Coronation Fund Managers Ltd. Has $87.37 Million Holdings in LPL Financial Holdings Inc. $LPLA

Coronation Fund Managers Ltd. raised its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 27.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 290,443 shares of the financial services provider’s stock after acquiring an additional 62,178 shares during the quarter. LPL Financial makes up about 4.0% of Coronation Fund Managers Ltd.’s investment portfolio, making the stock its 6th biggest position. Coronation Fund Managers Ltd. owned about 0.36% of LPL Financial worth $87,374,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of LPL Financial during the fourth quarter worth about $450,493,000. M&T Bank Corp lifted its holdings in LPL Financial by 27,955.5% in the 4th quarter. M&T Bank Corp now owns 1,141,019 shares of the financial services provider’s stock worth $407,538,000 after purchasing an additional 1,136,952 shares in the last quarter. Norges Bank bought a new position in LPL Financial in the 4th quarter worth approximately $371,616,000. Capital World Investors boosted its stake in 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 worth $1,294,869,000 after purchasing an additional 996,806 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in LPL Financial by 36.3% during 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 buying an additional 702,061 shares in the last quarter. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of LPL Financial in a report on Monday, April 27th. Barclays reduced their price target on shares of LPL Financial from $412.00 to $394.00 and set an “overweight” rating on the stock in a report on Thursday, July 9th. William Blair reiterated an “outperform” rating on shares of LPL Financial in a research note on Thursday, June 4th. Citizens Jmp reissued a “market outperform” rating and set a $500.00 price objective on shares of LPL Financial in a report on Monday, April 6th. Finally, Morgan Stanley raised their price objective on LPL Financial from $374.00 to $387.00 and gave the company an “overweight” rating in a research report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $397.92.

LPL Financial Trading Down 0.3%

LPLA stock opened at $327.38 on Thursday. The firm has a fifty day moving average price of $295.39 and a 200 day moving average price of $317.33. LPL Financial Holdings Inc. has a fifty-two week low of $260.15 and a fifty-two week high of $403.58. The firm has a market cap of $26.18 billion, a PE ratio of 29.23, a price-to-earnings-growth ratio of 0.64 and a beta of 0.50. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.56 and a current ratio of 2.56.

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

LPL Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Thursday, May 21st. LPL Financial’s dividend payout ratio is currently 10.71%.

Insider Activity at LPL Financial

In related news, Director Aneri Jambusaria sold 308 shares of the stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $306.00, for a total value of $94,248.00. Following the completion of the transaction, the director owned 6,415 shares of the company’s stock, valued at approximately $1,962,990. This trade represents a 4.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.60% of the company’s stock.

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.