Bamco Inc. NY Increases Stock Holdings in LPL Financial Holdings Inc. $LPLA

Bamco Inc. NY lifted its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 34.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 222,479 shares of the financial services provider’s stock after buying an additional 57,228 shares during the quarter. Bamco Inc. NY owned approximately 0.28% of LPL Financial worth $83,423,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Cullen Frost Bankers Inc. raised its position in LPL Financial by 9.9% during the second quarter. Cullen Frost Bankers Inc. now owns 301 shares of the financial services provider’s stock worth $113,000 after acquiring an additional 27 shares during the last quarter. Compass Financial Services Inc grew its position in shares of LPL Financial by 14.5% in the first quarter. Compass Financial Services Inc now owns 229 shares of the financial services provider’s stock valued at $75,000 after purchasing an additional 29 shares during the last quarter. Camden National Bank increased its stake in shares of LPL Financial by 3.1% during the 2nd quarter. Camden National Bank now owns 967 shares of the financial services provider’s stock worth $363,000 after purchasing an additional 29 shares in the last quarter. Perennial Investment Advisors LLC raised its position in shares of LPL Financial by 4.0% during the 2nd quarter. Perennial Investment Advisors LLC now owns 804 shares of the financial services provider’s stock worth $302,000 after purchasing an additional 31 shares during the last quarter. Finally, Magnolia Private Wealth LLC lifted its stake in LPL Financial by 2.0% in the 2nd quarter. Magnolia Private Wealth LLC now owns 1,662 shares of the financial services provider’s stock valued at $623,000 after buying an additional 33 shares in the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.

LPL Financial Price Performance

LPL Financial stock opened at $380.96 on Friday. LPL Financial Holdings Inc. has a 1 year low of $262.83 and a 1 year high of $403.58. The company has a debt-to-equity ratio of 1.49, a quick ratio of 2.60 and a current ratio of 2.60. The firm has a 50 day moving average price of $353.19 and a 200 day moving average price of $360.98. The company has a market cap of $30.49 billion, a price-to-earnings ratio of 35.08, a PEG ratio of 0.96 and a beta of 0.60.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings results on Thursday, October 30th. The financial services provider reported $5.20 earnings per share for the quarter, beating analysts’ consensus estimates of $4.49 by $0.71. The company had revenue of $4.55 billion for the quarter, compared to analyst estimates of $4.08 billion. LPL Financial had a net margin of 5.35% and a return on equity of 36.80%. LPL Financial’s revenue for the quarter was up 46.4% on a year-over-year basis. During the same quarter last year, the business earned $4.16 EPS. Sell-side analysts predict that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 1st. Shareholders 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 yield of 0.3%. The ex-dividend date of this dividend was Thursday, November 13th. LPL Financial’s payout ratio is 11.05%.

Insiders Place Their Bets

In other news, Director Aneri Jambusaria sold 80 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $352.48, for a total transaction of $28,198.40. Following the completion of the sale, the director owned 5,502 shares in the company, valued at approximately $1,939,344.96. The trade was a 1.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Greg Gates sold 750 shares of the stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $370.97, for a total transaction of $278,227.50. Following the sale, the director directly owned 14,620 shares of the company’s stock, valued at approximately $5,423,581.40. This trade represents a 4.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 8,138 shares of company stock worth $2,983,353 over the last three months. 1.30% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on LPLA shares. Weiss Ratings reissued a “hold (c)” rating on shares of LPL Financial in a research report on Friday, October 31st. BMO Capital Markets initiated coverage on LPL Financial in a research report on Friday, October 3rd. They set an “outperform” rating and a $365.00 price objective for the company. Raymond James Financial upgraded shares of LPL Financial from an “underperform” rating to a “market perform” rating in a report on Thursday, October 9th. JPMorgan Chase & Co. decreased their price target on shares of LPL Financial from $463.00 to $438.00 and set an “overweight” rating on the stock in a research note on Monday, October 20th. Finally, Barclays boosted their price objective on shares of LPL Financial from $420.00 to $453.00 and gave the company an “overweight” rating in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, LPL Financial currently has an average rating of “Moderate Buy” and a consensus price target of $427.86.

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.