118,600 Shares in LPL Financial Holdings Inc. $LPLA Purchased by HMI Capital Management L.P.

HMI Capital Management L.P. acquired a new position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 118,600 shares of the financial services provider’s stock, valued at approximately $33,407,000. LPL Financial accounts for about 4.7% of HMI Capital Management L.P.’s holdings, making the stock its 10th biggest position.

Other large investors have also bought and sold shares of the company. Osterweis Capital Management Inc. bought a new position in shares of LPL Financial in the 2nd quarter worth $26,000. Clearstead Advisors LLC increased its stake in shares of 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 during the last quarter. Core Wealth Advisors LLC acquired a new stake in shares of LPL Financial in the 4th quarter valued at approximately $36,000. Physician Wealth Advisors Inc. raised its position in shares of LPL Financial by 580.0% in 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. Finally, Pinpoint Asset Management Singapore Pte. Ltd. bought a new position in LPL Financial during the 4th quarter worth approximately $50,000. 95.66% of the stock is currently owned by institutional investors and hedge funds.

LPL Financial Stock Performance

LPLA opened at $364.18 on Tuesday. The business’s 50-day moving average price is $327.96 and its two-hundred day moving average price is $315.28. LPL Financial Holdings Inc. has a 1 year low of $260.15 and a 1 year high of $400.16. The company has a market capitalization of $28.68 billion, a price-to-earnings ratio of 29.04, a P/E/G ratio of 0.61 and a beta of 0.48. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.39 and a quick ratio of 2.39.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings results on Thursday, July 30th. The financial services provider reported $5.84 EPS for the quarter, beating analysts’ consensus estimates of $5.39 by $0.45. The company had revenue of $5.19 billion for 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%.The company’s quarterly revenue was up 35.2% compared to the same quarter last year. During the same period in the previous year, the company posted $4.51 earnings per share. 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 announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be paid a $0.30 dividend. The ex-dividend date is Friday, August 14th. This represents a $1.20 annualized dividend and a yield of 0.3%. LPL Financial’s payout ratio is presently 9.57%.

Insiders Place Their Bets

In other news, Director Matthew Enyedi sold 1,000 shares of the business’s stock in a transaction 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 sale, the director owned 13,121 shares of the company’s stock, valued at $4,628,039.12. The trade was a 7.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Greg Gates sold 4,119 shares of the business’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $355.38, for a total transaction of $1,463,810.22. Following the completion of the sale, the director directly owned 23,602 shares in the company, valued at approximately $8,387,678.76. This represents a 14.86% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 5,427 shares of company stock valued at $1,910,778 in the last quarter. 0.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on LPLA. Barclays boosted their price objective on shares of LPL Financial from $394.00 to $401.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Keefe, Bruyette & Woods raised their price target on LPL Financial from $365.00 to $390.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of LPL Financial in a report on Friday, July 24th. JPMorgan Chase & Co. increased their target price on LPL Financial from $408.00 to $428.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. Finally, Wolfe Research restated an “outperform” rating and set a $454.00 target price on shares of LPL Financial in a report on Wednesday, August 12th. Twelve research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $406.69.

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.