business's stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $352.72, for a total value of $352,720.00. Following the completion of the sale, the director owned 13,121 shares in the company, valued at approximately $4,628,039.12. The trade was a 7.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Aneri Jambusaria sold 308 shares of the business's stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $306.00, for a total value of $94,248.00. Following the completion of the sale, the director owned 6,415 shares of the company's stock, valued at $1,962,990. The trade was a 4.58% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 5,427 shares of company stock valued at $1,910,778 in the last ninety days. Company insiders own 0.60% of the company's stock.

LPL Financial Company Profile

LPL Financial NASDAQ: LPLA is a U.S.-focused financial services firm that provides brokerage, custodial and advisory platforms to independent financial advisors, registered investment advisers and institutions. Operating primarily as an independent broker-dealer and custodian, the company supports a network of advisors with the operational, compliance and clearing infrastructure needed to manage client accounts and deliver investment advice outside of traditional wirehouse models.

The firm's product and service offerings include trade execution and clearing, custody services, retirement plan services, model portfolio and advisory platforms, wealth management technology, investment research and product access across equities, fixed income, mutual funds, exchange-traded funds and insurance and annuity solutions.

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