Personal CFO Solutions LLC Buys New Shares in LPL Financial Holdings Inc. $LPLA

Personal CFO Solutions LLC purchased a new stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) during the second quarter, HoldingsChannel reports. The institutional investor purchased 593 shares of the financial services provider’s stock, valued at approximately $222,000.

A number of other institutional investors have also made changes to their positions in LPLA. Vanguard Group Inc. grew its holdings in LPL Financial by 8.3% during the 2nd quarter. Vanguard Group Inc. now owns 7,986,766 shares of the financial services provider’s stock worth $2,994,798,000 after acquiring an additional 613,909 shares in the last quarter. Boston Partners lifted its stake in LPL Financial by 4.6% in the second quarter. Boston Partners now owns 3,674,564 shares of the financial services provider’s stock valued at $1,377,753,000 after buying an additional 160,281 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its stake in LPL Financial by 0.8% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,681,617 shares of the financial services provider’s stock valued at $877,264,000 after purchasing an additional 20,881 shares during the period. Massachusetts Financial Services Co. MA increased its position in LPL Financial by 61.1% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,442,182 shares of the financial services provider’s stock valued at $915,745,000 after acquiring an additional 926,122 shares during the period. Finally, WCM Investment Management LLC boosted its position in LPL Financial by 5.8% during the 2nd quarter. WCM Investment Management LLC now owns 1,730,777 shares of the financial services provider’s stock worth $631,664,000 after acquiring an additional 95,423 shares during the period. 95.66% of the stock is owned by institutional investors and hedge funds.

LPL Financial Stock Performance

Shares of LPLA opened at $344.02 on Monday. The company has a market capitalization of $27.54 billion, a PE ratio of 31.68, a PEG ratio of 0.76 and a beta of 0.63. The company has a debt-to-equity ratio of 1.49, a quick ratio of 2.60 and a current ratio of 2.60. The company’s 50 day moving average price is $343.51 and its 200 day moving average price is $361.89. LPL Financial Holdings Inc. has a 52 week low of $262.83 and a 52 week high of $403.58.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data on Thursday, October 30th. The financial services provider reported $5.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.49 by $0.71. LPL Financial had a return on equity of 36.80% and a net margin of 5.35%.The business had revenue of $4.55 billion during the quarter, compared to analyst estimates of $4.08 billion. During the same period last year, the company earned $4.16 earnings per share. LPL Financial’s quarterly revenue was up 46.4% compared to the same quarter last year. Research analysts expect that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Thursday, November 13th will be issued a $0.30 dividend. The ex-dividend date is Thursday, November 13th. This represents a $1.20 dividend on an annualized basis and a yield of 0.3%. LPL Financial’s dividend payout ratio is currently 11.05%.

Analysts Set New Price Targets

A number of research firms have commented on LPLA. Morgan Stanley dropped their price target on shares of LPL Financial from $490.00 to $462.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 1st. Rothschild Redb downgraded LPL Financial from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 19th. Rothschild & Co Redburn lowered LPL Financial from a “buy” rating to a “neutral” rating and set a $390.00 price target for the company. in a research note on Friday, September 19th. JMP Securities set a $475.00 price objective on LPL Financial in a research note on Friday, October 31st. Finally, Citizens Jmp raised their target price on LPL Financial from $455.00 to $475.00 and gave the company a “market outperform” rating in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $429.00.

Insider Activity at LPL Financial

In other LPL Financial news, Director Aneri Jambusaria sold 80 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $361.25, for a total transaction of $28,900.00. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Greg Gates sold 1,500 shares of the firm’s stock in a transaction on Friday, September 5th. The shares were sold at an average price of $338.21, for a total transaction of $507,315.00. Following the completion of the transaction, the director owned 17,620 shares in the company, valued at $5,959,260.20. The trade was a 7.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 3,830 shares of company stock worth $1,336,675. Insiders own 0.70% of the company’s stock.

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.