Oliver Luxxe Assets LLC Boosts Stake in LPL Financial Holdings Inc. $LPLA

Oliver Luxxe Assets LLC lifted its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 7.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,019 shares of the financial services provider’s stock after acquiring an additional 646 shares during the period. Oliver Luxxe Assets LLC’s holdings in LPL Financial were worth $2,951,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Natixis purchased a new stake in LPL Financial in the fourth quarter worth $121,000. Adage Capital Partners GP L.L.C. bought a new stake in shares of LPL Financial during the 4th quarter valued at $9,795,000. Two Sigma Securities LLC grew its position in shares of LPL Financial by 37.5% in the 4th quarter. Two Sigma Securities LLC now owns 993 shares of the financial services provider’s stock worth $324,000 after buying an additional 271 shares during the period. DE Burlo Group Inc. purchased a new stake in shares of LPL Financial in the 4th quarter worth about $327,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of LPL Financial in the 4th quarter worth about $24,389,000. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Insider Activity

In other news, Director Greg Gates sold 1,500 shares of the company’s stock in a transaction on 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 directly owned 19,120 shares of the company’s stock, valued at $7,151,836. This represents a 7.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.30% of the stock is currently owned by insiders.

LPL Financial Stock Up 0.3%

Shares of LPL Financial stock opened at $362.44 on Friday. The company has a 50-day simple moving average of $373.43 and a two-hundred day simple moving average of $355.68. The stock has a market capitalization of $29.00 billion, a PE ratio of 24.79, a price-to-earnings-growth ratio of 0.85 and a beta of 0.66. LPL Financial Holdings Inc. has a 52-week low of $204.41 and a 52-week high of $403.58. The company has a debt-to-equity ratio of 1.41, a quick ratio of 3.22 and a current ratio of 3.22.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings results on Thursday, July 31st. The financial services provider reported $4.51 earnings per share 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 company had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter last year, the firm earned $3.88 earnings per share. The firm’s quarterly revenue was up 30.8% compared to the same quarter last year. On average, analysts anticipate that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms recently commented on LPLA. Wells Fargo & Company boosted their price objective on shares of LPL Financial from $402.00 to $420.00 and gave the stock an “overweight” rating in a research note on Friday, July 11th. Morgan Stanley reaffirmed an “overweight” rating and set a $490.00 target price (up previously from $450.00) on shares of LPL Financial in a research note on Tuesday, July 15th. JMP Securities boosted their price target on LPL Financial from $420.00 to $440.00 and gave the stock a “market outperform” rating in a research report on Friday, May 9th. Barclays upped their price target on LPL Financial from $460.00 to $463.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Finally, TD Cowen lowered LPL Financial from a “strong-buy” rating to a “hold” rating and reduced their price objective for the company from $406.00 to $403.00 in a research report on Wednesday, July 9th. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $383.58.

About LPL Financial

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.