Vise Technologies Inc. Makes New $795,000 Investment in LPL Financial Holdings Inc. $LPLA

Vise Technologies Inc. purchased a new stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) in the second quarter, Holdings Channel reports. The institutional investor purchased 2,121 shares of the financial services provider’s stock, valued at approximately $795,000.

Other hedge funds also recently modified their holdings of the company. AGF Management Ltd. raised its holdings in LPL Financial by 74.9% in the 2nd quarter. AGF Management Ltd. now owns 765,024 shares of the financial services provider’s stock valued at $286,861,000 after buying an additional 327,580 shares during the last quarter. Bryn Mawr Trust Advisors LLC acquired a new position in LPL Financial in the 2nd quarter valued at approximately $316,000. JPMorgan Chase & Co. lifted its holdings in shares of LPL Financial by 8.8% during the first quarter. JPMorgan Chase & Co. now owns 1,304,780 shares of the financial services provider’s stock worth $426,846,000 after purchasing an additional 105,665 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of LPL Financial by 5.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 354,001 shares of the financial services provider’s stock worth $115,808,000 after purchasing an additional 18,252 shares during the last quarter. Finally, FORA Capital LLC acquired a new stake in LPL Financial in the first quarter valued at $1,728,000. Institutional investors and hedge funds own 95.66% of the company’s stock.

Insider Transactions at LPL Financial

In other news, Director Aneri Jambusaria sold 80 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $361.25, for a total value of $28,900.00. Following the completion of the sale, the director directly owned 5,582 shares in the company, valued at $2,016,497.50. This trade represents a 1.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Greg Gates sold 1,500 shares of the business’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $338.21, for a total value of $507,315.00. Following the completion of the sale, the director directly owned 17,620 shares of the company’s stock, valued at $5,959,260.20. The trade was a 7.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 3,830 shares of company stock worth $1,336,675 in the last three months. Insiders own 1.30% of the company’s stock.

LPL Financial Price Performance

LPL Financial stock opened at $372.44 on Friday. The stock has a market capitalization of $29.81 billion, a price-to-earnings ratio of 34.29, a PEG ratio of 0.83 and a beta of 0.63. LPL Financial Holdings Inc. has a 52-week low of $262.83 and a 52-week high of $403.58. The company has a debt-to-equity ratio of 1.49, a quick ratio of 2.60 and a current ratio of 2.60. The stock’s 50 day moving average price is $341.97 and its two-hundred day moving average price is $360.20.

LPL Financial (NASDAQ:LPLA) last released its earnings results on Thursday, October 30th. The financial services provider reported $5.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.49 by $0.71. The company had revenue of $4.55 billion for the quarter, compared to the consensus estimate of $4.08 billion. LPL Financial had a net margin of 5.35% and a return on equity of 36.80%. LPL Financial’s quarterly revenue was up 46.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.16 EPS. On average, equities analysts predict that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Thursday, November 13th will be issued a dividend of $0.30 per share. The ex-dividend date is Thursday, November 13th. This represents a $1.20 annualized dividend and a dividend yield of 0.3%. LPL Financial’s dividend payout ratio is currently 11.05%.

Analysts Set New Price Targets

A number of equities research analysts have commented on LPLA shares. Rothschild & Co Redburn lowered LPL Financial from a “buy” rating to a “neutral” rating and set a $390.00 price target on the stock. in a research report on Friday, September 19th. Rothschild Redb cut LPL Financial from a “strong-buy” rating to a “hold” rating in a report on Friday, September 19th. Citigroup reissued an “outperform” rating on shares of LPL Financial in a research report on Friday, October 31st. The Goldman Sachs Group restated a “buy” rating and issued a $421.00 price target on shares of LPL Financial in a research report on Friday, October 31st. Finally, Raymond James Financial raised shares of LPL Financial from an “underperform” rating to a “market perform” rating in a research note on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, LPL Financial has a consensus rating of “Moderate Buy” and a consensus price target of $429.00.

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, fixed income, alternative investments, retirement and 529 education savings plans, and insurance.