Aviva PLC Grows Stock Position in LPL Financial Holdings Inc. $LPLA

Aviva PLC increased its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 7.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 56,003 shares of the financial services provider’s stock after buying an additional 3,708 shares during the quarter. Aviva PLC’s holdings in LPL Financial were worth $20,999,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Summit Securities Group LLC purchased a new position in shares of LPL Financial during the first quarter valued at about $26,000. Millstone Evans Group LLC lifted its holdings in LPL Financial by 123.1% in the first quarter. Millstone Evans Group LLC now owns 87 shares of the financial services provider’s stock worth $28,000 after buying an additional 48 shares during the period. TCTC Holdings LLC boosted its position in LPL Financial by 116.7% during the 1st quarter. TCTC Holdings LLC now owns 104 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 56 shares in the last quarter. Maseco LLP purchased a new position in shares of LPL Financial during the 2nd quarter worth approximately $34,000. Finally, Bayforest Capital Ltd bought a new position in shares of LPL Financial in the 2nd quarter worth approximately $34,000. Institutional investors own 95.66% of the company’s stock.

LPL Financial Stock Performance

LPLA opened at $375.36 on Tuesday. The company’s 50 day moving average is $341.01 and its 200 day moving average is $359.55. LPL Financial Holdings Inc. has a 12-month low of $262.83 and a 12-month high of $403.58. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 1.49. The company has a market cap of $30.04 billion, a price-to-earnings ratio of 34.56, a PEG ratio of 0.83 and a beta of 0.63.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings results on Thursday, October 30th. The financial services provider reported $5.20 earnings per share for the quarter, topping analysts’ consensus estimates of $4.49 by $0.71. LPL Financial had a net margin of 5.35% and a return on equity of 36.80%. The business had revenue of $4.55 billion during the quarter, compared to analyst estimates of $4.08 billion. During the same period in the prior year, the business posted $4.16 earnings per share. The company’s revenue was up 46.4% on a year-over-year basis. On average, equities research analysts predict that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Thursday, November 13th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Thursday, November 13th. LPL Financial’s payout ratio is currently 11.05%.

Insider Activity

In related news, Director Greg Gates sold 1,500 shares of the business’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $376.43, for a total value of $564,645.00. Following the sale, the director directly owned 15,370 shares in the company, valued at approximately $5,785,729.10. The trade was a 8.89% 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 Aneri Jambusaria sold 80 shares of the business’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $361.25, for a total transaction of $28,900.00. Following the completion of the sale, the director owned 5,582 shares in the company, valued at $2,016,497.50. This represents a 1.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 3,830 shares of company stock worth $1,336,675 over the last ninety days. Insiders own 0.70% of the company’s stock.

Wall Street Analysts Forecast Growth

LPLA has been the topic of several research reports. JMP Securities set a $475.00 price target on LPL Financial in a research report on Friday, October 31st. Morgan Stanley decreased their price target on shares of LPL Financial from $490.00 to $462.00 and set an “overweight” rating for the company in a research note on Wednesday, October 1st. Rothschild Redb cut shares of LPL Financial from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 19th. Raymond James Financial raised shares of LPL Financial from an “underperform” rating to a “market perform” rating in a research note on Thursday, October 9th. Finally, Rothschild & Co Redburn downgraded shares of LPL Financial from a “buy” rating to a “neutral” rating and set a $390.00 target price for the company. in a research note on Friday, September 19th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $429.00.

LPL Financial Profile

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.