Danske Bank A S Makes New $26.66 Million Investment in LPL Financial Holdings Inc. $LPLA

Danske Bank A S bought a new position in LPL Financial Holdings Inc. (NASDAQ:LPLA) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 94,640 shares of the financial services provider’s stock, valued at approximately $26,658,000.

Other large investors have also made changes to their positions in the company. Osterweis Capital Management Inc. purchased a new stake in shares of LPL Financial in the 2nd quarter valued at approximately $26,000. Clearstead Advisors LLC boosted its stake 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 worth $27,000 after purchasing an additional 73 shares during the period. Core Wealth Advisors LLC purchased a new position in LPL Financial during the 4th quarter worth approximately $36,000. Physician Wealth Advisors Inc. grew its position in LPL Financial by 580.0% during the 1st quarter. Physician Wealth Advisors Inc. now owns 136 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 116 shares in the last quarter. Finally, Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in LPL Financial during the 4th quarter valued at $50,000. Institutional investors and hedge funds own 95.66% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on LPLA. UBS Group reduced their target price on LPL Financial from $395.00 to $391.00 and set a “buy” rating for the company in a report on Wednesday, July 8th. Keefe, Bruyette & Woods upped their price target on LPL Financial from $365.00 to $390.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Barclays upped their price target on LPL Financial from $394.00 to $401.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. William Blair restated an “outperform” rating on shares of LPL Financial in a research report on Thursday, June 4th. Finally, JPMorgan Chase & Co. lifted their target price on LPL Financial from $408.00 to $428.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Twelve analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, LPL Financial presently has an average rating of “Moderate Buy” and a consensus price target of $406.69.

LPL Financial Trading Down 2.6%

Shares of NASDAQ:LPLA opened at $359.23 on Thursday. The firm has a fifty day moving average of $323.90 and a two-hundred day moving average of $315.62. The company has a quick ratio of 2.39, a current ratio of 2.39 and a debt-to-equity ratio of 1.30. LPL Financial Holdings Inc. has a 12-month low of $260.15 and a 12-month high of $400.16. The firm has a market capitalization of $28.29 billion, a P/E ratio of 28.65, a price-to-earnings-growth ratio of 0.62 and a beta of 0.48.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data on Thursday, July 30th. The financial services provider reported $5.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.39 by $0.45. The business had revenue of $5.19 billion during the quarter, compared to analyst estimates of $5.04 billion. LPL Financial had a return on equity of 32.20% and a net margin of 5.13%.LPL Financial’s quarterly revenue was up 35.2% compared to the same quarter last year. During the same period last year, the company earned $4.51 earnings per share. On average, equities analysts expect that LPL Financial Holdings Inc. will post 24.09 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.3%. LPL Financial’s dividend payout ratio (DPR) is 9.57%.

Insider Activity

In other news, Director Aneri Jambusaria sold 308 shares of LPL Financial stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $306.00, for a total transaction of $94,248.00. Following the completion of the sale, the director directly owned 6,415 shares in the company, valued at $1,962,990. The trade was a 4.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew Enyedi sold 1,000 shares of the business’s stock in a transaction that occurred 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 sale, the director directly owned 13,121 shares of the company’s stock, valued at approximately $4,628,039.12. The trade was a 7.08% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is owned by insiders.

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.