Skandinaviska Enskilda Banken AB publ Grows Position in LPL Financial Holdings Inc. $LPLA

Skandinaviska Enskilda Banken AB publ raised its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 8.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,474 shares of the financial services provider’s stock after purchasing an additional 1,349 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in LPL Financial were worth $6,551,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in LPLA. F m Investments LLC increased its holdings in shares of LPL Financial by 5.5% during the 2nd quarter. F m Investments LLC now owns 9,046 shares of the financial services provider’s stock worth $3,392,000 after buying an additional 468 shares during the last quarter. Norges Bank acquired a new position in LPL Financial in the second quarter valued at $402,312,000. Northwestern Mutual Wealth Management Co. grew its position in LPL Financial by 11.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 98,138 shares of the financial services provider’s stock valued at $36,799,000 after acquiring an additional 10,445 shares during the period. Grantham Mayo Van Otterloo & Co. LLC purchased a new stake in LPL Financial during the second quarter valued at about $412,000. Finally, State Board of Administration of Florida Retirement System increased its stake in LPL Financial by 3.7% during the second quarter. State Board of Administration of Florida Retirement System now owns 75,765 shares of the financial services provider’s stock worth $28,410,000 after acquiring an additional 2,673 shares during the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

Analysts Set New Price Targets

LPLA has been the topic of several research analyst reports. Raymond James Financial raised LPL Financial from an “underperform” rating to a “market perform” rating in a research note on Thursday, October 9th. UBS Group set a $455.00 price target on shares of LPL Financial in a report on Thursday, October 9th. BMO Capital Markets assumed coverage on shares of LPL Financial in a research report on Friday, October 3rd. They set an “outperform” rating and a $365.00 price target on the stock. Barclays boosted their price objective on shares of LPL Financial from $411.00 to $420.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. Finally, Citizens Jmp lifted their target price on shares of LPL Financial from $455.00 to $475.00 and gave the company a “market outperform” rating in a report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $429.00.

LPL Financial Trading Up 0.7%

NASDAQ LPLA opened at $356.05 on Monday. The stock has a market cap of $28.50 billion, a P/E ratio of 32.79, a PEG ratio of 0.78 and a beta of 0.60. The company’s fifty day simple moving average is $345.02 and its 200-day simple moving average is $361.29. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 1.49. 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 released its quarterly earnings results on Thursday, October 30th. The financial services provider reported $5.20 earnings per share for the quarter, beating analysts’ consensus estimates of $4.49 by $0.71. LPL Financial had a net margin of 5.35% and a return on equity of 36.80%. 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 business earned $4.16 EPS. The business’s revenue was up 46.4% on a year-over-year basis. Equities research analysts predict that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Announces Dividend

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

Insider Activity

In other LPL Financial news, Director Aneri Jambusaria sold 80 shares of LPL Financial stock in a transaction that occurred on Tuesday, September 2nd. The stock was 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. The trade was a 1.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Greg Gates sold 1,500 shares of the stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $338.21, for a total value of $507,315.00. Following the transaction, the director owned 17,620 shares of the company’s stock, valued at approximately $5,959,260.20. This trade represents a 7.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 3,830 shares of company stock worth $1,336,675. Insiders own 0.70% of the company’s stock.

LPL Financial Company 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.