Danske Bank A S Buys New Position in LPL Financial Holdings Inc. $LPLA

Danske Bank A S bought a new position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 94,640 shares of the financial services provider’s stock, valued at approximately $26,658,000. Danske Bank A S owned approximately 0.12% of LPL Financial at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. BlackRock Inc. bought a new stake in shares of LPL Financial in the second quarter worth $1,333,189,000. Dodge & Cox boosted 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 valued at $1,410,454,000 after acquiring an additional 619,715 shares during the period. Janus Henderson Group PLC boosted its position 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 valued at $1,103,079,000 after purchasing an additional 289,227 shares during the period. Capital World Investors boosted its holdings in shares of LPL Financial by 37.9% during the fourth quarter. Capital World Investors now owns 3,625,357 shares of the financial services provider’s stock valued at $1,294,869,000 after acquiring an additional 996,806 shares during the period. Finally, Principal Financial Group Inc. increased its stake in shares of LPL Financial by 36.3% in the first 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 during the period. Institutional investors and hedge funds own 95.66% of the company’s stock.

Insider Activity at LPL Financial

In other LPL Financial news, Director Aneri Jambusaria sold 308 shares of LPL Financial 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 transaction, the director owned 6,415 shares in the company, valued at approximately $1,962,990. The trade was a 4.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew Enyedi sold 1,000 shares of the company’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $352.72, for a total value of $352,720.00. Following the completion of the transaction, the director directly owned 13,121 shares in the company, valued at $4,628,039.12. This represents a 7.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on LPLA shares. BMO Capital Markets upped their price target on shares of LPL Financial from $300.00 to $390.00 and gave the stock an “outperform” rating in a research note on Monday, August 3rd. Barclays raised their price objective on shares of LPL Financial from $394.00 to $401.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. 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 report on Friday, July 31st. TD Cowen upped their target price on LPL Financial from $330.00 to $372.00 and gave the stock a “hold” rating in a research report on Friday, July 31st. Finally, Wolfe Research reaffirmed an “outperform” rating and set a $454.00 price target on shares of LPL Financial in a research note on Wednesday, August 12th. Twelve equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $406.69.

LPL Financial Price Performance

Shares of NASDAQ LPLA opened at $359.23 on Thursday. LPL Financial Holdings Inc. has a twelve month low of $260.15 and a twelve month high of $400.16. The company has a current ratio of 2.39, a quick ratio of 2.39 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $28.29 billion, a price-to-earnings ratio of 28.65, a PEG ratio of 0.62 and a beta of 0.48. The firm has a 50-day moving average of $323.90 and a two-hundred day moving average of $315.62.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $5.84 earnings per share for the quarter, beating the consensus estimate of $5.39 by $0.45. LPL Financial had a net margin of 5.13% and a return on equity of 32.20%. The company had revenue of $5.19 billion during the quarter, compared to analyst estimates of $5.04 billion. During the same quarter last year, the firm posted $4.51 EPS. The business’s revenue for the quarter was up 35.2% on a year-over-year basis. As a group, analysts expect that LPL Financial Holdings Inc. will post 24.09 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 Friday, August 28th. Investors of record on Friday, August 14th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Friday, August 14th. LPL Financial’s dividend payout ratio (DPR) is presently 9.57%.

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.