231,867 Shares in LPL Financial Holdings Inc. $LPLA Purchased by Caisse de depot et placement du Quebec

Caisse de depot et placement du Quebec purchased a new stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 231,867 shares of the financial services provider’s stock, valued at approximately $65,312,000. Caisse de depot et placement du Quebec owned about 0.29% of LPL Financial as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in LPLA. Osterweis Capital Management Inc. bought a new stake in LPL Financial during the 2nd quarter worth about $26,000. Clearstead Advisors LLC raised its stake in shares of LPL Financial by 3,650.0% in the fourth quarter. Clearstead Advisors LLC now owns 75 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 73 shares during the last quarter. Core Wealth Advisors LLC bought a new position in shares of LPL Financial in the fourth quarter worth about $36,000. Physician Wealth Advisors Inc. lifted its position in shares of LPL Financial by 580.0% during the first 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 position in shares of LPL Financial during the fourth quarter worth approximately $50,000. 95.66% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

LPLA has been the subject of several research analyst reports. TD Cowen boosted their price objective on shares of LPL Financial from $330.00 to $372.00 and gave the stock a “hold” rating in a research report on Friday, July 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of LPL Financial in a research report on Friday, July 24th. UBS Group lowered their target price on LPL Financial from $395.00 to $391.00 and set a “buy” rating for the company in a research note on Wednesday, July 8th. BMO Capital Markets upped their price target on LPL Financial from $300.00 to $390.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Finally, William Blair reiterated an “outperform” rating on shares of LPL Financial in a report on Thursday, June 4th. Twelve equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, LPL Financial presently has a consensus rating of “Moderate Buy” and an average target price of $406.69.

Insiders Place Their Bets

In related news, Director Greg Gates sold 4,119 shares of the stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $355.38, for a total value of $1,463,810.22. Following the sale, the director directly owned 23,602 shares in the company, valued at $8,387,678.76. This trade represents a 14.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Matthew Enyedi sold 1,000 shares of LPL Financial stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $352.72, for a total transaction of $352,720.00. Following the transaction, the director directly owned 13,121 shares in the company, valued at $4,628,039.12. The trade was a 7.08% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 5,427 shares of company stock worth $1,910,778. Insiders own 0.60% of the company’s stock.

LPL Financial Price Performance

Shares of LPLA stock opened at $361.22 on Friday. The firm’s 50 day moving average price is $331.59 and its two-hundred day moving average price is $314.83. The company has a debt-to-equity ratio of 1.30, a quick ratio of 2.39 and a current ratio of 2.39. LPL Financial Holdings Inc. has a 52-week low of $260.15 and a 52-week high of $400.16. The stock has a market cap of $28.44 billion, a PE ratio of 28.81, a PEG ratio of 0.61 and a beta of 0.48.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings results on Thursday, July 30th. The financial services provider reported $5.84 earnings per share for the quarter, beating analysts’ consensus estimates of $5.39 by $0.45. LPL Financial had a return on equity of 32.20% and a net margin of 5.13%.The company had revenue of $5.19 billion for the quarter, compared to the consensus estimate of $5.04 billion. During the same quarter in the prior year, the business posted $4.51 EPS. The firm’s quarterly revenue was up 35.2% on a year-over-year basis. As a group, analysts forecast that LPL Financial Holdings Inc. will post 24.09 EPS for the current year.

LPL Financial Dividend Announcement

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

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.