Twin Capital Management Inc. purchased a new stake in shares of LPL Financial Holdings Inc (NASDAQ:LPLA) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 46,650 shares of the financial services provider’s stock, valued at approximately $3,805,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its position in LPL Financial by 8.4% during the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 3,600 shares of the financial services provider’s stock valued at $250,000 after buying an additional 280 shares during the period. Boston Advisors LLC boosted its position in LPL Financial by 35.2% during the 1st quarter. Boston Advisors LLC now owns 90,577 shares of the financial services provider’s stock valued at $6,309,000 after buying an additional 23,591 shares during the period. NN Investment Partners Holdings N.V. boosted its position in LPL Financial by 1,604.8% during the 2nd quarter. NN Investment Partners Holdings N.V. now owns 22,162 shares of the financial services provider’s stock valued at $1,808,000 after buying an additional 20,862 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in LPL Financial during the 1st quarter valued at $724,000. Finally, NumerixS Investment Technologies Inc boosted its position in LPL Financial by 82.3% during the 1st quarter. NumerixS Investment Technologies Inc now owns 7,476 shares of the financial services provider’s stock valued at $518,000 after buying an additional 3,376 shares during the period. 95.17% of the stock is owned by institutional investors and hedge funds.
NASDAQ LPLA traded up $1.12 during trading on Friday, hitting $71.78. The company had a trading volume of 283,836 shares, compared to its average volume of 709,726. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 2.55. LPL Financial Holdings Inc has a one year low of $52.03 and a one year high of $89.89. The company has a market cap of $6.15 billion, a price-to-earnings ratio of 13.47, a price-to-earnings-growth ratio of 0.70 and a beta of 1.33. The company’s fifty day moving average is $81.79 and its 200-day moving average is $78.44.
LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $1.85 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.73 by $0.12. LPL Financial had a net margin of 9.77% and a return on equity of 57.63%. The business had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same period in the prior year, the business earned $1.30 EPS. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. As a group, equities analysts anticipate that LPL Financial Holdings Inc will post 7.12 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Tuesday, August 13th will be issued a $0.25 dividend. The ex-dividend date is Monday, August 12th. This represents a $1.00 annualized dividend and a yield of 1.39%. LPL Financial’s dividend payout ratio (DPR) is presently 18.76%.
In other LPL Financial news, CFO Matthew J. Audette sold 12,500 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $76.67, for a total value of $958,375.00. Following the completion of the transaction, the chief financial officer now directly owns 30,943 shares in the company, valued at approximately $2,372,399.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michelle Oroschakoff sold 5,000 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $71.67, for a total transaction of $358,350.00. Following the completion of the transaction, the insider now owns 14,297 shares of the company’s stock, valued at $1,024,665.99. The disclosure for this sale can be found here. Insiders sold a total of 23,500 shares of company stock valued at $1,823,785 over the last 90 days. Company insiders own 2.20% of the company’s stock.
Several brokerages have weighed in on LPLA. ValuEngine cut shares of LPL Financial from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. Zacks Investment Research cut shares of LPL Financial from a “hold” rating to a “sell” rating in a research report on Saturday, July 27th. Credit Suisse Group increased their price target on shares of LPL Financial from $108.00 to $110.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Citigroup dropped their price target on shares of LPL Financial from $102.00 to $100.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Finally, Compass Point cut shares of LPL Financial from a “buy” rating to a “neutral” rating and set a $84.13 price target for the company. in a research report on Wednesday, May 8th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $87.19.
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 financial institutions in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, retirement and 529 education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and business development companies.
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