LPL Financial Holdings Inc. $LPLA Shares Bought by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. boosted its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 11.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 98,138 shares of the financial services provider’s stock after buying an additional 10,445 shares during the period. Northwestern Mutual Wealth Management Co. owned 0.12% of LPL Financial worth $36,799,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LPLA. Vanguard Group Inc. raised its holdings in LPL Financial by 8.3% during the second quarter. Vanguard Group Inc. now owns 7,986,766 shares of the financial services provider’s stock worth $2,994,798,000 after purchasing an additional 613,909 shares in the last quarter. Boston Partners boosted its stake in LPL Financial by 4.7% during the 2nd quarter. Boston Partners now owns 3,679,484 shares of the financial services provider’s stock valued at $1,379,598,000 after purchasing an additional 165,201 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of LPL Financial by 0.8% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,681,617 shares of the financial services provider’s stock valued at $877,264,000 after purchasing an additional 20,881 shares during the period. Massachusetts Financial Services Co. MA raised its stake 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 in the last quarter. Finally, WCM Investment Management LLC lifted its holdings in shares of LPL Financial by 5.8% in the second quarter. WCM Investment Management LLC now owns 1,730,777 shares of the financial services provider’s stock valued at $631,664,000 after buying an additional 95,423 shares during the period. 95.66% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Greg Gates sold 1,500 shares of the business’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $338.21, for a total transaction of $507,315.00. Following the transaction, the director owned 17,620 shares in the company, valued at approximately $5,959,260.20. The trade was a 7.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Aneri Jambusaria sold 80 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $361.25, for a total value of $28,900.00. Following the completion of the transaction, the director directly owned 5,582 shares of the company’s stock, valued at approximately $2,016,497.50. This trade represents a 1.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 3,830 shares of company stock worth $1,336,675 in the last ninety days. 1.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. TD Cowen lifted their price objective on shares of LPL Financial from $356.00 to $410.00 and gave the stock a “hold” rating in a research note on Monday, November 3rd. Keefe, Bruyette & Woods lifted their price target on shares of LPL Financial from $425.00 to $435.00 and gave the stock an “outperform” rating in a research report on Monday, August 4th. Barclays increased their price objective on LPL Financial from $411.00 to $420.00 and gave the company an “overweight” rating in a research report on Friday, October 31st. JPMorgan Chase & Co. decreased their target price on LPL Financial from $463.00 to $438.00 and set an “overweight” rating on the stock in a report on Monday, October 20th. Finally, BMO Capital Markets initiated coverage on LPL Financial in a research report on Friday, October 3rd. They set an “outperform” rating and a $365.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $429.00.

LPL Financial Stock Up 0.7%

Shares of LPL Financial stock opened at $356.05 on Friday. The firm has a market cap of $28.50 billion, a price-to-earnings ratio of 32.79, a P/E/G ratio of 0.78 and a beta of 0.63. The stock has a 50-day simple moving average of $345.02 and a 200-day simple moving average of $361.46. LPL Financial Holdings Inc. has a 52-week low of $262.83 and a 52-week high of $403.58. The company has a debt-to-equity ratio of 1.49, a current ratio of 2.60 and a quick ratio of 2.60.

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

LPL Financial Announces Dividend

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

LPL Financial Company 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.