Sei Investments Co. Has $38.13 Million Stake in LPL Financial Holdings Inc. $LPLA

Sei Investments Co. grew its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 13.4% during the first quarter, HoldingsChannel reports. The firm owned 126,774 shares of the financial services provider’s stock after buying an additional 14,967 shares during the period. Sei Investments Co.’s holdings in LPL Financial were worth $38,134,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of LPLA. Goldstein Advisors LLC lifted its holdings in LPL Financial by 4.8% in the fourth quarter. Goldstein Advisors LLC now owns 634 shares of the financial services provider’s stock valued at $226,000 after buying an additional 29 shares during the period. Frank Rimerman Advisors LLC grew its holdings in LPL Financial by 4.1% during the 4th quarter. Frank Rimerman Advisors LLC now owns 785 shares of the financial services provider’s stock worth $280,000 after acquiring an additional 31 shares during the period. Coastal Bridge Advisors LLC grew its holdings in LPL Financial by 0.6% during the 4th quarter. Coastal Bridge Advisors LLC now owns 5,475 shares of the financial services provider’s stock worth $1,956,000 after acquiring an additional 31 shares during the period. Natural Investments LLC raised its position in shares of LPL Financial by 4.8% in the 4th quarter. Natural Investments LLC now owns 727 shares of the financial services provider’s stock worth $259,000 after acquiring an additional 33 shares in the last quarter. Finally, Root Financial Partners LLC raised its position in shares of LPL Financial by 1.4% in the 4th quarter. Root Financial Partners LLC now owns 2,318 shares of the financial services provider’s stock worth $828,000 after acquiring an additional 33 shares in the last quarter. 95.66% of the stock is currently owned by institutional investors and hedge funds.

LPL Financial Stock Performance

Shares of LPL Financial stock opened at $328.55 on Monday. LPL Financial Holdings Inc. has a one year low of $260.15 and a one year high of $403.58. The firm has a market capitalization of $26.28 billion, a price-to-earnings ratio of 29.33, a PEG ratio of 0.64 and a beta of 0.50. The business has a 50-day simple moving average of $296.47 and a 200 day simple moving average of $316.76. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.56 and a quick ratio of 2.56.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings results on Thursday, April 30th. The financial services provider reported $5.60 earnings per share for the quarter, topping analysts’ consensus estimates of $5.49 by $0.11. The business had revenue of $4.94 billion for 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%.The firm’s revenue for the quarter was up 34.6% on a year-over-year basis. During the same period in the prior year, the business earned $5.15 EPS. On average, research analysts anticipate that LPL Financial Holdings Inc. will post 23.38 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

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

Insider Buying and Selling at LPL Financial

In related news, 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 transaction, the director directly owned 6,415 shares in the company, valued at $1,962,990. This trade represents a 4.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages recently commented on LPLA. Keefe, Bruyette & Woods assumed coverage on LPL Financial in a research report on Wednesday, April 8th. They set an “outperform” rating and a $350.00 target price on the stock. Citizens Jmp reissued a “market outperform” rating and issued a $500.00 price target on shares of LPL Financial in a research note on Monday, April 6th. William Blair restated an “outperform” rating on shares of LPL Financial in a report on Thursday, June 4th. UBS Group reduced their price objective on shares of LPL Financial from $395.00 to $391.00 and set a “buy” rating for the company in a research report on Wednesday, July 8th. Finally, Morgan Stanley lifted their price objective 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. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, LPL Financial currently has an average rating of “Moderate Buy” and an average target price of $397.92.

LPL Financial Profile

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.