LPL Financial Holdings Inc. $LPLA Shares Bought by Intech Investment Management LLC

Intech Investment Management LLC increased its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 39.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,753 shares of the financial services provider’s stock after buying an additional 1,620 shares during the period. Intech Investment Management LLC’s holdings in LPL Financial were worth $1,914,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Dodge & Cox increased its position in shares of LPL Financial by 77.3% in the 2nd quarter. Dodge & Cox now owns 2,701,709 shares of the financial services provider’s stock worth $1,013,060,000 after purchasing an additional 1,178,249 shares during the last quarter. Norges Bank bought a new stake in LPL Financial during the second quarter valued at $402,312,000. Massachusetts Financial Services Co. MA lifted its position in shares of LPL Financial by 61.1% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,442,182 shares of the financial services provider’s stock worth $915,745,000 after buying an additional 926,122 shares during the last quarter. Vanguard Group Inc. grew its position in shares of LPL Financial by 8.3% during the 2nd quarter. Vanguard Group Inc. now owns 7,986,766 shares of the financial services provider’s stock valued at $2,994,798,000 after buying an additional 613,909 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in LPL Financial by 444.8% in the second quarter. Invesco Ltd. now owns 551,579 shares of the financial services provider’s stock worth $206,825,000 after acquiring an additional 450,326 shares during the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.

Insider Activity at LPL Financial

In related news, CEO Richard Steinmeier sold 5,058 shares of the stock in a transaction on Friday, December 5th. The stock was sold at an average price of $370.99, for a total transaction of $1,876,467.42. Following the completion of the sale, the chief executive officer directly owned 9,326 shares in the company, valued at approximately $3,459,852.74. This trade represents a 35.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Matthew J. Audette sold 1,581 shares of the company’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $320.50, for a total value of $506,710.50. Following the completion of the transaction, the chief financial officer directly owned 21,382 shares in the company, valued at approximately $6,852,931. The trade was a 6.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 9,498 shares of company stock worth $3,336,602. Corporate insiders own 1.30% of the company’s stock.

LPL Financial Stock Up 1.8%

Shares of LPL Financial stock opened at $311.88 on Thursday. The company has a quick ratio of 2.45, a current ratio of 2.45 and a debt-to-equity ratio of 1.36. LPL Financial Holdings Inc. has a 12-month low of $262.83 and a 12-month high of $403.58. The firm has a market capitalization of $24.98 billion, a PE ratio of 28.33, a price-to-earnings-growth ratio of 0.68 and a beta of 0.59. The stock’s fifty day moving average is $353.72 and its 200-day moving average is $352.25.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings results on Thursday, January 29th. The financial services provider reported $5.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.82 by $0.41. LPL Financial had a net margin of 5.08% and a return on equity of 34.19%. The business had revenue of $4.93 billion for the quarter, compared to analyst estimates of $4.90 billion. During the same quarter in the previous year, the business earned $4.25 earnings per share. The firm’s revenue was up 8.4% compared to the same quarter last year. Equities analysts anticipate that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 24th. Investors of record on Tuesday, March 10th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Tuesday, March 10th. LPL Financial’s dividend payout ratio (DPR) is currently 10.90%.

Analyst Ratings Changes

Several brokerages recently issued reports on LPLA. Weiss Ratings reissued a “hold (c)” rating on shares of LPL Financial in a report on Wednesday, January 28th. JPMorgan Chase & Co. lifted their target price on LPL Financial from $433.00 to $439.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. TD Cowen lowered their price target on LPL Financial from $399.00 to $378.00 and set a “hold” rating on the stock in a report on Friday, January 30th. Jefferies Financial Group increased their target price on shares of LPL Financial from $426.00 to $440.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Finally, Citigroup restated a “market outperform” rating on shares of LPL Financial in a research report on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $428.71.

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.