Amundi Grows Position in LPL Financial Holdings Inc. $LPLA

Amundi boosted its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 15.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 114,003 shares of the financial services provider’s stock after purchasing an additional 14,975 shares during the quarter. Amundi owned approximately 0.14% of LPL Financial worth $42,919,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Summit Securities Group LLC purchased a new position in LPL Financial during the 1st quarter valued at about $26,000. SBI Securities Co. Ltd. increased its stake in shares of LPL Financial by 116.2% during the second quarter. SBI Securities Co. Ltd. now owns 80 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 43 shares in the last quarter. Maseco LLP purchased a new position in shares of LPL Financial during the second quarter valued at approximately $34,000. Bayforest Capital Ltd bought a new stake in shares of LPL Financial in the 2nd quarter worth approximately $34,000. Finally, Smithfield Trust Co boosted its position in shares of LPL Financial by 29.4% in the 2nd quarter. Smithfield Trust Co now owns 154 shares of the financial services provider’s stock worth $58,000 after purchasing an additional 35 shares in the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

LPL Financial Trading Up 1.7%

Shares of LPLA opened at $374.71 on Wednesday. The company has a debt-to-equity ratio of 1.49, a current ratio of 2.60 and a quick ratio of 2.60. The stock has a market cap of $29.99 billion, a price-to-earnings ratio of 34.50, a price-to-earnings-growth ratio of 0.81 and a beta of 0.60. LPL Financial Holdings Inc. has a 1-year low of $262.83 and a 1-year high of $403.58. The firm has a 50 day simple moving average of $348.97 and a 200-day simple moving average of $360.55.

LPL Financial (NASDAQ:LPLA) last released its earnings results on Thursday, October 30th. The financial services provider reported $5.20 earnings per share for the quarter, topping the consensus estimate of $4.49 by $0.71. LPL Financial had a return on equity of 36.80% and a net margin of 5.35%.The firm had revenue of $4.55 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same period in the prior year, the business posted $4.16 earnings per share. The firm’s revenue for the quarter was up 46.4% compared to the same quarter last year. Equities analysts forecast that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Thursday, November 13th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Thursday, November 13th. LPL Financial’s payout ratio is presently 11.05%.

Analysts Set New Price Targets

LPLA has been the subject of a number of recent analyst reports. UBS Group set a $455.00 price objective on shares of LPL Financial in a report on Thursday, October 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LPL Financial in a research report on Friday, October 31st. BMO Capital Markets assumed coverage on LPL Financial in a research report on Friday, October 3rd. They set an “outperform” rating and a $365.00 target price on the stock. Raymond James Financial upgraded shares of LPL Financial from an “underperform” rating to a “market perform” rating in a research report on Thursday, October 9th. Finally, JPMorgan Chase & Co. lowered their price target on LPL Financial from $463.00 to $438.00 and set an “overweight” rating on the stock in a report on Monday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $429.00.

Insider Activity

In other LPL Financial news, Director Greg Gates sold 1,500 shares of the stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $376.43, for a total transaction of $564,645.00. Following the transaction, the director owned 15,370 shares of the company’s stock, valued at $5,785,729.10. This trade represents a 8.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Aneri Jambusaria sold 80 shares of LPL Financial stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $352.48, for a total value of $28,198.40. Following the completion of the transaction, the director owned 5,502 shares of the company’s stock, valued at approximately $1,939,344.96. The trade was a 1.43% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 8,138 shares of company stock worth $2,983,353. 0.70% of the stock is currently owned by company insiders.

LPL Financial Profile

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 enterprises in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, fixed income, alternative investments, retirement and 529 education savings plans, and insurance.