LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Bought by Intech Investment Management LLC

Intech Investment Management LLC boosted its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 38.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 41,850 shares of the financial services provider’s stock after purchasing an additional 11,703 shares during the quarter. Intech Investment Management LLC owned about 0.06% of LPL Financial worth $11,057,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in LPLA. B. Riley Wealth Advisors Inc. increased its holdings in shares of LPL Financial by 63.4% during the third quarter. B. Riley Wealth Advisors Inc. now owns 2,211 shares of the financial services provider’s stock valued at $525,000 after purchasing an additional 858 shares during the period. Nordea Investment Management AB lifted its holdings in shares of LPL Financial by 3.6% in the fourth quarter. Nordea Investment Management AB now owns 5,629 shares of the financial services provider’s stock valued at $1,287,000 after buying an additional 198 shares during the period. Raymond James Trust N.A. boosted its stake in LPL Financial by 1.8% during the fourth quarter. Raymond James Trust N.A. now owns 5,762 shares of the financial services provider’s stock valued at $1,312,000 after buying an additional 100 shares in the last quarter. OneAscent Financial Services LLC acquired a new stake in LPL Financial in the 4th quarter valued at about $238,000. Finally, Compagnie Lombard Odier SCmA boosted its position in shares of LPL Financial by 28.0% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 12,431 shares of the financial services provider’s stock valued at $2,830,000 after purchasing an additional 2,716 shares in 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 subject of several recent research reports. JPMorgan Chase & Co. increased their target price on shares of LPL Financial from $261.00 to $268.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. Barclays decreased their price objective on shares of LPL Financial from $319.00 to $313.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. JMP Securities reaffirmed a “market outperform” rating and set a $305.00 target price on shares of LPL Financial in a research note on Wednesday, May 1st. Jefferies Financial Group lifted their price objective on LPL Financial from $322.00 to $334.00 and gave the company a “buy” rating in a research report on Monday, July 8th. Finally, Morgan Stanley upgraded LPL Financial from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $254.00 to $315.00 in a report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, LPL Financial currently has a consensus rating of “Hold” and a consensus target price of $285.20.

Insider Activity

In related news, CEO Dan H. Arnold sold 5,677 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $277.31, for a total value of $1,574,288.87. Following the completion of the sale, the chief executive officer now owns 142,608 shares in the company, valued at $39,546,624.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.30% of the stock is owned by company insiders.

LPL Financial Stock Performance

LPLA stock traded down $7.30 during midday trading on Friday, hitting $211.62. 4,331,346 shares of the company traded hands, compared to its average volume of 954,589. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 1.70. The business has a 50 day simple moving average of $272.75 and a 200-day simple moving average of $262.19. The stock has a market capitalization of $15.81 billion, a price-to-earnings ratio of 15.98, a price-to-earnings-growth ratio of 0.84 and a beta of 0.90. LPL Financial Holdings Inc. has a twelve month low of $200.18 and a twelve month high of $289.88.

LPL Financial (NASDAQ:LPLA) last announced its earnings results on Tuesday, April 30th. The financial services provider reported $4.21 EPS for the quarter, topping the consensus estimate of $3.77 by $0.44. LPL Financial had a net margin of 9.71% and a return on equity of 55.22%. The firm had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.68 billion. As a group, equities research analysts predict that LPL Financial Holdings Inc. will post 15.75 earnings per share for the current year.

LPL Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, May 20th. This represents a $1.20 annualized dividend and a dividend yield of 0.57%. LPL Financial’s dividend payout ratio is presently 9.06%.

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.