Epoch Investment Partners Inc. lifted its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 1.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 386,155 shares of the financial services provider’s stock after buying an additional 6,663 shares during the quarter. Epoch Investment Partners Inc. owned approximately 0.48% of LPL Financial worth $52,123,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of LPLA. Kayne Anderson Rudnick Investment Management LLC bought a new position in shares of LPL Financial during the 1st quarter worth $272,964,000. Artisan Partners Limited Partnership bought a new position in shares of LPL Financial during the 2nd quarter worth $146,650,000. Maverick Capital Ltd. grew its position in shares of LPL Financial by 16,373.5% during the 1st quarter. Maverick Capital Ltd. now owns 852,007 shares of the financial services provider’s stock worth $121,121,000 after buying an additional 846,835 shares in the last quarter. American Century Companies Inc. boosted its position in LPL Financial by 39.9% during the second quarter. American Century Companies Inc. now owns 1,063,660 shares of the financial services provider’s stock valued at $143,573,000 after purchasing an additional 303,276 shares in the last quarter. Finally, Chiron Investment Management LLC bought a new stake in LPL Financial during the second quarter valued at about $30,287,000. 93.70% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ LPLA traded up $2.55 during trading on Thursday, hitting $169.47. The company’s stock had a trading volume of 2,743 shares, compared to its average volume of 610,919. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.37 and a quick ratio of 1.37. The company has a market cap of $13.60 billion, a PE ratio of 25.32 and a beta of 1.18. The business’s 50 day simple moving average is $150.44 and its 200-day simple moving average is $145.70. LPL Financial Holdings Inc. has a fifty-two week low of $75.25 and a fifty-two week high of $168.96.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 27th. Stockholders of record on Friday, August 13th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.59%. The ex-dividend date was Thursday, August 12th. LPL Financial’s payout ratio is 15.48%.
A number of equities research analysts recently weighed in on LPLA shares. dropped their price objective on LPL Financial from $239.00 to $220.00 and set a “buy” rating on the stock in a research report on Monday, July 12th. Citigroup raised their price objective on LPL Financial from $228.00 to $234.00 and gave the company a “buy” rating in a research report on Friday, September 24th. Morgan Stanley raised their price objective on LPL Financial from $202.00 to $208.00 and gave the company an “overweight” rating in a research report on Friday, October 8th. Finally, The Goldman Sachs Group downgraded LPL Financial from a “conviction-buy” rating to a “buy” rating in a research report on Wednesday, June 23rd. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, LPL Financial presently has a consensus rating of “Buy” and a consensus target price of $158.05.
In other news, Director Matthew Enyedi sold 7,712 shares of the firm’s stock in a transaction dated Tuesday, July 20th. The stock was sold at an average price of $130.00, for a total value of $1,002,560.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Edward Fandrey sold 1,784 shares of the firm’s stock in a transaction dated Thursday, August 26th. The stock was sold at an average price of $148.78, for a total value of $265,423.52. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.
LPL Financial Profile
LPL Financial Holdings, Inc serves independent financial advisors and financial institutions, providing them with the technology, research, clearing and compliance services, and practice management programs they need to create and grow their practices. It provides objective financial guidance to millions of American families seeking wealth management, retirement planning, financial planning and asset management solutions.
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