Cantillon Capital Management LLC Sells 44,141 Shares of LPL Financial Holdings Inc. $LPLA

Cantillon Capital Management LLC trimmed its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 12.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 324,927 shares of the financial services provider’s stock after selling 44,141 shares during the quarter. Cantillon Capital Management LLC owned 0.41% of LPL Financial worth $97,748,000 at the end of the most recent reporting period.

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

LPL Financial Price Performance

NASDAQ:LPLA opened at $324.90 on Monday. The firm has a market cap of $25.99 billion, a PE ratio of 29.01, a price-to-earnings-growth ratio of 0.63 and a beta of 0.50. LPL Financial Holdings Inc. has a 12 month low of $260.15 and a 12 month high of $403.58. The company has a quick ratio of 2.56, a current ratio of 2.56 and a debt-to-equity ratio of 1.26. The company’s 50-day moving average price is $293.42 and its two-hundred day moving average price is $317.96.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data on Thursday, April 30th. The financial services provider reported $5.60 earnings per share for the quarter, topping the consensus estimate of $5.49 by $0.11. LPL Financial had a net margin of 4.93% and a return on equity of 31.26%. The firm had revenue of $4.94 billion for the quarter, compared to analysts’ expectations of $4.98 billion. During the same period in the prior year, the firm earned $5.15 earnings per share. The company’s quarterly revenue was up 34.6% compared to the same quarter last year. On average, equities analysts anticipate that LPL Financial Holdings Inc. will post 23.38 EPS for the current fiscal year.

LPL Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 21st were given a dividend of $0.30 per share. The ex-dividend date was Thursday, May 21st. This represents a $1.20 dividend on an annualized basis and a yield of 0.4%. LPL Financial’s dividend payout ratio is 10.71%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Morgan Stanley raised their price target on shares of LPL Financial from $374.00 to $387.00 and gave the stock an “overweight” rating in a research note on Friday, July 10th. William Blair reiterated an “outperform” rating on shares of LPL Financial in a research note on Thursday, June 4th. Keefe, Bruyette & Woods started coverage on LPL Financial in a research report on Wednesday, April 8th. They set an “outperform” rating and a $350.00 target price for the company. TD Cowen decreased their price target on LPL Financial from $330.00 to $326.00 and set a “hold” rating on the stock in a research note on Friday, May 1st. Finally, UBS Group decreased their price target on LPL Financial from $395.00 to $391.00 and set a “buy” rating on the stock in a research note on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, LPL Financial presently has an average rating of “Moderate Buy” and a consensus target price of $397.92.

Insider Buying and Selling

In related news, Director Aneri Jambusaria sold 308 shares of the firm’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $306.00, for a total transaction of $94,248.00. Following the completion of the sale, the director directly owned 6,415 shares of the company’s stock, valued at $1,962,990. This trade represents a 4.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is currently owned by company insiders.

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.