Nykredit A S Acquires New Shares in LPL Financial Holdings Inc. $LPLA

Nykredit A S acquired a new position in LPL Financial Holdings Inc. (NASDAQ:LPLA) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 33,242 shares of the financial services provider’s stock, valued at approximately $9,364,000.

Other hedge funds have also recently bought and sold shares of the company. NewEdge Advisors LLC boosted its stake in shares of LPL Financial by 42.7% during the 1st quarter. NewEdge Advisors LLC now owns 3,525 shares of the financial services provider’s stock worth $1,153,000 after acquiring an additional 1,055 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of LPL Financial by 0.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 209,126 shares of the financial services provider’s stock valued at $68,414,000 after acquiring an additional 1,089 shares in the last quarter. Woodline Partners LP acquired a new stake in LPL Financial in the 1st quarter worth approximately $1,636,000. Focus Partners Wealth boosted its position in LPL Financial by 12.2% during the first quarter. Focus Partners Wealth now owns 4,360 shares of the financial services provider’s stock worth $1,426,000 after purchasing an additional 473 shares during the period. Finally, Acadian Asset Management LLC acquired a new position in LPL Financial during the first quarter valued at approximately $121,000. 95.66% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of LPL Financial in a research note on Friday, July 24th. William Blair restated an “outperform” rating on shares of LPL Financial in a report on Thursday, June 4th. Wolfe Research reaffirmed an “outperform” rating and issued a $454.00 price target on shares of LPL Financial in a research report on Wednesday, August 12th. Truist Financial assumed coverage on LPL Financial in a research report on Tuesday. They set a “hold” rating and a $389.00 price objective for the company. Finally, Morgan Stanley raised their target price on LPL Financial from $374.00 to $387.00 and gave the company an “overweight” rating in a report on Friday, July 10th. Twelve investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $405.79.

LPL Financial Price Performance

Shares of LPL Financial stock opened at $359.33 on Friday. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.39 and a quick ratio of 2.39. The company has a market cap of $28.29 billion, a PE ratio of 28.65, a price-to-earnings-growth ratio of 0.60 and a beta of 0.48. The firm has a fifty day moving average price of $340.76 and a two-hundred day moving average price of $315.54. LPL Financial Holdings Inc. has a fifty-two week low of $260.15 and a fifty-two week high of $400.16.

LPL Financial (NASDAQ:LPLA) last posted 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 company had revenue of $5.19 billion for the quarter, compared to the consensus estimate of $5.04 billion. LPL Financial had a net margin of 5.13% and a return on equity of 32.20%. During the same quarter in the previous year, the firm posted $4.51 EPS. The business’s revenue was up 35.2% compared to the same quarter last year. Analysts expect that LPL Financial Holdings Inc. will post 24.06 EPS for the current year.

LPL Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.3%. The ex-dividend date was Friday, August 14th. LPL Financial’s payout ratio is currently 9.57%.

Insider Buying and Selling at LPL Financial

In other LPL Financial news, Director Aneri Jambusaria sold 308 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $357.36, for a total value of $110,066.88. Following the completion of the transaction, the director owned 6,107 shares of the company’s stock, valued at $2,182,397.52. This represents a 4.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at 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 firm’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $352.72, for a total value of $352,720.00. Following the completion of the sale, the director owned 13,121 shares of the company’s stock, valued at $4,628,039.12. This represents 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. Insiders sold a total of 5,735 shares of company stock valued at $2,020,845 in the last quarter. Corporate 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.