Osmosis Investment Management UK Ltd Purchases New Position in LPL Financial Holdings Inc. $LPLA

Osmosis Investment Management UK Ltd purchased a new stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,915 shares of the financial services provider’s stock, valued at approximately $539,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LPLA. BlackRock Inc. purchased a new stake in shares of LPL Financial during the 2nd quarter worth approximately $1,333,189,000. Dodge & Cox boosted its holdings in shares of LPL Financial by 18.6% in the 4th quarter. Dodge & Cox now owns 3,948,970 shares of the financial services provider’s stock valued at $1,410,454,000 after buying an additional 619,715 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of LPL Financial by 8.6% in the 1st quarter. Janus Henderson Group PLC now owns 3,666,780 shares of the financial services provider’s stock valued at $1,103,079,000 after buying an additional 289,227 shares during the last quarter. Capital World Investors grew its position in shares of LPL Financial by 37.9% in the 4th quarter. Capital World Investors now owns 3,625,357 shares of the financial services provider’s stock valued at $1,294,869,000 after buying an additional 996,806 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of LPL Financial by 36.3% during the first quarter. Principal Financial Group Inc. now owns 2,636,544 shares of the financial services provider’s stock worth $793,163,000 after purchasing an additional 702,061 shares during the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on LPLA. TD Cowen boosted their target price on LPL Financial from $330.00 to $372.00 and gave the company a “hold” rating in a report on Friday, July 31st. Weiss Ratings reissued a “hold (c)” rating on shares of LPL Financial in a report on Friday, July 24th. William Blair restated an “outperform” rating on shares of LPL Financial in a research report on Thursday, June 4th. JPMorgan Chase & Co. lifted their target price on shares of LPL Financial from $408.00 to $428.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Finally, Morgan Stanley upped their price target on shares of LPL Financial from $374.00 to $387.00 and gave the company an “overweight” rating in a research report on Friday, July 10th. Twelve analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, LPL Financial presently has a consensus rating of “Moderate Buy” and an average price target of $406.69.

LPL Financial Stock Performance

NASDAQ LPLA opened at $361.88 on Wednesday. The firm has a market cap of $28.49 billion, a P/E ratio of 28.86, a P/E/G ratio of 0.61 and a beta of 0.48. LPL Financial Holdings Inc. has a 52-week low of $260.15 and a 52-week high of $400.16. The business’s 50-day moving average price is $329.13 and its 200 day moving average price is $315.09. The company has a quick ratio of 2.39, a current ratio of 2.39 and a debt-to-equity ratio of 1.30.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $5.84 EPS for the quarter, beating the consensus estimate of $5.39 by $0.45. LPL Financial had a return on equity of 32.20% and a net margin of 5.13%.The firm had revenue of $5.19 billion during the quarter, compared to the consensus estimate of $5.04 billion. During the same period in the prior year, the business earned $4.51 EPS. The firm’s revenue was up 35.2% compared to the same quarter last year. On average, equities research analysts expect that LPL Financial Holdings Inc. will post 24.09 earnings per share for the current year.

LPL Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.3%. LPL Financial’s payout ratio is presently 9.57%.

Insider Transactions at LPL Financial

In other news, Director Greg Gates sold 4,119 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $355.38, for a total transaction of $1,463,810.22. Following the completion of the sale, the director owned 23,602 shares in the company, valued at $8,387,678.76. This represents a 14.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Matthew Enyedi sold 1,000 shares of the stock in a transaction on Friday, July 31st. The stock was sold at an average price of $352.72, for a total value of $352,720.00. Following the sale, the director directly owned 13,121 shares of the company’s stock, valued at approximately $4,628,039.12. This represents a 7.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 5,427 shares of company stock worth $1,910,778 over the last 90 days. 0.60% of the stock is currently owned by insiders.

LPL Financial Company 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.