Caisse de depot et placement du Quebec Makes New Investment in LPL Financial Holdings Inc. $LPLA

Caisse de depot et placement du Quebec purchased a new position in LPL Financial Holdings Inc. (NASDAQ:LPLA) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 231,867 shares of the financial services provider’s stock, valued at approximately $65,312,000.

A number of other hedge funds also recently modified their holdings of LPLA. Osterweis Capital Management Inc. acquired a new stake in LPL Financial during the 2nd quarter worth approximately $26,000. Clearstead Advisors LLC lifted its position in LPL Financial by 3,650.0% during the 4th quarter. Clearstead Advisors LLC now owns 75 shares of the financial services provider’s stock worth $27,000 after buying an additional 73 shares in the last quarter. Core Wealth Advisors LLC bought a new stake in LPL Financial during the fourth quarter worth about $36,000. Physician Wealth Advisors Inc. raised its stake in shares of LPL Financial by 580.0% during the 1st quarter. Physician Wealth Advisors Inc. now owns 136 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 116 shares in the last quarter. Finally, Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in LPL Financial during the fourth quarter worth $50,000. Institutional investors and hedge funds own 95.66% of the company’s stock.

Insider Transactions at LPL Financial

In other LPL Financial news, Director Matthew Enyedi sold 1,000 shares of the company’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $352.72, for a total value of $352,720.00. Following the transaction, the director directly owned 13,121 shares of the company’s stock, valued at $4,628,039.12. This represents a 7.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Greg Gates sold 4,119 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $355.38, for a total value of $1,463,810.22. Following the transaction, the director owned 23,602 shares in the company, valued at $8,387,678.76. The trade was a 14.86% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 5,427 shares of company stock worth $1,910,778. Company insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on LPLA shares. JPMorgan Chase & Co. raised their target price on shares of LPL Financial from $408.00 to $428.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. TD Cowen upped their price objective on LPL Financial from $330.00 to $372.00 and gave the company a “hold” rating in a research note on Friday, July 31st. UBS Group cut their price objective on LPL Financial from $395.00 to $391.00 and set a “buy” rating for the company in a research report on Wednesday, July 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of LPL Financial in a research note on Friday, July 24th. Finally, BMO Capital Markets lifted their target price on LPL Financial from $300.00 to $390.00 and gave the stock an “outperform” rating in a research note on Monday, August 3rd. Twelve analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $406.69.

LPL Financial Stock Performance

NASDAQ LPLA opened at $361.22 on Friday. The stock has a market cap of $28.44 billion, a PE ratio of 28.81, a P/E/G ratio of 0.61 and a beta of 0.48. The company has a debt-to-equity ratio of 1.30, a quick ratio of 2.39 and a current ratio of 2.39. The firm has a 50-day moving average of $331.59 and a 200-day moving average of $314.83. LPL Financial Holdings Inc. has a 52-week low of $260.15 and a 52-week high of $400.16.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings results on Thursday, July 30th. The financial services provider reported $5.84 EPS for the quarter, beating analysts’ consensus estimates of $5.39 by $0.45. The business had revenue of $5.19 billion for the quarter, compared to analyst estimates of $5.04 billion. LPL Financial had a net margin of 5.13% and a return on equity of 32.20%. LPL Financial’s quarterly revenue was up 35.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.51 EPS. On average, sell-side analysts anticipate that LPL Financial Holdings Inc. will post 24.09 EPS for the current year.

LPL Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be given a $0.30 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.20 annualized dividend and a dividend yield of 0.3%. LPL Financial’s dividend payout ratio is presently 9.57%.

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.