Moore Capital Management LP Invests $15.73 Million in LPL Financial Holdings Inc. $LPLA

Moore Capital Management LP bought a new position in LPL Financial Holdings Inc. (NASDAQ:LPLA) in the 2nd quarter, Holdings Channel.com reports. The firm bought 55,840 shares of the financial services provider’s stock, valued at approximately $15,729,000.

Other hedge funds have also recently added to or reduced their stakes in the company. NewEdge Advisors LLC raised its position in LPL Financial by 42.7% in the 1st quarter. NewEdge Advisors LLC now owns 3,525 shares of the financial services provider’s stock worth $1,153,000 after purchasing an additional 1,055 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of LPL Financial by 0.5% during the first quarter. Goldman Sachs Group Inc. now owns 209,126 shares of the financial services provider’s stock valued at $68,414,000 after buying an additional 1,089 shares during the last quarter. Woodline Partners LP purchased a new position in shares of LPL Financial in the first quarter worth about $1,636,000. Focus Partners Wealth boosted its holdings in LPL Financial by 12.2% during the 1st quarter. Focus Partners Wealth now owns 4,360 shares of the financial services provider’s stock valued at $1,426,000 after acquiring an additional 473 shares during the period. Finally, Acadian Asset Management LLC bought a new position in LPL Financial during the 1st quarter worth approximately $121,000. Institutional investors own 95.66% of the company’s stock.

LPL Financial Stock Performance

NASDAQ:LPLA opened at $370.69 on Monday. The company’s 50 day moving average price is $333.13 and its 200-day moving average price is $314.67. LPL Financial Holdings Inc. has a 52 week low of $260.15 and a 52 week high of $400.16. The company has a quick ratio of 2.39, a current ratio of 2.39 and a debt-to-equity ratio of 1.30. The stock has a market cap of $29.19 billion, a price-to-earnings ratio of 29.56, a PEG ratio of 0.62 and a beta of 0.48.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings data on Thursday, July 30th. The financial services provider reported $5.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.39 by $0.45. LPL Financial had a return on equity of 32.20% and a net margin of 5.13%.The business had revenue of $5.19 billion for the quarter, compared to analysts’ expectations of $5.04 billion. During the same period in the prior year, the firm posted $4.51 EPS. The firm’s quarterly revenue was up 35.2% on a year-over-year basis. On average, equities research analysts forecast that LPL Financial Holdings Inc. will post 24.09 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were paid a dividend of $0.30 per share. The ex-dividend date was Friday, August 14th. This represents a $1.20 annualized dividend and a yield of 0.3%. LPL Financial’s dividend payout ratio is currently 9.57%.

Analyst Ratings Changes

LPLA has been the topic of several analyst reports. BMO Capital Markets lifted their target price on shares of LPL Financial from $300.00 to $390.00 and gave the stock an “outperform” rating in a research note on Monday, August 3rd. UBS Group decreased their price objective on shares of LPL Financial from $395.00 to $391.00 and set a “buy” rating on the stock in a research report on Wednesday, July 8th. Keefe, Bruyette & Woods raised their target price on LPL Financial from $365.00 to $390.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. JPMorgan Chase & Co. upped their price target on LPL Financial from $408.00 to $428.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Finally, Barclays boosted their target price on LPL Financial from $394.00 to $401.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Twelve research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $406.69.

Insider Activity

In other news, Director Matthew Enyedi sold 1,000 shares of the stock in a transaction on Friday, July 31st. The stock was sold at an average price of $352.72, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Aneri Jambusaria sold 308 shares of the firm’s 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 approximately $1,962,990. This trade represents a 4.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 5,427 shares of company stock valued at $1,910,778 in the last 90 days. 0.60% of the stock is currently owned by insiders.

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.