4,455 Shares in LPL Financial Holdings Inc. $LPLA Bought by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp acquired a new stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) during the 2nd quarter, Holdings Channel reports. The firm acquired 4,455 shares of the financial services provider’s stock, valued at approximately $1,255,000.

Other institutional investors have also recently made changes to their positions in the company. Osterweis Capital Management Inc. bought a new position in LPL Financial in the 2nd quarter worth approximately $26,000. Clearstead Advisors LLC lifted its holdings in shares of LPL Financial by 3,650.0% in the fourth quarter. Clearstead Advisors LLC now owns 75 shares of the financial services provider’s stock worth $27,000 after buying an additional 73 shares in the last quarter. Core Wealth Advisors LLC bought a new position in shares of LPL Financial during the fourth quarter worth $36,000. Physician Wealth Advisors Inc. grew its stake in LPL Financial by 580.0% during the first quarter. Physician Wealth Advisors Inc. now owns 136 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 116 shares in the last quarter. Finally, Pinpoint Asset Management Singapore Pte. Ltd. purchased a new position in LPL Financial during the fourth quarter valued at $50,000. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Morgan Stanley boosted their price target on shares of LPL Financial from $374.00 to $387.00 and gave the stock an “overweight” rating in a research note on Friday, July 10th. BMO Capital Markets lifted their target price on LPL Financial from $300.00 to $390.00 and gave the stock an “outperform” rating in a report on Monday, August 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LPL Financial in a report on Friday, July 24th. TD Cowen boosted their target price on LPL Financial from $330.00 to $372.00 and gave the stock a “hold” rating in a research report on Friday, July 31st. Finally, JPMorgan Chase & Co. increased their price target on LPL Financial from $408.00 to $428.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Twelve research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, LPL Financial presently has a consensus rating of “Moderate Buy” and an average price target of $406.69.

Insider Buying and Selling

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 transaction, the director owned 23,602 shares of the company’s stock, valued at approximately $8,387,678.76. This represents a 14.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Matthew Enyedi sold 1,000 shares of the firm’s stock in a transaction that occurred 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 $4,628,039.12. This represents a 7.08% 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 5,427 shares of company stock valued at $1,910,778 in the last ninety days. 0.60% of the stock is owned by company insiders.

LPL Financial Price Performance

Shares of LPL Financial stock opened at $360.24 on Thursday. The stock has a market cap of $28.37 billion, a price-to-earnings ratio of 28.73, a price-to-earnings-growth ratio of 0.61 and a beta of 0.48. The company has a debt-to-equity ratio of 1.30, a quick ratio of 2.39 and a current ratio of 2.39. The stock has a 50 day moving average price of $330.25 and a 200-day moving average price of $315.00. LPL Financial Holdings Inc. has a one year low of $260.15 and a one year high of $400.16.

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, topping the consensus estimate of $5.39 by $0.45. LPL Financial had a net margin of 5.13% and a return on equity of 32.20%. The company had revenue of $5.19 billion during the quarter, compared to analyst estimates of $5.04 billion. During the same period in the previous year, the firm earned $4.51 earnings per share. LPL Financial’s quarterly revenue was up 35.2% compared to the same quarter last year. Equities analysts expect that LPL Financial Holdings Inc. will post 24.09 EPS for the current year.

LPL Financial Dividend Announcement

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

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.