EFG Asset Management North America Corp. Boosts Stock Position in LPL Financial Holdings Inc. $LPLA

EFG Asset Management North America Corp. raised its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 95.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,921 shares of the financial services provider’s stock after purchasing an additional 2,896 shares during the quarter. EFG Asset Management North America Corp.’s holdings in LPL Financial were worth $2,220,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Summit Securities Group LLC acquired a new stake in shares of LPL Financial during the first quarter worth $26,000. Millstone Evans Group LLC increased its stake in LPL Financial by 123.1% in the 1st quarter. Millstone Evans Group LLC now owns 87 shares of the financial services provider’s stock valued at $28,000 after buying an additional 48 shares during the period. Private Trust Co. NA raised its position in LPL Financial by 234.5% during the 1st quarter. Private Trust Co. NA now owns 97 shares of the financial services provider’s stock worth $32,000 after buying an additional 68 shares during the last quarter. TCTC Holdings LLC lifted its stake in shares of LPL Financial by 116.7% in the 1st quarter. TCTC Holdings LLC now owns 104 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 56 shares during the period. Finally, Maseco LLP acquired a new stake in shares of LPL Financial in the 2nd quarter worth $34,000. Institutional investors and hedge funds own 95.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Morgan Stanley cut their price target on shares of LPL Financial from $490.00 to $462.00 and set an “overweight” rating for the company in a report on Wednesday, October 1st. BMO Capital Markets assumed coverage on LPL Financial in a research report on Friday, October 3rd. They set an “outperform” rating and a $365.00 target price on the stock. Wells Fargo & Company increased their target price on LPL Financial from $402.00 to $420.00 and gave the stock an “overweight” rating in a research note on Friday, July 11th. TD Cowen lifted their price target on LPL Financial from $356.00 to $410.00 and gave the company a “hold” rating in a research note on Monday. Finally, Raymond James Financial raised LPL Financial from an “underperform” rating to a “market perform” rating in a report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, LPL Financial presently has an average rating of “Moderate Buy” and an average target price of $429.00.

Insiders Place Their Bets

In related news, Director Aneri Jambusaria sold 80 shares of the company’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $361.25, for a total value of $28,900.00. Following the completion of the transaction, the director directly owned 5,582 shares in the company, valued at approximately $2,016,497.50. This represents a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Greg Gates sold 750 shares of the company’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $314.42, for a total transaction of $235,815.00. Following the transaction, the director directly owned 16,870 shares of the company’s stock, valued at approximately $5,304,265.40. This represents a 4.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 2,330 shares of company stock valued at $772,030. Company insiders own 1.30% of the company’s stock.

LPL Financial Stock Up 0.0%

Shares of NASDAQ LPLA opened at $374.54 on Thursday. LPL Financial Holdings Inc. has a 12-month low of $262.83 and a 12-month high of $403.58. The company has a debt-to-equity ratio of 1.49, a current ratio of 2.60 and a quick ratio of 3.22. The firm’s 50-day moving average is $340.46 and its two-hundred day moving average is $357.74. The company has a market capitalization of $29.98 billion, a PE ratio of 34.49, a price-to-earnings-growth ratio of 0.84 and a beta of 0.63.

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

LPL Financial Dividend Announcement

The company 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 $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Thursday, November 13th. LPL Financial’s payout ratio is presently 11.05%.

LPL Financial Profile

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.