Fox Run Management L.L.C. Purchases New Position in LPL Financial Holdings Inc. $LPLA

Fox Run Management L.L.C. purchased a new stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 3,394 shares of the financial services provider’s stock, valued at approximately $1,212,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Osterweis Capital Management Inc. purchased a new position in shares of LPL Financial in the 2nd quarter valued at about $26,000. Clearstead Advisors LLC increased its stake in shares of LPL Financial by 3,650.0% in the 4th quarter. Clearstead Advisors LLC now owns 75 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 73 shares in the last quarter. Steigerwald Gordon & Koch Inc. increased its stake in shares of LPL Financial by 550.0% in the 4th quarter. Steigerwald Gordon & Koch Inc. now owns 78 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 66 shares in the last quarter. Core Wealth Advisors LLC purchased a new stake in LPL Financial during the 4th quarter worth approximately $36,000. Finally, Graney & King LLC increased its stake in LPL Financial by 49.5% during the 2nd quarter. Graney & King LLC now owns 139 shares of the financial services provider’s stock worth $52,000 after buying an additional 46 shares in the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

LPL Financial Price Performance

NASDAQ:LPLA opened at $288.28 on Wednesday. The firm has a market cap of $23.06 billion, a P/E ratio of 25.74, a price-to-earnings-growth ratio of 0.58 and a beta of 0.50. The stock has a 50 day moving average of $302.22 and a two-hundred day moving average of $330.76. LPL Financial Holdings Inc. has a 12 month low of $260.15 and a 12 month high of $403.58. The company has a current ratio of 2.56, a quick ratio of 2.56 and a debt-to-equity ratio of 1.26.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings results on Thursday, April 30th. The financial services provider reported $5.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.49 by $0.11. The business had revenue of $4.94 billion during the quarter, compared to analyst estimates of $4.98 billion. LPL Financial had a return on equity of 31.26% and a net margin of 4.93%.The business’s revenue was up 34.6% compared to the same quarter last year. During the same period in the prior year, the business earned $5.15 earnings per share. On average, analysts expect that LPL Financial Holdings Inc. will post 22.98 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms have commented on LPLA. TD Cowen cut their price objective on LPL Financial from $330.00 to $326.00 and set a “hold” rating for the company in a research note on Friday, May 1st. Morgan Stanley cut their price objective on LPL Financial from $447.00 to $374.00 and set an “overweight” rating for the company in a research note on Friday, April 10th. UBS Group boosted their price objective on LPL Financial from $380.00 to $395.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Jefferies Financial Group cut their price objective on LPL Financial from $464.00 to $383.00 and set a “buy” rating for the company in a research note on Monday, April 6th. Finally, William Blair reiterated an “outperform” rating on shares of LPL Financial in a research note on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $398.86.

Insider Activity

In other news, CFO Matthew J. Audette sold 1,110 shares of the company’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $330.01, for a total value of $366,311.10. Following the completion of the sale, the chief financial officer directly owned 19,803 shares in the company, valued at $6,535,188.03. This represents a 5.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is owned by company insiders.

LPL Financial 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.