LPL Financial Holdings Inc. $LPLA is Coronation Fund Managers Ltd.’s 6th Largest Position

Coronation Fund Managers Ltd. grew its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 27.2% during the 1st quarter, HoldingsChannel reports. The fund owned 290,443 shares of the financial services provider’s stock after purchasing an additional 62,178 shares during the period. LPL Financial comprises about 4.0% of Coronation Fund Managers Ltd.’s investment portfolio, making the stock its 6th largest holding. Coronation Fund Managers Ltd.’s holdings in LPL Financial were worth $87,374,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Osterweis Capital Management Inc. purchased a new position in shares of LPL Financial during the 2nd quarter worth about $26,000. Clearstead Advisors LLC raised its position in LPL Financial by 3,650.0% in the 4th quarter. Clearstead Advisors LLC now owns 75 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 73 shares during the period. Steigerwald Gordon & Koch Inc. lifted its stake in LPL Financial by 550.0% in the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 78 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 66 shares during the last quarter. Core Wealth Advisors LLC bought a new stake in LPL Financial in the fourth quarter worth about $36,000. Finally, Physician Wealth Advisors Inc. boosted its position in shares of LPL Financial by 580.0% during the first quarter. Physician Wealth Advisors Inc. now owns 136 shares of the financial services provider’s stock valued at $41,000 after buying an additional 116 shares during the period. Institutional investors own 95.66% of the company’s stock.

LPL Financial Stock Performance

Shares of NASDAQ:LPLA opened at $327.38 on Thursday. The firm’s 50 day simple moving average is $295.39 and its 200-day simple moving average is $317.33. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.56 and a current ratio of 2.56. LPL Financial Holdings Inc. has a one year low of $260.15 and a one year high of $403.58. The firm has a market cap of $26.18 billion, a PE ratio of 29.23, a price-to-earnings-growth ratio of 0.64 and a beta of 0.50.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings results on Thursday, April 30th. The financial services provider reported $5.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.49 by $0.11. LPL Financial had a return on equity of 31.26% and a net margin of 4.93%.The firm had revenue of $4.94 billion during the quarter, compared to analyst estimates of $4.98 billion. During the same quarter in the previous year, the business earned $5.15 earnings per share. LPL Financial’s quarterly revenue was up 34.6% on a year-over-year basis. As a group, equities analysts predict that LPL Financial Holdings Inc. will post 23.38 EPS for the current year.

LPL Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Thursday, May 21st. LPL Financial’s dividend payout ratio is currently 10.71%.

Insider Activity

In other news, Director Aneri Jambusaria sold 308 shares of the stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $306.00, for a total transaction of $94,248.00. Following the transaction, the director owned 6,415 shares of the company’s stock, valued at approximately $1,962,990. This represents a 4.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

LPLA has been the topic of a number of analyst reports. Morgan Stanley upped their target price on LPL Financial from $374.00 to $387.00 and gave the company an “overweight” rating in a research note on Friday, July 10th. Weiss Ratings restated a “hold (c)” rating on shares of LPL Financial in a report on Monday, April 27th. Jefferies Financial Group cut their price objective on LPL Financial from $464.00 to $383.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. Keefe, Bruyette & Woods assumed coverage on LPL Financial in a research note on Wednesday, April 8th. They issued an “outperform” rating and a $350.00 target price on the stock. Finally, William Blair reiterated an “outperform” rating on shares of LPL Financial in a research report on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $397.92.

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.