LPL Financial Holdings Inc. $LPLA Shares Acquired by Raiffeisen Bank International AG

Raiffeisen Bank International AG boosted its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 113.5% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,384 shares of the financial services provider’s stock after acquiring an additional 2,862 shares during the period. Raiffeisen Bank International AG’s holdings in LPL Financial were worth $1,450,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. BlackRock Inc. bought a new position in shares of LPL Financial during the second quarter worth about $1,333,189,000. Jupiter Topco LLC acquired a new stake in shares of LPL Financial in the second quarter valued at $1,182,595,000. Dodge & Cox lifted its stake in LPL Financial by 18.6% during the fourth quarter. Dodge & Cox now owns 3,948,970 shares of the financial services provider’s stock valued at $1,410,454,000 after purchasing an additional 619,715 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of LPL Financial by 8.6% during the first quarter. Janus Henderson Group PLC now owns 3,666,780 shares of the financial services provider’s stock worth $1,103,079,000 after purchasing an additional 289,227 shares during the period. Finally, Capital World Investors raised its holdings in LPL Financial by 37.9% during the 4th quarter. Capital World Investors now owns 3,625,357 shares of the financial services provider’s stock worth $1,294,869,000 after buying an additional 996,806 shares during the period. Institutional investors own 95.66% of the company’s stock.

Insider Buying and Selling

In other news, Director Greg Gates sold 4,119 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $355.38, for a total value of $1,463,810.22. Following the transaction, the director owned 23,602 shares of the company’s stock, valued at $8,387,678.76. This represents a 14.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Matthew Enyedi sold 1,000 shares of LPL Financial stock in a transaction that occurred 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 directly owned 13,121 shares in the company, valued at $4,628,039.12. The trade was a 7.08% decrease in their position. 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 sold a total of 5,735 shares of company stock valued at $2,020,845 over the last ninety days. Insiders own 0.60% of the company’s stock.

LPL Financial Price Performance

NASDAQ:LPLA opened at $359.33 on Friday. The firm has a market cap of $28.29 billion, a PE ratio of 28.65, a price-to-earnings-growth ratio of 0.60 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 Holdings Inc. has a 12 month low of $260.15 and a 12 month high of $400.16. The company’s 50-day moving average price is $340.76 and its two-hundred day moving average price is $315.54.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data on Thursday, July 30th. The financial services provider reported $5.84 EPS for the quarter, topping analysts’ consensus estimates of $5.39 by $0.45. The firm had revenue of $5.19 billion for the quarter, compared to analyst estimates of $5.04 billion. LPL Financial had a net margin of 5.13% and a return on equity of 32.20%. The company’s revenue was up 35.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.51 EPS. On average, equities analysts anticipate that LPL Financial Holdings Inc. will post 24.06 EPS for the current fiscal year.

LPL Financial Announces Dividend

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

Analyst Ratings Changes

Several research analysts recently weighed in on the company. William Blair reissued an “outperform” rating on shares of LPL Financial in a research report on Thursday, June 4th. Wolfe Research reissued an “outperform” rating and issued a $454.00 target price on shares of LPL Financial in a research report on Wednesday, August 12th. Weiss Ratings reissued a “hold (c)” rating on shares of LPL Financial in a report on Friday, July 24th. Morgan Stanley lifted their target price on shares of LPL Financial from $374.00 to $387.00 and gave the stock an “overweight” rating in a report on Friday, July 10th. Finally, JPMorgan Chase & Co. lifted their price target on LPL Financial from $408.00 to $428.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Twelve research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $405.79.

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.