LPL Financial Holdings Inc. $LPLA Shares Bought by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA raised its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 4.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,378 shares of the financial services provider’s stock after buying an additional 1,886 shares during the quarter. Pictet Asset Management Holding SA owned about 0.05% of LPL Financial worth $12,653,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of LPL Financial during the 2nd quarter worth approximately $1,333,189,000. Jupiter Topco LLC purchased a new position in shares of LPL Financial in the second quarter valued at $1,182,595,000. Janus Henderson Group PLC grew its holdings in shares of LPL Financial by 8.6% in the first 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 purchasing an additional 289,227 shares in the last quarter. WCM Investment Management LLC grew its holdings in shares of LPL Financial by 0.8% in the first quarter. WCM Investment Management LLC now owns 1,734,395 shares of the financial services provider’s stock valued at $520,631,000 after purchasing an additional 12,922 shares in the last quarter. Finally, SurgoCap Partners LP bought a new stake in LPL Financial in the second quarter worth $299,487,000. Institutional investors own 95.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Morgan Stanley increased their price objective on shares of LPL Financial from $393.00 to $399.00 and gave the company an “overweight” rating in a research report on Tuesday. Citizens Jmp restated a “market outperform” rating and issued a $500.00 target price on shares of LPL Financial in a report on Monday, October 5th. Weiss Ratings upgraded shares of LPL Financial from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, November 4th. Truist Financial decreased their target price on shares of LPL Financial from $354.00 to $335.00 and set a “hold” rating on the stock in a research report on Wednesday, October 28th. Finally, Keefe, Bruyette & Woods increased their price target on shares of LPL Financial from $365.00 to $390.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $401.00.

Insider Buying and Selling at LPL Financial

In other news, insider Katharine Reeping sold 440 shares of LPL Financial stock in a transaction on Friday, September 11th. The stock was sold at an average price of $347.88, for a total transaction of $153,067.20. Following the completion of the sale, the insider directly owned 1,774 shares in the company, valued at approximately $617,139.12. This trade represents a 19.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Aneri Jambusaria sold 308 shares of the business’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $357.36, for a total transaction of $110,066.88. Following the sale, the director directly owned 6,107 shares of the company’s stock, valued at $2,182,397.52. This represents a 4.80% 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 have sold 4,867 shares of company stock valued at $1,726,944 in the last quarter. 0.60% of the stock is owned by insiders.

LPL Financial Stock Down 3.1%

Shares of NASDAQ:LPLA opened at $292.27 on Friday. The firm has a market capitalization of $22.76 billion, a PE ratio of 13.32, a price-to-earnings-growth ratio of 0.57 and a beta of 0.55. The business has a 50 day simple moving average of $319.25 and a two-hundred day simple moving average of $319.94. LPL Financial Holdings Inc. has a 1 year low of $260.15 and a 1 year high of $400.16. The company has a debt-to-equity ratio of 1.34, a current ratio of 2.62 and a quick ratio of 2.62.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings results on Tuesday, October 27th. The financial services provider reported $5.97 earnings per share for the quarter, topping the consensus estimate of $5.69 by $0.28. LPL Financial had a return on equity of 32.05% and a net margin of 6.83%. The firm had revenue of $5.34 billion for the quarter, compared to the consensus estimate of $5.35 billion. During the same period in the prior year, the business posted $5.20 earnings per share. The company’s revenue for the quarter was up 17.4% on a year-over-year basis. On average, equities analysts predict that LPL Financial Holdings Inc. will post 23.52 EPS for the current year.

LPL Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 30th. Shareholders of record on Thursday, November 12th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Thursday, November 12th. LPL Financial’s dividend payout ratio is 6.88%.

About LPL Financial

LPL Financial Holdings Inc. provides brokerage and investment advisory services through a network of independent financial professionals. The company supports financial advisors, registered investment advisers, banks and credit unions with services designed to help them serve individual and institutional clients. Its offerings include investment and retirement planning platforms, brokerage and advisory account services, custody, financial technology, research, compliance support and practice-management resources.