LPL Financial Holdings Inc. $LPLA Position Boosted by Munich Reinsurance Co Stock Corp in Munich

Munich Reinsurance Co Stock Corp in Munich boosted its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 11.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,605 shares of the financial services provider’s stock after acquiring an additional 3,923 shares during the quarter. Munich Reinsurance Co Stock Corp in Munich’s holdings in LPL Financial were worth $11,313,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Dodge & Cox increased its stake in LPL Financial by 18.6% during the 4th quarter. Dodge & Cox now owns 3,948,970 shares of the financial services provider’s stock valued at $1,410,454,000 after buying an additional 619,715 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of LPL Financial by 14.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,719,447 shares of the financial services provider’s stock worth $1,328,475,000 after acquiring an additional 477,094 shares during the period. Capital World Investors boosted its holdings in shares of LPL Financial by 37.9% in the fourth quarter. Capital World Investors now owns 3,625,357 shares of the financial services provider’s stock valued at $1,294,869,000 after acquiring an additional 996,806 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of LPL Financial by 9.0% in the fourth quarter. Janus Henderson Group PLC now owns 3,377,553 shares of the financial services provider’s stock valued at $1,206,371,000 after acquiring an additional 280,202 shares in the last quarter. Finally, Lone Pine Capital LLC increased its stake in shares of LPL Financial by 20.5% during the third quarter. Lone Pine Capital LLC now owns 2,255,714 shares of the financial services provider’s stock valued at $750,453,000 after acquiring an additional 383,466 shares during the period. Institutional investors own 95.66% of the company’s stock.

Insider Buying and Selling at LPL Financial

In related 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 value of $94,248.00. Following the completion of the transaction, the director owned 6,415 shares in the company, valued at $1,962,990. This trade represents a 4.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Matthew J. Audette sold 1,110 shares of LPL Financial stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $330.01, for a total value of $366,311.10. Following the completion of the transaction, the chief financial officer directly owned 19,803 shares in the company, valued at $6,535,188.03. This represents a 5.31% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 1,887 shares of company stock valued at $613,144. 0.60% of the stock is currently owned by company insiders.

LPL Financial Trading Down 2.2%

Shares of NASDAQ:LPLA opened at $300.82 on Thursday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.56 and a current ratio of 2.56. The stock has a market capitalization of $24.06 billion, a price-to-earnings ratio of 26.86, a PEG ratio of 0.64 and a beta of 0.50. LPL Financial Holdings Inc. has a 1-year low of $260.15 and a 1-year high of $403.58. The company has a 50 day moving average price of $293.58 and a 200 day moving average price of $320.33.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings results on Thursday, April 30th. The financial services provider reported $5.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.49 by $0.11. The company had revenue of $4.94 billion for the quarter, compared to analysts’ expectations of $4.98 billion. LPL Financial had a return on equity of 31.26% and a net margin of 4.93%.The firm’s revenue was up 34.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.15 earnings per share. On average, research analysts anticipate that LPL Financial Holdings Inc. will post 22.94 EPS for the current fiscal year.

LPL Financial Announces Dividend

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

Analysts Set New Price Targets

A number of research firms have weighed in on LPLA. Citizens Jmp restated a “market outperform” rating and issued a $500.00 target price on shares of LPL Financial in a research report on Monday, April 6th. Jefferies Financial Group lowered their price target 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. Morgan Stanley dropped their price objective on LPL Financial from $447.00 to $374.00 and set an “overweight” rating on the stock in a research note on Friday, April 10th. 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 report on Wednesday. Finally, William Blair reaffirmed an “outperform” rating on shares of LPL Financial in a research note on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $398.57.

LPL Financial News Summary

Here are the key news stories impacting LPL Financial this week:

• Positive Sentiment: LPL announced several new advisor wins, including David Logsdon, who brought roughly $380 million in assets, and Doug and Jenny Haskin, who launched Haskin Private Wealth Advisors with about $170 million in assets. These additions support LPL’s growth in advisor headcount and client assets. Article Title
• Positive Sentiment: Cypress Point Wealth Partners also joined LPL’s Independent Advisor Network, adding another independent practice and reinforcing LPL’s appeal to advisors seeking flexibility and support. Article Title
• Positive Sentiment: The company’s midyear outlook highlights LPL Research’s market commentary and may support investor confidence in the firm’s platform and thought leadership. Article Title

About LPL Financial

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.