Sei Investments Co. Purchases 14,967 Shares of LPL Financial Holdings Inc. $LPLA

Sei Investments Co. grew its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 13.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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. owned approximately 0.16% of LPL Financial worth $38,134,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of LPL Financial in the fourth quarter valued at about $450,493,000. M&T Bank Corp grew its position in shares of LPL Financial by 27,955.5% during the 4th quarter. M&T Bank Corp now owns 1,141,019 shares of the financial services provider’s stock worth $407,538,000 after purchasing an additional 1,136,952 shares in the last quarter. Norges Bank bought a new position in shares of LPL Financial during the fourth quarter worth approximately $371,616,000. Capital World Investors increased its holdings in shares of LPL Financial by 37.9% during the fourth quarter. Capital World Investors now owns 3,625,357 shares of the financial services provider’s stock worth $1,294,869,000 after purchasing an additional 996,806 shares during the period. Finally, Principal Financial Group Inc. raised its position in shares of LPL Financial by 36.3% in the first quarter. Principal Financial Group Inc. now owns 2,636,544 shares of the financial services provider’s stock valued at $793,163,000 after buying an additional 702,061 shares in the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Morgan Stanley boosted their price target on LPL Financial from $374.00 to $387.00 and gave the company an “overweight” rating in a research note on Friday, July 10th. Jefferies Financial Group lowered their price objective on LPL Financial from $464.00 to $383.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. William Blair reaffirmed an “outperform” rating on shares of LPL Financial in a report on Thursday, June 4th. Barclays cut their target price on LPL Financial from $412.00 to $394.00 and set an “overweight” rating for the company in a research report on Thursday, July 9th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of LPL Financial in a research report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $397.92.

LPL Financial Stock Performance

NASDAQ LPLA opened at $328.55 on Monday. The company has a current ratio of 2.56, a quick ratio of 2.56 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $26.28 billion, a price-to-earnings ratio of 29.33, a P/E/G ratio of 0.64 and a beta of 0.50. The firm’s 50 day simple moving average is $296.47 and its 200 day simple moving average is $316.76. LPL Financial Holdings Inc. has a 1 year low of $260.15 and a 1 year high of $403.58.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data on Thursday, April 30th. The financial services provider reported $5.60 EPS for the quarter, beating the consensus estimate of $5.49 by $0.11. The business had revenue of $4.94 billion during the quarter, compared to the consensus estimate of $4.98 billion. LPL Financial had a net margin of 4.93% and a return on equity of 31.26%. The company’s revenue was up 34.6% on a year-over-year basis. During the same period in the previous year, the business earned $5.15 earnings per share. As a group, research analysts expect that LPL Financial Holdings Inc. will post 23.38 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

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

Insider Buying and Selling at LPL Financial

In other LPL Financial news, Director Aneri Jambusaria sold 308 shares of the company’s 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 transaction, the director owned 6,415 shares of the company’s stock, valued at $1,962,990. This 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 currently owned by company insiders.

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.