Northpointe Capital LLC boosted its holdings in shares of LPL Financial Holdings Inc (NASDAQ:LPLA) by 7.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,786 shares of the financial services provider’s stock after acquiring an additional 4,439 shares during the period. LPL Financial comprises about 1.3% of Northpointe Capital LLC’s portfolio, making the stock its 26th largest position. Northpointe Capital LLC owned approximately 0.07% of LPL Financial worth $4,234,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of LPLA. BlackRock Inc. boosted its holdings in shares of LPL Financial by 0.8% in the 3rd quarter. BlackRock Inc. now owns 4,142,421 shares of the financial services provider’s stock valued at $267,226,000 after buying an additional 34,253 shares in the last quarter. LPL Financial LLC boosted its holdings in shares of LPL Financial by 11.1% in the 4th quarter. LPL Financial LLC now owns 20,196 shares of the financial services provider’s stock valued at $1,234,000 after buying an additional 2,011 shares in the last quarter. Boston Advisors LLC bought a new stake in shares of LPL Financial in the 4th quarter valued at about $4,092,000. CIBC Asset Management Inc boosted its holdings in shares of LPL Financial by 14.0% in the 4th quarter. CIBC Asset Management Inc now owns 35,780 shares of the financial services provider’s stock valued at $2,185,000 after buying an additional 4,405 shares in the last quarter. Finally, APG Asset Management N.V. boosted its holdings in shares of LPL Financial by 75.7% in the 4th quarter. APG Asset Management N.V. now owns 887,500 shares of the financial services provider’s stock valued at $47,420,000 after buying an additional 382,400 shares in the last quarter. Institutional investors own 93.97% of the company’s stock.
LPLA remained flat at $$74.46 during trading on Wednesday. 164,063 shares of the company’s stock were exchanged, compared to its average volume of 636,881. LPL Financial Holdings Inc has a 12 month low of $52.03 and a 12 month high of $79.34. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 2.44. The stock has a market cap of $6.28 billion, a price-to-earnings ratio of 13.97, a PEG ratio of 0.75 and a beta of 1.62.
LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings results on Thursday, January 31st. The financial services provider reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.12. LPL Financial had a net margin of 8.47% and a return on equity of 46.58%. The company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.36 billion. As a group, equities research analysts anticipate that LPL Financial Holdings Inc will post 6.53 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.34%. The ex-dividend date was Thursday, March 14th. LPL Financial’s dividend payout ratio (DPR) is 18.76%.
LPLA has been the subject of a number of recent analyst reports. BidaskClub cut shares of LPL Financial from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Zacks Investment Research cut shares of LPL Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, February 12th. Citigroup lifted their target price on shares of LPL Financial to $100.00 and gave the stock a “buy” rating in a research note on Friday, February 1st. Morgan Stanley set a $70.00 target price on shares of LPL Financial and gave the stock a “hold” rating in a research note on Friday, February 8th. Finally, Compass Point initiated coverage on shares of LPL Financial in a research note on Monday, March 11th. They issued a “buy” rating and a $82.00 target price for the company. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $81.22.
In other news, CEO Dan H. Arnold sold 7,113 shares of LPL Financial stock in a transaction that occurred on Tuesday, February 26th. The shares were sold at an average price of $77.34, for a total transaction of $550,119.42. Following the completion of the transaction, the chief executive officer now directly owns 229,761 shares of the company’s stock, valued at approximately $17,769,715.74. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Michelle Oroschakoff sold 1,214 shares of LPL Financial stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $73.81, for a total transaction of $89,605.34. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 128,752 shares of company stock valued at $9,742,408. Insiders own 2.20% of the company’s stock.
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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 financial institutions in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, retirement and 529 education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and business development companies.
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