OP Asset Management Ltd Makes New $2.54 Million Investment in LPL Financial Holdings Inc. $LPLA

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

Several other institutional investors and hedge funds have also made changes to their positions in LPLA. Capital World Investors increased its position in LPL Financial by 15,960.1% during the third quarter. Capital World Investors now owns 2,628,551 shares of the financial services provider’s stock worth $874,493,000 after buying an additional 2,612,184 shares during the period. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of LPL Financial in the fourth quarter valued at approximately $450,493,000. M&T Bank Corp boosted its holdings in shares of LPL Financial by 27,955.5% in the fourth quarter. M&T Bank Corp now owns 1,141,019 shares of the financial services provider’s stock valued at $407,538,000 after acquiring an additional 1,136,952 shares during the period. Norges Bank purchased a new position in shares of LPL Financial during the fourth quarter worth approximately $371,616,000. Finally, Dodge & Cox grew its position in shares of LPL Financial by 23.2% during the third quarter. Dodge & Cox now owns 3,329,255 shares of the financial services provider’s stock worth $1,107,610,000 after acquiring an additional 627,546 shares during the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Aneri Jambusaria sold 308 shares of the stock in a transaction dated 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 owned 6,415 shares in the company, valued at approximately $1,962,990. This trade represents a 4.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Matthew J. Audette sold 1,110 shares of the firm’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $330.01, for a total value of $366,311.10. Following the sale, the chief financial officer owned 19,803 shares in the company, valued at approximately $6,535,188.03. The trade was a 5.31% 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 1,887 shares of company stock valued at $613,144 in the last ninety days. Company insiders own 0.60% of the company’s stock.

LPL Financial Price Performance

LPLA stock opened at $269.03 on Friday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.56 and a current ratio of 2.56. The firm has a market cap of $21.52 billion, a P/E ratio of 24.02, a PEG ratio of 0.55 and a beta of 0.50. LPL Financial Holdings Inc. has a 1 year low of $260.15 and a 1 year high of $403.58. The stock’s 50 day moving average price is $298.21 and its 200 day moving average price is $325.09.

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

LPL Financial Announces Dividend

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

Wall Street Analyst Weigh In

LPLA has been the subject of several research reports. Barclays upped their price target on shares of LPL Financial from $369.00 to $412.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. UBS Group raised their price objective on shares of LPL Financial from $380.00 to $395.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Weiss Ratings restated a “hold (c)” rating on shares of LPL Financial in a research note on Monday, April 27th. TD Cowen reduced their target price on shares of LPL Financial from $330.00 to $326.00 and set a “hold” rating for the company in a report on Friday, May 1st. Finally, Keefe, Bruyette & Woods initiated coverage on shares of LPL Financial in a research note on Wednesday, April 8th. They set an “outperform” rating and a $350.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $398.86.

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.