First Pacific Advisors LP trimmed its holdings in shares of LPL Financial Holdings Inc (NASDAQ:LPLA) by 15.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,924,662 shares of the financial services provider’s stock after selling 518,638 shares during the quarter. LPL Financial makes up approximately 1.8% of First Pacific Advisors LP’s investment portfolio, making the stock its 26th biggest holding. First Pacific Advisors LP’s holdings in LPL Financial were worth $203,703,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of LPLA. Vanguard Group Inc boosted its stake in LPL Financial by 2.6% in the third quarter. Vanguard Group Inc now owns 9,789,045 shares of the financial services provider’s stock valued at $631,492,000 after acquiring an additional 243,618 shares in the last quarter. BlackRock Inc. lifted its stake in shares of LPL Financial by 0.9% during the fourth quarter. BlackRock Inc. now owns 4,181,657 shares of the financial services provider’s stock worth $255,415,000 after buying an additional 39,236 shares during the period. Samlyn Capital LLC lifted its stake in shares of LPL Financial by 28.1% during the fourth quarter. Samlyn Capital LLC now owns 2,676,322 shares of the financial services provider’s stock worth $163,470,000 after buying an additional 587,765 shares during the period. Frontier Capital Management Co. LLC lifted its stake in shares of LPL Financial by 1.7% during the first quarter. Frontier Capital Management Co. LLC now owns 2,458,484 shares of the financial services provider’s stock worth $171,233,000 after buying an additional 42,077 shares during the period. Finally, Fairview Capital Investment Management LLC lifted its stake in shares of LPL Financial by 13.8% during the fourth quarter. Fairview Capital Investment Management LLC now owns 2,342,699 shares of the financial services provider’s stock worth $143,092,000 after buying an additional 283,319 shares during the period. 93.75% of the stock is currently owned by institutional investors.
Several equities research analysts have recently commented on the stock. Goldman Sachs Group downgraded shares of LPL Financial from a “conviction-buy” rating to a “buy” rating in a research note on Tuesday, April 2nd. Compass Point downgraded shares of LPL Financial from a “buy” rating to a “neutral” rating and set a $84.13 price objective for the company. in a research note on Wednesday, May 8th. BidaskClub downgraded shares of LPL Financial from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Zacks Investment Research upgraded shares of LPL Financial from a “hold” rating to a “buy” rating and set a $94.00 price objective for the company in a research note on Wednesday, May 8th. Finally, Citigroup lifted their price objective on shares of LPL Financial from $95.00 to $102.00 and gave the stock an “underweight” rating in a research note on Thursday, May 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $84.16.
In related news, insider Michelle Oroschakoff sold 6,000 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $84.51, for a total transaction of $507,060.00. Following the completion of the transaction, the insider now directly owns 15,563 shares in the company, valued at $1,315,229.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Dan H. Arnold sold 1,222 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $85.00, for a total transaction of $103,870.00. Following the transaction, the chief executive officer now owns 230,068 shares of the company’s stock, valued at $19,555,780. The disclosure for this sale can be found here. Insiders have sold 7,722 shares of company stock valued at $653,055 over the last 90 days. 2.20% of the stock is currently owned by insiders.
NASDAQ:LPLA opened at $83.88 on Monday. LPL Financial Holdings Inc has a 12 month low of $52.03 and a 12 month high of $86.09. The company has a debt-to-equity ratio of 2.60, a current ratio of 1.40 and a quick ratio of 1.40. The firm has a market cap of $7.00 billion, a PE ratio of 15.74, a P/E/G ratio of 0.79 and a beta of 1.41.
LPL Financial (NASDAQ:LPLA) last posted its earnings results on Thursday, May 2nd. The financial services provider reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.33. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.35 billion. LPL Financial had a net margin of 9.42% and a return on equity of 53.97%. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.01 earnings per share. On average, equities analysts predict that LPL Financial Holdings Inc will post 7.08 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 20th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, May 17th. This represents a $1.00 dividend on an annualized basis and a yield of 1.19%. LPL Financial’s dividend payout ratio is presently 18.76%.
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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 financial institutions in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, retirement and 529 education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and business development companies.
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