Neo Ivy Capital Management Invests $153,000 in LPL Financial Holdings Inc. $LPLA

Neo Ivy Capital Management bought a new position in LPL Financial Holdings Inc. (NASDAQ:LPLA) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 408 shares of the financial services provider’s stock, valued at approximately $153,000.

Other institutional investors have also added to or reduced their stakes in the company. Summit Securities Group LLC bought a new stake in LPL Financial in the 1st quarter worth $26,000. SBI Securities Co. Ltd. boosted its holdings in shares of LPL Financial by 116.2% during the second quarter. SBI Securities Co. Ltd. now owns 80 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 43 shares during the period. TCTC Holdings LLC boosted its holdings in shares of LPL Financial by 116.7% during the first quarter. TCTC Holdings LLC now owns 104 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 56 shares during the period. Maseco LLP bought a new stake in shares of LPL Financial in the second quarter worth about $34,000. Finally, Bayforest Capital Ltd bought a new stake in shares of LPL Financial in the second quarter worth about $34,000. Hedge funds and other institutional investors own 95.66% of the company’s stock.

LPL Financial Price Performance

LPLA opened at $344.02 on Friday. The stock has a fifty day simple moving average of $343.51 and a two-hundred day simple moving average of $361.70. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 1.49. The company has a market cap of $27.54 billion, a price-to-earnings ratio of 31.68, a price-to-earnings-growth ratio of 0.76 and a beta of 0.63. LPL Financial Holdings Inc. has a 12-month low of $262.83 and a 12-month high of $403.58.

LPL Financial (NASDAQ:LPLA) last announced its earnings results on Thursday, October 30th. The financial services provider reported $5.20 EPS for the quarter, beating analysts’ consensus estimates of $4.49 by $0.71. The firm had revenue of $4.55 billion for the quarter, compared to analysts’ expectations of $4.08 billion. LPL Financial had a net margin of 5.35% and a return on equity of 36.80%. The company’s quarterly revenue was up 46.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.16 EPS. Research analysts predict that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Thursday, November 13th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.3%. LPL Financial’s dividend payout ratio (DPR) is currently 11.05%.

Insider Buying and Selling

In other LPL Financial news, Director Greg Gates sold 1,500 shares of LPL Financial stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $376.43, for a total transaction of $564,645.00. Following the completion of the transaction, the director owned 15,370 shares in the company, valued at approximately $5,785,729.10. The trade was a 8.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Aneri Jambusaria sold 80 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $361.25, for a total transaction of $28,900.00. Following the sale, the director directly owned 5,582 shares in the company, valued at $2,016,497.50. This trade represents a 1.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 3,830 shares of company stock worth $1,336,675. Insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on LPLA shares. Morgan Stanley lowered their price target on LPL Financial from $490.00 to $462.00 and set an “overweight” rating for the company in a research report on Wednesday, October 1st. UBS Group set a $455.00 target price on LPL Financial in a research note on Thursday, October 9th. Rothschild & Co Redburn downgraded LPL Financial from a “buy” rating to a “neutral” rating and set a $390.00 target price for the company. in a report on Friday, September 19th. BMO Capital Markets initiated coverage on LPL Financial in a research note on Friday, October 3rd. They issued an “outperform” rating and a $365.00 price target for the company. Finally, Citigroup reiterated an “outperform” rating on shares of LPL Financial in a report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $429.00.

About LPL Financial

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 enterprises in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, fixed income, alternative investments, retirement and 529 education savings plans, and insurance.