Canada Pension Plan Investment Board trimmed its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA – Free Report) by 8.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 99,745 shares of the financial services provider’s stock after selling 9,200 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.13% of LPL Financial worth $21,688,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also made changes to their positions in the company. Apollon Wealth Management LLC bought a new position in shares of LPL Financial in the 2nd quarter valued at approximately $217,000. BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of LPL Financial by 60.5% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 30,378 shares of the financial services provider’s stock valued at $6,149,000 after acquiring an additional 11,447 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of LPL Financial in the 2nd quarter valued at approximately $1,222,000. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of LPL Financial by 7.8% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 239,068 shares of the financial services provider’s stock valued at $48,387,000 after acquiring an additional 17,398 shares in the last quarter. Finally, Signaturefd LLC raised its stake in shares of LPL Financial by 30.3% in the 1st quarter. Signaturefd LLC now owns 1,379 shares of the financial services provider’s stock valued at $279,000 after acquiring an additional 321 shares in the last quarter. 92.84% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
LPLA has been the topic of a number of recent analyst reports. Citigroup raised their price objective on LPL Financial from $245.00 to $275.00 and gave the company a “buy” rating in a research note on Friday, July 28th. StockNews.com assumed coverage on LPL Financial in a research report on Thursday, October 5th. They issued a “hold” rating on the stock. Bank of America lifted their price target on LPL Financial from $232.00 to $233.00 in a research report on Sunday, July 30th. Morgan Stanley dropped their price target on LPL Financial from $260.00 to $252.00 and set an “equal weight” rating on the stock in a research report on Monday, October 30th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $290.00 price target on shares of LPL Financial in a research report on Tuesday, October 10th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $252.90.
LPL Financial Price Performance
Shares of LPLA stock opened at $221.49 on Thursday. The stock’s fifty day simple moving average is $231.86 and its 200 day simple moving average is $220.88. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.87 and a quick ratio of 1.87. The firm has a market cap of $16.75 billion, a price-to-earnings ratio of 15.02, a P/E/G ratio of 0.63 and a beta of 0.91. LPL Financial Holdings Inc. has a one year low of $179.00 and a one year high of $257.64.
LPL Financial (NASDAQ:LPLA – Get Free Report) last announced its quarterly earnings results on Thursday, October 26th. The financial services provider reported $3.74 EPS for the quarter, beating the consensus estimate of $3.59 by $0.15. The business had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.51 billion. LPL Financial had a return on equity of 60.49% and a net margin of 11.99%. LPL Financial’s quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.13 EPS. On average, analysts expect that LPL Financial Holdings Inc. will post 15.44 earnings per share for the current fiscal year.
LPL Financial Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, November 27th. Investors of record on Thursday, November 9th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.54%. The ex-dividend date is Wednesday, November 8th. LPL Financial’s dividend payout ratio is 8.14%.
Insider Activity at LPL Financial
In other LPL Financial news, Director Aneri Jambusaria sold 1,930 shares of the business’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $222.37, for a total value of $429,174.10. Following the transaction, the director now owns 1,802 shares of the company’s stock, valued at $400,710.74. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Matthew Enyedi sold 3,265 shares of the company’s stock in a transaction 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 transaction, the director now owns 9,978 shares of the company’s stock, valued at $2,303,521.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Aneri Jambusaria sold 1,930 shares of the company’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $222.37, for a total value of $429,174.10. Following the transaction, the director now directly owns 1,802 shares in the company, valued at approximately $400,710.74. The disclosure for this sale can be found here. Insiders have sold a total of 15,848 shares of company stock valued at $3,770,797 in the last 90 days. 1.30% of the stock is owned by corporate insiders.
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, 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.
- Five stocks we like better than LPL Financial
- 3 Warren Buffett Stocks to Buy Now
- Buffett’s latest portfolio additions, trims, and cuts in Q3
- Low PE Growth Stocks: Unlocking Investment Opportunities
- 5 reasons TJX Companies will hit new highs in 2024
- Dividend Capture Strategy: What You Need to Know
- Game-changing news for Ambarella puts the market in reversal
Receive News & Ratings for LPL Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LPL Financial and related companies with MarketBeat.com's FREE daily email newsletter.