Financiere des Professionnels Fonds d investissement inc. Invests $3.75 Million in LPL Financial Holdings Inc. $LPLA

Financiere des Professionnels Fonds d investissement inc. purchased a new stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) in the first quarter, HoldingsChannel reports. The firm purchased 12,449 shares of the financial services provider’s stock, valued at approximately $3,745,000.

Several other institutional investors have also made changes to their positions in LPLA. Osterweis Capital Management Inc. acquired a new stake in LPL Financial during the second quarter worth approximately $26,000. Clearstead Advisors LLC raised its holdings in LPL Financial by 3,650.0% in the 4th quarter. Clearstead Advisors LLC now owns 75 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 73 shares in the last quarter. Steigerwald Gordon & Koch Inc. raised its holdings in LPL Financial by 550.0% in the 4th quarter. Steigerwald Gordon & Koch Inc. now owns 78 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 66 shares in the last quarter. Core Wealth Advisors LLC bought a new stake in shares of LPL Financial during the 4th quarter valued at $36,000. Finally, Physician Wealth Advisors Inc. lifted its position in shares of LPL Financial by 580.0% during the 1st quarter. Physician Wealth Advisors Inc. now owns 136 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 116 shares during the period. 95.66% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

LPLA has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised their price target on LPL Financial from $390.00 to $408.00 and gave the stock an “overweight” rating in a research report on Monday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LPL Financial in a research report on Monday, April 27th. TD Cowen reduced their price objective on shares of LPL Financial from $330.00 to $326.00 and set a “hold” rating on the stock in a research note on Friday, May 1st. Keefe, Bruyette & Woods initiated coverage on shares of LPL Financial in a research note on Wednesday, April 8th. They set an “outperform” rating and a $350.00 price objective on the stock. Finally, UBS Group decreased their target price on shares of LPL Financial from $395.00 to $391.00 and set a “buy” rating on the stock in a report on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, LPL Financial presently has a consensus rating of “Moderate Buy” and an average price target of $397.92.

LPL Financial Stock Up 0.5%

Shares of NASDAQ LPLA opened at $330.77 on Friday. The company has a current ratio of 2.56, a quick ratio of 2.56 and a debt-to-equity ratio of 1.26. The company has a market cap of $26.45 billion, a price-to-earnings ratio of 29.53, a PEG ratio of 0.64 and a beta of 0.50. LPL Financial Holdings Inc. has a 12 month low of $260.15 and a 12 month high of $403.58. The stock has a 50-day moving average price of $292.99 and a two-hundred day moving average price of $318.25.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings results on Thursday, April 30th. The financial services provider reported $5.60 earnings per share for the quarter, beating analysts’ consensus estimates of $5.49 by $0.11. The company had revenue of $4.94 billion for the quarter, compared to the consensus estimate of $4.98 billion. LPL Financial had a net margin of 4.93% and a return on equity of 31.26%. The firm’s quarterly revenue was up 34.6% compared to the same quarter last year. During the same period last year, the company posted $5.15 EPS. As a group, analysts forecast that LPL Financial Holdings Inc. will post 23.38 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 21st were paid a $0.30 dividend. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $1.20 annualized dividend and a yield of 0.4%. LPL Financial’s dividend payout ratio is presently 10.71%.

Insiders Place Their Bets

In other LPL Financial news, Director Aneri Jambusaria sold 308 shares of the firm’s 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 owned 6,415 shares in the company, valued at $1,962,990. This trade represents a 4.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is owned by corporate insiders.

About LPL Financial

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.