Foyston Gordon & Payne Inc Takes $10.29 Million Position in LPL Financial Holdings Inc. $LPLA

Foyston Gordon & Payne Inc bought a new position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 36,282 shares of the financial services provider’s stock, valued at approximately $10,286,000. LPL Financial makes up about 2.2% of Foyston Gordon & Payne Inc’s investment portfolio, making the stock its 16th biggest position.

A number of other hedge funds also recently modified their holdings of the stock. NewEdge Advisors LLC raised its stake in LPL Financial by 42.7% in the first quarter. NewEdge Advisors LLC now owns 3,525 shares of the financial services provider’s stock valued at $1,153,000 after purchasing an additional 1,055 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in LPL Financial by 0.5% during the first quarter. Goldman Sachs Group Inc. now owns 209,126 shares of the financial services provider’s stock worth $68,414,000 after buying an additional 1,089 shares in the last quarter. Woodline Partners LP bought a new position in LPL Financial in the 1st quarter valued at about $1,636,000. Focus Partners Wealth increased its holdings in LPL Financial by 12.2% in the 1st quarter. Focus Partners Wealth now owns 4,360 shares of the financial services provider’s stock valued at $1,426,000 after buying an additional 473 shares during the period. Finally, Acadian Asset Management LLC acquired a new position in shares of LPL Financial in the 1st quarter valued at approximately $121,000. Institutional investors own 95.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LPL Financial in a report on Friday, July 24th. TD Cowen boosted their price objective on shares of LPL Financial from $330.00 to $372.00 and gave the company a “hold” rating in a research report on Friday, July 31st. Wolfe Research restated an “outperform” rating and set a $454.00 target price on shares of LPL Financial in a research note on Wednesday, August 12th. UBS Group reduced their target price on LPL Financial from $395.00 to $391.00 and set a “buy” rating on the stock in a report on Wednesday, July 8th. Finally, BMO Capital Markets lifted their price target on LPL Financial from $300.00 to $390.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Twelve analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, LPL Financial has a consensus rating of “Moderate Buy” and a consensus price target of $406.69.

LPL Financial Price Performance

Shares of NASDAQ:LPLA opened at $361.35 on Friday. LPL Financial Holdings Inc. has a one year low of $260.15 and a one year high of $400.16. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.39 and a quick ratio of 2.39. The company has a market cap of $28.45 billion, a price-to-earnings ratio of 28.82, a PEG ratio of 0.61 and a beta of 0.48. The firm has a 50 day simple moving average of $326.58 and a 200 day simple moving average of $315.86.

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

LPL Financial Dividend Announcement

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

Insider Activity

In other news, Director Aneri Jambusaria sold 308 shares of the business’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $306.00, for a total transaction of $94,248.00. Following the sale, the director directly owned 6,415 shares in the company, valued at approximately $1,962,990. The trade was a 4.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 Greg Gates sold 4,119 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $355.38, for a total transaction of $1,463,810.22. Following the completion of the transaction, the director owned 23,602 shares of the company’s stock, valued at approximately $8,387,678.76. This trade represents a 14.86% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 5,427 shares of company stock valued at $1,910,778. 0.60% of the stock is currently owned by corporate insiders.

About LPL Financial

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.