4,198,356 Shares in LPL Financial Holdings Inc. $LPLA Bought by Jupiter Topco LLC

Jupiter Topco LLC purchased a new position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,198,356 shares of the financial services provider’s stock, valued at approximately $1,182,595,000. Jupiter Topco LLC owned 0.05% of LPL Financial at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. BlackRock Inc. purchased a new stake in shares of LPL Financial during the second quarter worth approximately $1,333,189,000. Dodge & Cox lifted its stake in LPL Financial by 18.6% in the fourth quarter. Dodge & Cox now owns 3,948,970 shares of the financial services provider’s stock worth $1,410,454,000 after acquiring an additional 619,715 shares during the last quarter. Janus Henderson Group PLC grew its holdings in LPL Financial by 8.6% during the 1st quarter. Janus Henderson Group PLC now owns 3,666,780 shares of the financial services provider’s stock worth $1,103,079,000 after acquiring an additional 289,227 shares in the last quarter. Capital World Investors increased its position in shares of LPL Financial by 37.9% in the 4th quarter. Capital World Investors now owns 3,625,357 shares of the financial services provider’s stock valued at $1,294,869,000 after purchasing an additional 996,806 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of LPL Financial by 36.3% in the 1st quarter. Principal Financial Group Inc. now owns 2,636,544 shares of the financial services provider’s stock valued at $793,163,000 after purchasing an additional 702,061 shares in the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

LPL Financial Stock Performance

Shares of LPLA opened at $361.88 on Wednesday. LPL Financial Holdings Inc. has a 1 year low of $260.15 and a 1 year high of $400.16. The company’s fifty day moving average is $329.13 and its two-hundred day moving average is $315.09. The stock has a market capitalization of $28.49 billion, a P/E ratio of 28.86, a P/E/G ratio of 0.61 and a beta of 0.48. The company has a debt-to-equity ratio of 1.30, a quick ratio of 2.39 and a current ratio of 2.39.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings results on Thursday, July 30th. The financial services provider reported $5.84 earnings per share for the quarter, beating analysts’ consensus estimates of $5.39 by $0.45. The firm had revenue of $5.19 billion for the quarter, compared to the consensus estimate of $5.04 billion. LPL Financial had a return on equity of 32.20% and a net margin of 5.13%.The company’s revenue for the quarter was up 35.2% compared to the same quarter last year. During the same period in the previous year, the business earned $4.51 earnings per share. On average, sell-side analysts predict that LPL Financial Holdings Inc. will post 24.09 earnings per share for the current year.

LPL Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be issued a $0.30 dividend. The ex-dividend date is Friday, August 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.3%. LPL Financial’s dividend payout ratio is currently 9.57%.

Insider Activity

In other news, Director Aneri Jambusaria sold 308 shares of the stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $306.00, for a total value of $94,248.00. Following the sale, the director directly owned 6,415 shares in the company, valued at $1,962,990. This represents a 4.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Greg Gates sold 4,119 shares of LPL Financial stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $355.38, for a total value of $1,463,810.22. Following the transaction, the director owned 23,602 shares of the company’s stock, valued at $8,387,678.76. This represents a 14.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 5,427 shares of company stock worth $1,910,778 over the last 90 days. 0.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on LPLA. Weiss Ratings reissued a “hold (c)” rating on shares of LPL Financial in a report on Friday, July 24th. JPMorgan Chase & Co. boosted their target price on LPL Financial from $408.00 to $428.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. William Blair reiterated an “outperform” rating on shares of LPL Financial in a research note on Thursday, June 4th. UBS Group reduced their price objective on shares of LPL Financial from $395.00 to $391.00 and set a “buy” rating for the company in a research report on Wednesday, July 8th. Finally, TD Cowen increased their target price on shares of LPL Financial from $330.00 to $372.00 and gave the company a “hold” rating in a research report on Friday, July 31st. Twelve analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, LPL Financial presently has an average rating of “Moderate Buy” and a consensus price target of $406.69.

LPL Financial Company Profile

LPL Financial (NASDAQ: LPLA) is a U.S.-focused financial services firm that provides brokerage, custodial and advisory platforms to independent financial advisors, registered investment advisers and institutions. Operating primarily as an independent broker-dealer and custodian, the company supports a network of advisors with the operational, compliance and clearing infrastructure needed to manage client accounts and deliver investment advice outside of traditional wirehouse models.

The firm’s product and service offerings include trade execution and clearing, custody services, retirement plan services, model portfolio and advisory platforms, wealth management technology, investment research and product access across equities, fixed income, mutual funds, exchange-traded funds and insurance and annuity solutions.