Yarbrough Capital LLC Takes $409,000 Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Yarbrough Capital LLC bought a new stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,880 shares of the financial services provider’s stock, valued at approximately $409,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. MCF Advisors LLC purchased a new position in shares of LPL Financial in the first quarter valued at $26,000. First Manhattan Co. acquired a new stake in LPL Financial during the 4th quarter valued at approximately $27,000. Janiczek Wealth Management LLC grew its stake in LPL Financial by 267.6% during the 2nd quarter. Janiczek Wealth Management LLC now owns 136 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 99 shares in the last quarter. Steward Financial Group LLC acquired a new stake in LPL Financial during the 4th quarter valued at approximately $37,000. Finally, Harbor Capital Advisors Inc. acquired a new stake in LPL Financial during the 2nd quarter valued at approximately $40,000. 92.84% of the stock is currently owned by hedge funds and other institutional investors.

LPL Financial Stock Performance

Shares of LPLA stock traded up $2.08 during trading hours on Tuesday, reaching $248.58. The stock had a trading volume of 232,120 shares, compared to its average volume of 794,665. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.74 and a quick ratio of 1.74. LPL Financial Holdings Inc. has a twelve month low of $179.00 and a twelve month high of $271.56. The firm has a 50-day simple moving average of $231.85 and a 200-day simple moving average of $214.42. The firm has a market capitalization of $18.97 billion, a PE ratio of 16.77, a price-to-earnings-growth ratio of 0.79 and a beta of 0.92.

LPL Financial (NASDAQ:LPLA) last announced its earnings results on Thursday, July 27th. The financial services provider reported $3.94 earnings per share for the quarter, beating the consensus estimate of $3.87 by $0.07. The firm had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.44 billion. LPL Financial had a return on equity of 59.52% and a net margin of 12.53%. The firm’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.24 EPS. As a group, equities analysts forecast that LPL Financial Holdings Inc. will post 16.33 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 25th. Shareholders of record on Friday, August 11th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend was Thursday, August 10th. LPL Financial’s payout ratio is currently 8.16%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on LPLA shares. Jefferies Financial Group boosted their target price on shares of LPL Financial from $246.00 to $253.00 in a research report on Monday, July 10th. Morgan Stanley boosted their target price on shares of LPL Financial from $238.00 to $243.00 and gave the stock an “equal weight” rating in a research report on Monday, July 31st. JMP Securities reaffirmed a “market outperform” rating and issued a $290.00 price objective on shares of LPL Financial in a report on Friday, August 18th. Barclays started coverage on shares of LPL Financial in a research note on Thursday, September 7th. They set an “overweight” rating and a $275.00 target price for the company. Finally, Citigroup raised their price target on shares of LPL Financial from $245.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, July 28th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $248.60.

Insider Transactions at LPL Financial

In other news, Director Matthew Enyedi sold 3,265 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $230.86, for a total value of $753,757.90. Following the completion of the sale, the director now directly owns 9,978 shares of the company’s stock, valued at approximately $2,303,521.08. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other LPL Financial news, Director Richard Steinmeier sold 10,300 shares of LPL Financial stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $242.68, for a total value of $2,499,604.00. Following the transaction, the director now owns 16,914 shares in the company, valued at $4,104,689.52. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Matthew Enyedi sold 3,265 shares of LPL Financial stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $230.86, for a total transaction of $753,757.90. Following the completion of the transaction, the director now owns 9,978 shares in the company, valued at approximately $2,303,521.08. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

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, retirement and education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and auction rate notes.