OMERS ADMINISTRATION Corp Buys 30,592 Shares of LPL Financial Holdings Inc. $LPLA

OMERS ADMINISTRATION Corp increased its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 400.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,232 shares of the financial services provider’s stock after purchasing an additional 30,592 shares during the period. OMERS ADMINISTRATION Corp’s holdings in LPL Financial were worth $12,507,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of LPLA. Summit Securities Group LLC bought a new position in LPL Financial in the 1st quarter valued at $26,000. Millstone Evans Group LLC raised its position in shares of LPL Financial by 123.1% during the first quarter. Millstone Evans Group LLC now owns 87 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 48 shares during the last quarter. Private Trust Co. NA lifted its stake in shares of LPL Financial by 234.5% during the first quarter. Private Trust Co. NA now owns 97 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 68 shares during the period. MassMutual Private Wealth & Trust FSB boosted its holdings in LPL Financial by 63.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 100 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 39 shares during the last quarter. Finally, City Holding Co. bought a new position in LPL Financial in the first quarter valued at about $34,000. Institutional investors and hedge funds own 95.66% of the company’s stock.

Insider Buying and Selling

In other LPL Financial news, Director Greg Gates sold 1,500 shares of LPL Financial stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $374.05, for a total transaction of $561,075.00. Following the transaction, the director directly owned 19,120 shares in the company, valued at approximately $7,151,836. The trade was a 7.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on LPLA shares. Keefe, Bruyette & Woods boosted their price objective on LPL Financial from $425.00 to $435.00 and gave the stock an “outperform” rating in a report on Monday, August 4th. Citigroup cut shares of LPL Financial from a “neutral” rating to a “sell” rating and set a $80.00 price target for the company. in a research report on Wednesday, July 9th. Wall Street Zen downgraded shares of LPL Financial from a “buy” rating to a “hold” rating in a research note on Saturday, June 14th. Redburn Atlantic raised shares of LPL Financial from a “neutral” rating to a “buy” rating and raised their price objective for the company from $420.00 to $460.00 in a research note on Monday, June 9th. Finally, JMP Securities lifted their target price on shares of LPL Financial from $420.00 to $440.00 and gave the stock a “market outperform” rating in a report on Friday, May 9th. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $383.58.

LPL Financial Stock Performance

Shares of NASDAQ:LPLA opened at $366.00 on Thursday. The firm’s 50 day simple moving average is $372.56 and its 200 day simple moving average is $355.67. LPL Financial Holdings Inc. has a fifty-two week low of $204.41 and a fifty-two week high of $403.58. The company has a market capitalization of $29.28 billion, a price-to-earnings ratio of 25.03, a P/E/G ratio of 0.86 and a beta of 0.66. The company has a debt-to-equity ratio of 1.41, a current ratio of 3.22 and a quick ratio of 3.22.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data on Thursday, July 31st. The financial services provider reported $4.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.21 by $0.30. LPL Financial had a net margin of 7.91% and a return on equity of 39.80%. The firm had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3.77 billion. During the same quarter in the previous year, the company earned $3.88 earnings per share. The business’s revenue for the quarter was up 30.8% on a year-over-year basis. As a group, sell-side analysts forecast that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be given a $0.30 dividend. The ex-dividend date is Friday, August 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.3%. LPL Financial’s dividend payout ratio is currently 8.21%.

About LPL Financial

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.