Foresight Global Investors Inc. Invests $404,000 in LPL Financial Holdings Inc. $LPLA

Foresight Global Investors Inc. bought a new stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,436 shares of the financial services provider’s stock, valued at approximately $404,000. LPL Financial makes up approximately 0.2% of Foresight Global Investors Inc.’s holdings, making the stock its 22nd biggest holding.

Other institutional investors have also modified their holdings of the company. Osterweis Capital Management Inc. purchased a new position in shares of LPL Financial during the 2nd quarter worth about $26,000. Clearstead Advisors LLC boosted its holdings in shares of LPL Financial by 3,650.0% in the fourth 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 during the period. Core Wealth Advisors LLC bought a new position in shares of LPL Financial during the 4th quarter worth $36,000. Physician Wealth Advisors Inc. grew its position in shares of LPL Financial by 580.0% during the 1st quarter. Physician Wealth Advisors Inc. now owns 136 shares of the financial services provider’s stock worth $41,000 after buying an additional 116 shares in the last quarter. Finally, Pinpoint Asset Management Singapore Pte. Ltd. purchased a new position in shares of LPL Financial during the fourth quarter valued at $50,000. 95.66% of the stock is owned by institutional investors.

LPL Financial Trading Down 2.6%

Shares of LPLA stock opened at $359.23 on Thursday. The company has a market cap of $28.29 billion, a price-to-earnings ratio of 28.65, a PEG ratio of 0.62 and a beta of 0.48. The stock has a 50 day simple moving average of $323.90 and a 200-day simple moving average of $315.62. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.39 and a quick ratio of 2.39. LPL Financial Holdings Inc. has a 1-year low of $260.15 and a 1-year high of $400.16.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $5.84 earnings per share for the quarter, topping analysts’ consensus estimates of $5.39 by $0.45. The company had revenue of $5.19 billion during the quarter, compared to analysts’ expectations of $5.04 billion. LPL Financial had a net margin of 5.13% and a return on equity of 32.20%. The firm’s revenue for the quarter was up 35.2% on a year-over-year basis. During the same period in the prior year, the business posted $4.51 earnings per share. On average, equities research analysts expect that LPL Financial Holdings Inc. will post 24.09 EPS for the current fiscal year.

LPL Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, August 14th. LPL Financial’s dividend payout ratio (DPR) is currently 9.57%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on LPLA. Barclays boosted their price target on shares of LPL Financial from $394.00 to $401.00 and gave the company an “overweight” rating in a report on Friday, July 31st. TD Cowen increased their price target on LPL Financial from $330.00 to $372.00 and gave the company a “hold” rating in a research note on Friday, July 31st. BMO Capital Markets raised their price target on shares of LPL Financial from $300.00 to $390.00 and gave the stock an “outperform” rating in a report on Monday, August 3rd. Keefe, Bruyette & Woods boosted their price objective on shares of LPL Financial from $365.00 to $390.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Finally, William Blair reissued an “outperform” rating on shares of LPL Financial in a research report on Thursday, June 4th. Twelve analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, LPL Financial has a consensus rating of “Moderate Buy” and an average target price of $406.69.

Insider Buying and Selling

In other LPL Financial news, Director Matthew Enyedi sold 1,000 shares of the business’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $352.72, for a total transaction of $352,720.00. Following the transaction, the director owned 13,121 shares of the company’s stock, valued at approximately $4,628,039.12. The trade was a 7.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Aneri Jambusaria sold 308 shares of the business’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $306.00, for a total transaction of $94,248.00. Following the completion of the transaction, the director owned 6,415 shares in the company, valued at $1,962,990. The trade was a 4.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.60% of the company’s stock.

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.