Corient Private Wealth LP Takes Position in LPL Financial Holdings Inc. $LPLA

Corient Private Wealth LP acquired a new position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 30,811 shares of the financial services provider’s stock, valued at approximately $8,679,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Egerton Capital UK LLP acquired a new position in shares of LPL Financial during the fourth quarter valued at $91,012,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in LPL Financial by 7.1% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 77,992 shares of the financial services provider’s stock worth $28,204,000 after purchasing an additional 5,179 shares during the period. Markel Group Inc. lifted its holdings in LPL Financial by 1.2% in the fourth quarter. Markel Group Inc. now owns 559,951 shares of the financial services provider’s stock worth $199,998,000 after purchasing an additional 6,630 shares during the period. Norges Bank bought a new position in LPL Financial in the 4th quarter valued at about $371,616,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in LPL Financial by 56.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 158,783 shares of the financial services provider’s stock valued at $56,713,000 after buying an additional 57,362 shares in the last quarter. 95.66% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Matthew Enyedi sold 1,000 shares of the stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $352.72, for a total transaction of $352,720.00. Following the completion of the sale, the director directly owned 13,121 shares of the company’s stock, valued at $4,628,039.12. This represents a 7.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 stock in a transaction that occurred on Wednesday, June 17th. The shares were 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 of the company’s stock, valued at approximately $1,962,990. This represents a 4.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 5,427 shares of company stock worth $1,910,778 in the last ninety days. 0.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on LPLA shares. Weiss Ratings reissued a “hold (c)” rating on shares of LPL Financial in a research note on Friday, July 24th. UBS Group reduced their price target on shares of LPL Financial from $395.00 to $391.00 and set a “buy” rating for the company in a research note on Wednesday, July 8th. Keefe, Bruyette & Woods increased 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. William Blair reiterated an “outperform” rating on shares of LPL Financial in a research note on Thursday, June 4th. Finally, Morgan Stanley boosted their target price on LPL Financial from $374.00 to $387.00 and gave the stock an “overweight” rating in a report on Friday, July 10th. Twelve equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, LPL Financial currently has a consensus rating of “Moderate Buy” and an average target price of $406.69.

LPL Financial Stock Performance

Shares of LPLA stock opened at $370.69 on Monday. The stock has a 50-day simple moving average of $333.13 and a 200 day simple moving average of $314.67. LPL Financial Holdings Inc. has a fifty-two week low of $260.15 and a fifty-two week high of $400.16. The stock has a market capitalization of $29.19 billion, a P/E ratio of 29.56, a P/E/G ratio of 0.62 and a beta of 0.48. The company has a quick ratio of 2.39, a current ratio of 2.39 and a debt-to-equity ratio of 1.30.

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

LPL Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Friday, August 14th. LPL Financial’s payout ratio is presently 9.57%.

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.