Lombard Odier Asset Management Switzerland SA purchased a new position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA – Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,630 shares of the financial services provider’s stock, valued at approximately $490,000.
Other large investors also recently bought and sold shares of the company. Egerton Capital UK LLP purchased a new stake in LPL Financial during the fourth quarter worth $91,012,000. Massachusetts Financial Services Co. MA increased its holdings in shares of LPL Financial by 14.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,719,447 shares of the financial services provider’s stock valued at $1,328,475,000 after acquiring an additional 477,094 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of LPL Financial by 7.1% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 77,992 shares of the financial services provider’s stock worth $28,204,000 after acquiring an additional 5,179 shares in the last quarter. Markel Group Inc. lifted its stake in shares of LPL Financial by 1.2% during the 4th quarter. Markel Group Inc. now owns 559,951 shares of the financial services provider’s stock worth $199,998,000 after purchasing an additional 6,630 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of LPL Financial during the 4th quarter worth $371,616,000. Hedge funds and other institutional investors own 95.66% of the company’s stock.
Insider Activity at LPL Financial
In related news, Director Aneri Jambusaria sold 308 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $306.00, for a total value of $94,248.00. Following the sale, the director owned 6,415 shares in the company, valued at $1,962,990. This represents a 4.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is owned by company insiders.
LPL Financial Trading Up 3.2%
LPL Financial (NASDAQ:LPLA – Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The financial services provider reported $5.60 earnings per share for the quarter, beating analysts’ consensus estimates of $5.49 by $0.11. The firm had revenue of $4.94 billion for the quarter, compared to analyst estimates of $4.98 billion. LPL Financial had a net margin of 4.93% and a return on equity of 31.26%. The business’s quarterly revenue was up 34.6% compared to the same quarter last year. During the same period in the previous year, the company earned $5.15 earnings per share. Analysts predict that LPL Financial Holdings Inc. will post 23.38 EPS for the current year.
Analyst Ratings Changes
LPLA has been the topic of a number of recent analyst reports. Citizens Jmp restated a “market outperform” rating and issued a $500.00 price target on shares of LPL Financial in a report on Monday, April 6th. Weiss Ratings reissued a “hold (c)” rating on shares of LPL Financial in a research report on Friday. Morgan Stanley raised their target price on shares of LPL Financial from $374.00 to $387.00 and gave the company an “overweight” rating in a research note on Friday, July 10th. JPMorgan Chase & Co. upped their price target on LPL Financial from $390.00 to $408.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. Finally, William Blair reissued an “outperform” rating on shares of LPL Financial in a research report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $397.92.
Get Our Latest Stock Analysis on LPL Financial
About LPL Financial
LPL Financial (NASDAQ: LPLA) is a U.S.-focused financial services firm that provides brokerage, custodial and advisory platforms to independent financial advisors, registered investment advisers and institutions. Operating primarily as an independent broker-dealer and custodian, the company supports a network of advisors with the operational, compliance and clearing infrastructure needed to manage client accounts and deliver investment advice outside of traditional wirehouse models.
The firm’s product and service offerings include trade execution and clearing, custody services, retirement plan services, model portfolio and advisory platforms, wealth management technology, investment research and product access across equities, fixed income, mutual funds, exchange-traded funds and insurance and annuity solutions.
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