8,436 Shares in LPL Financial Holdings Inc. $LPLA Bought by OP Asset Management Ltd

OP Asset Management Ltd acquired a new position in LPL Financial Holdings Inc. (NASDAQ:LPLA) during the first quarter, according to the company in its most recent filing with the SEC. The fund acquired 8,436 shares of the financial services provider’s stock, valued at approximately $2,538,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ocean Park Asset Management LLC acquired a new position in shares of LPL Financial in the first quarter worth about $21,519,000. SG Americas Securities LLC grew its stake in LPL Financial by 37.1% during the 1st quarter. SG Americas Securities LLC now owns 8,052 shares of the financial services provider’s stock valued at $2,422,000 after purchasing an additional 2,181 shares in the last quarter. Evolve Private Wealth LLC increased its holdings in LPL Financial by 20.3% during the 1st quarter. Evolve Private Wealth LLC now owns 1,002 shares of the financial services provider’s stock worth $302,000 after purchasing an additional 169 shares during the last quarter. Triad Wealth Partners LLC increased its holdings in LPL Financial by 3.8% during the 1st quarter. Triad Wealth Partners LLC now owns 2,011 shares of the financial services provider’s stock worth $605,000 after purchasing an additional 74 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S raised its position in shares of LPL Financial by 37.8% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 6,784 shares of the financial services provider’s stock valued at $2,041,000 after purchasing an additional 1,862 shares in the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.

LPL Financial Price Performance

LPLA opened at $269.03 on Friday. The company has a quick ratio of 2.56, a current ratio of 2.56 and a debt-to-equity ratio of 1.26. The company’s 50-day moving average price is $298.21 and its 200 day moving average price is $325.09. LPL Financial Holdings Inc. has a fifty-two week low of $260.15 and a fifty-two week high of $403.58. The firm has a market cap of $21.52 billion, a price-to-earnings ratio of 24.02, a price-to-earnings-growth ratio of 0.55 and a beta of 0.50.

LPL Financial (NASDAQ:LPLA) last issued its earnings results on Thursday, April 30th. The financial services provider reported $5.60 EPS for the quarter, beating analysts’ consensus estimates of $5.49 by $0.11. The company had revenue of $4.94 billion during the quarter, compared to the consensus estimate of $4.98 billion. LPL Financial had a return on equity of 31.26% and a net margin of 4.93%.LPL Financial’s quarterly revenue was up 34.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.15 earnings per share. As a group, sell-side analysts expect that LPL Financial Holdings Inc. will post 22.98 earnings per share for the current year.

LPL Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 21st were given a dividend of $0.30 per share. The ex-dividend date was Thursday, May 21st. This represents a $1.20 dividend on an annualized basis and a yield of 0.4%. LPL Financial’s payout ratio is currently 10.71%.

Insider Buying and Selling

In related news, CFO Matthew J. Audette sold 1,110 shares of the company’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $330.01, for a total transaction of $366,311.10. Following the completion of the transaction, the chief financial officer directly owned 19,803 shares in the company, valued at $6,535,188.03. This represents a 5.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Aneri Jambusaria sold 308 shares of the stock in a transaction 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 completion of the sale, the director directly 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,887 shares of company stock valued at $613,144 in the last 90 days. Insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

LPLA has been the subject of several research analyst reports. UBS Group increased their target price on LPL Financial from $380.00 to $395.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Jefferies Financial Group cut their price target on shares of LPL Financial from $464.00 to $383.00 and set a “buy” rating on the stock in a report on Monday, April 6th. William Blair reiterated an “outperform” rating on shares of LPL Financial in a research note on Thursday, June 4th. Citizens Jmp reissued a “market outperform” rating and set a $500.00 price objective on shares of LPL Financial in a report on Monday, April 6th. Finally, Morgan Stanley dropped their target price on shares of LPL Financial from $447.00 to $374.00 and set an “overweight” rating for the company in a research report on Friday, April 10th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $398.86.

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.