Vanguard Personalized Indexing Management LLC Increases Holdings in LPL Financial Holdings Inc. $LPLA

Vanguard Personalized Indexing Management LLC increased its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 20.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,163 shares of the financial services provider’s stock after purchasing an additional 1,560 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in LPL Financial were worth $3,436,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Summit Securities Group LLC purchased a new position in shares of LPL Financial in the first quarter valued at $26,000. Millstone Evans Group LLC grew its position in shares of LPL Financial by 123.1% in the first quarter. Millstone Evans Group LLC now owns 87 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 48 shares in the last quarter. Maseco LLP purchased a new position in shares of LPL Financial in the second quarter valued at $34,000. Private Trust Co. NA grew its position in shares of LPL Financial by 234.5% in the first quarter. Private Trust Co. NA now owns 97 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 68 shares in the last quarter. Finally, TCTC Holdings LLC grew its position in shares of LPL Financial by 116.7% in the first quarter. TCTC Holdings LLC now owns 104 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 56 shares in the last quarter. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on LPLA shares. Rothschild Redb cut LPL Financial from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 19th. UBS Group set a $455.00 price objective on LPL Financial in a research note on Thursday, October 9th. Rothschild & Co Redburn lowered LPL Financial from a “buy” rating to a “neutral” rating and set a $390.00 price objective for the company. in a research note on Friday, September 19th. JMP Securities lifted their price objective on LPL Financial from $440.00 to $455.00 and gave the company a “market outperform” rating in a research note on Thursday, October 9th. Finally, Keefe, Bruyette & Woods lifted their price objective on LPL Financial from $425.00 to $435.00 and gave the company an “outperform” rating in a research note on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, LPL Financial presently has a consensus rating of “Moderate Buy” and an average target price of $395.85.

LPL Financial Trading Up 1.0%

Shares of LPLA stock opened at $320.99 on Wednesday. The company has a quick ratio of 3.22, a current ratio of 3.22 and a debt-to-equity ratio of 1.41. The business has a 50-day moving average price of $345.12 and a two-hundred day moving average price of $353.04. LPL Financial Holdings Inc. has a 12-month low of $251.74 and a 12-month high of $403.58. The firm has a market cap of $25.68 billion, a P/E ratio of 21.96, a price-to-earnings-growth ratio of 0.74 and a beta of 0.61.

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

LPL Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were issued a $0.30 dividend. The ex-dividend date was Friday, August 15th. This represents a $1.20 annualized dividend and a dividend yield of 0.4%. LPL Financial’s payout ratio is currently 8.21%.

Insider Activity

In other news, Director Aneri Jambusaria sold 80 shares of LPL Financial stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $361.25, for a total value of $28,900.00. Following the transaction, the director owned 5,582 shares in the company, valued at approximately $2,016,497.50. The trade was a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Greg Gates sold 1,500 shares of LPL Financial stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $338.21, for a total value of $507,315.00. Following the completion of the transaction, the director owned 17,620 shares in the company, valued at approximately $5,959,260.20. This represents a 7.85% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,830 shares of company stock worth $1,333,105. Company insiders own 0.70% of the company’s stock.

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.