Nordea Investment Management AB Acquires 818 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Nordea Investment Management AB grew its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA – Get Rating) by 0.9% during the first quarter, Holdings Channel.com reports. The institutional investor owned 89,167 shares of the financial services provider’s stock after purchasing an additional 818 shares during the quarter. Nordea Investment Management AB’s holdings in LPL Financial were worth $16,772,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the business. American Trust bought a new position in shares of LPL Financial during the 4th quarter worth approximately $708,000. Walleye Capital LLC boosted its holdings in shares of LPL Financial by 130.4% during the 4th quarter. Walleye Capital LLC now owns 6,765 shares of the financial services provider’s stock worth $1,083,000 after buying an additional 3,829 shares in the last quarter. Quent Capital LLC bought a new position in shares of LPL Financial in the 4th quarter worth $105,000. Tyler Stone Wealth Management bought a new position in shares of LPL Financial in the 4th quarter worth $63,000. Finally, Future Fund LLC bought a new position in shares of LPL Financial in the 4th quarter worth $370,000. Hedge funds and other institutional investors own 96.06% of the company’s stock.

In related news, CEO Dan H. Arnold sold 19,508 shares of LPL Financial stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $200.36, for a total value of $3,908,622.88. Following the completion of the sale, the chief executive officer now owns 162,608 shares of the company’s stock, valued at approximately $32,580,138.88. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Michelle Oroschakoff sold 15,724 shares of LPL Financial stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $172.23, for a total value of $2,708,144.52. Following the completion of the sale, the director now directly owns 42,068 shares of the company’s stock, valued at approximately $7,245,371.64. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

A number of brokerages recently issued reports on LPLA. Citigroup increased their target price on LPL Financial from $225.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, April 14th. Morgan Stanley increased their target price on LPL Financial from $246.00 to $263.00 and gave the stock an “overweight” rating in a report on Wednesday, April 13th. StockNews.com cut LPL Financial from a “hold” rating to a “sell” rating in a report on Monday, May 2nd. Truist Financial increased their target price on LPL Financial from $200.00 to $230.00 in a report on Tuesday, May 3rd. Finally, JMP Securities raised LPL Financial from a “market perform” rating to an “outperform” rating and set a $242.00 price target for the company in a research report on Thursday, April 7th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $228.86.

NASDAQ LPLA opened at $177.78 on Friday. The firm has a market capitalization of $14.22 billion, a P/E ratio of 31.30, a PEG ratio of 0.53 and a beta of 0.95. The business has a fifty day simple moving average of $189.62 and a 200 day simple moving average of $179.31. LPL Financial Holdings Inc. has a 12 month low of $127.03 and a 12 month high of $220.80. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 1.57.

LPL Financial (NASDAQ:LPLA – Get Rating) last announced its earnings results on Thursday, April 28th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.16. LPL Financial had a return on equity of 35.82% and a net margin of 5.74%. The firm had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same period last year, the firm posted $1.77 EPS. The business’s revenue was up 21.0% compared to the same quarter last year. As a group, sell-side analysts predict that LPL Financial Holdings Inc. will post 9.69 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 24th. Stockholders of record on Thursday, June 9th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.56%. The ex-dividend date is Wednesday, June 8th. LPL Financial’s dividend payout ratio is presently 17.61%.

LPL Financial Company Profile (Get Rating)

LPL Financial Holdings Inc, together with its subsidiaries, provides an integrated platform of brokerage and investment advisory services to independent financial advisors and financial advisors at financial institutions in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, retirement and education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and auction rate notes.

See Also