Thames Capital Management LLC Invests $10.86 Million in LPL Financial Holdings Inc. $LPLA

Thames Capital Management LLC acquired a new position in LPL Financial Holdings Inc. (NASDAQ:LPLA) in the second quarter, Holdings Channel reports. The fund acquired 28,954 shares of the financial services provider’s stock, valued at approximately $10,857,000. LPL Financial makes up approximately 2.5% of Thames Capital Management LLC’s investment portfolio, making the stock its 19th biggest position.

Several other hedge funds and other institutional investors have also bought and sold shares of LPLA. CWM LLC lifted its stake in shares of LPL Financial by 48.1% during the 1st quarter. CWM LLC now owns 2,778 shares of the financial services provider’s stock worth $909,000 after purchasing an additional 902 shares during the last quarter. Apollon Wealth Management LLC raised its stake in shares of LPL Financial by 30.3% during the 1st quarter. Apollon Wealth Management LLC now owns 1,267 shares of the financial services provider’s stock worth $414,000 after acquiring an additional 295 shares in the last quarter. Wealthfront Advisers LLC grew its holdings in LPL Financial by 1.9% in the first quarter. Wealthfront Advisers LLC now owns 2,699 shares of the financial services provider’s stock worth $883,000 after purchasing an additional 51 shares during the last quarter. Private Advisor Group LLC boosted its position in shares of LPL Financial by 1.3% in the 1st quarter. Private Advisor Group LLC now owns 26,706 shares of the financial services provider’s stock worth $8,737,000 after purchasing an additional 341 shares in the last quarter. Finally, Kestra Private Wealth Services LLC purchased a new stake in LPL Financial in the first quarter valued at about $290,000. Institutional investors own 95.66% of the company’s stock.

Analysts Set New Price Targets

LPLA has been the subject of several research analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of LPL Financial from $463.00 to $438.00 and set an “overweight” rating for the company in a research report on Monday, October 20th. UBS Group set a $455.00 target price on LPL Financial in a research report on Thursday, October 9th. 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 price target for the company. TD Cowen upped their target price on LPL Financial from $356.00 to $410.00 and gave the company a “hold” rating in a research report on Monday, November 3rd. Finally, Rothschild Redb lowered shares of LPL Financial from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 19th. One research 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 stock. Based on data from MarketBeat, LPL Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $429.00.

LPL Financial Trading Down 0.5%

LPLA stock opened at $370.59 on Monday. The firm has a market cap of $29.66 billion, a P/E ratio of 34.12, a PEG ratio of 0.82 and a beta of 0.63. The company’s 50-day simple moving average is $342.72 and its 200-day simple moving average is $361.16. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 1.49. LPL Financial Holdings Inc. has a 52-week low of $262.83 and a 52-week high of $403.58.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data on Thursday, October 30th. The financial services provider reported $5.20 EPS for the quarter, beating the consensus estimate of $4.49 by $0.71. The company had revenue of $4.55 billion for the quarter, compared to analyst estimates of $4.08 billion. LPL Financial had a return on equity of 36.80% and a net margin of 5.35%.LPL Financial’s quarterly revenue was up 46.4% compared to the same quarter last year. During the same period last year, the company earned $4.16 earnings per share. As a group, equities analysts forecast that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Dividend Announcement

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

Insider Activity

In other news, Director Aneri Jambusaria sold 80 shares of LPL Financial stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $361.25, for a total value of $28,900.00. Following the sale, the director directly owned 5,582 shares of the company’s stock, valued at $2,016,497.50. The trade was a 1.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Greg Gates sold 1,500 shares of the firm’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $376.43, for a total value of $564,645.00. Following the completion of the transaction, the director owned 15,370 shares in the company, valued at $5,785,729.10. The trade was a 8.89% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 3,830 shares of company stock worth $1,336,675. Company insiders own 1.30% of the company’s stock.

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.