Oliver Luxxe Assets LLC Increases Holdings in LPL Financial Holdings Inc. $LPLA

Oliver Luxxe Assets LLC boosted its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 7.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,019 shares of the financial services provider’s stock after buying an additional 646 shares during the quarter. Oliver Luxxe Assets LLC’s holdings in LPL Financial were worth $2,951,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Dodge & Cox lifted its holdings in shares of LPL Financial by 224.1% in the 1st quarter. Dodge & Cox now owns 1,523,460 shares of the financial services provider’s stock worth $498,385,000 after acquiring an additional 1,053,351 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of LPL Financial by 1,453.3% during the 1st quarter. Principal Financial Group Inc. now owns 1,038,683 shares of the financial services provider’s stock valued at $339,795,000 after purchasing an additional 971,814 shares during the last quarter. Jennison Associates LLC raised its position in LPL Financial by 786.2% in the 1st quarter. Jennison Associates LLC now owns 959,371 shares of the financial services provider’s stock worth $313,849,000 after purchasing an additional 851,115 shares during the period. Egerton Capital UK LLP lifted its stake in LPL Financial by 238.1% in the first quarter. Egerton Capital UK LLP now owns 871,265 shares of the financial services provider’s stock worth $285,026,000 after purchasing an additional 613,555 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in LPL Financial by 20.6% in the fourth quarter. Janus Henderson Group PLC now owns 3,050,529 shares of the financial services provider’s stock worth $996,032,000 after purchasing an additional 522,032 shares during the last quarter. 95.66% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other LPL Financial news, Director Greg Gates sold 1,500 shares of the business’s stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $374.05, for a total transaction of $561,075.00. Following the transaction, the director directly owned 19,120 shares of the company’s stock, valued at approximately $7,151,836. The trade was a 7.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is currently owned by company insiders.

LPL Financial Stock Up 0.3%

NASDAQ LPLA opened at $362.44 on Friday. LPL Financial Holdings Inc. has a 1 year low of $204.41 and a 1 year high of $403.58. The stock has a market capitalization of $29.00 billion, a PE ratio of 24.79, a PEG ratio of 0.85 and a beta of 0.66. The company has a debt-to-equity ratio of 1.41, a current ratio of 3.22 and a quick ratio of 3.22. The business’s 50-day moving average is $373.43 and its 200 day moving average is $355.68.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings results on Thursday, July 31st. The financial services provider reported $4.51 EPS for the quarter, beating analysts’ consensus estimates of $4.21 by $0.30. The business had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.77 billion. LPL Financial had a return on equity of 39.80% and a net margin of 7.91%.LPL Financial’s quarterly revenue was up 30.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.88 EPS. Sell-side analysts forecast that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.20 dividend on an annualized basis and a yield of 0.3%. LPL Financial’s dividend payout ratio (DPR) is presently 8.21%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on LPLA. JMP Securities raised their price objective on LPL Financial from $420.00 to $440.00 and gave the company a “market outperform” rating in a research note on Friday, May 9th. Morgan Stanley restated an “overweight” rating and set a $490.00 target price (up from $450.00) on shares of LPL Financial in a report on Tuesday, July 15th. Citigroup lowered LPL Financial from a “neutral” rating to a “sell” rating and set a $80.00 price target on the stock. in a research report on Wednesday, July 9th. Keefe, Bruyette & Woods lifted their price target on LPL Financial from $425.00 to $435.00 and gave the stock an “outperform” rating in a research note on Monday, August 4th. Finally, Redburn Atlantic raised LPL Financial from a “neutral” rating to a “buy” rating and increased their price objective for the company from $420.00 to $460.00 in a research note on Monday, June 9th. Ten equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $383.58.

About LPL Financial

LPL Financial Holdings Inc, together with its subsidiaries, provides an integrated platform of brokerage and investment advisory services to independent financial advisors and financial advisors at enterprises in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, fixed income, alternative investments, retirement and 529 education savings plans, and insurance.