APG Asset Management N.V. Has $77.91 Million Position in LPL Financial Holdings Inc. $LPLA

APG Asset Management N.V. raised its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLAFree Report) by 478.1% during the 1st quarter, Holdings Channel reports. The institutional investor owned 257,260 shares of the financial services provider’s stock after acquiring an additional 212,760 shares during the quarter. APG Asset Management N.V.’s holdings in LPL Financial were worth $77,912,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Summit Securities Group LLC acquired a new stake in LPL Financial in the 1st quarter valued at $26,000. Millstone Evans Group LLC increased its stake in LPL Financial by 123.1% in the 1st quarter. Millstone Evans Group LLC now owns 87 shares of the financial services provider’s stock valued at $28,000 after buying an additional 48 shares during the last quarter. Private Trust Co. NA increased its stake in LPL Financial by 234.5% in the 1st quarter. Private Trust Co. NA now owns 97 shares of the financial services provider’s stock valued at $32,000 after buying an additional 68 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in LPL Financial by 63.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 100 shares of the financial services provider’s stock valued at $33,000 after buying an additional 39 shares during the last quarter. Finally, City Holding Co. acquired a new stake in LPL Financial in the 1st quarter valued at $34,000. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LPLA has been the topic of several recent research reports. TD Cowen lowered shares of LPL Financial from a “strong-buy” rating to a “hold” rating and lowered their price target for the company from $406.00 to $403.00 in a research note on Wednesday, July 9th. Keefe, Bruyette & Woods boosted their price objective on shares of LPL Financial from $425.00 to $435.00 and gave the stock an “outperform” rating in a research note on Monday, August 4th. Redburn Atlantic upgraded shares of LPL Financial from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $420.00 to $460.00 in a research note on Monday, June 9th. Barclays boosted their price objective on shares of LPL Financial from $460.00 to $463.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Finally, Citigroup lowered shares of LPL Financial from a “neutral” rating to a “sell” rating and set a $80.00 price objective on the stock. in a research note on Wednesday, July 9th. Ten analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, LPL Financial has an average rating of “Moderate Buy” and an average price target of $383.58.

Read Our Latest Research Report on LPLA

LPL Financial Stock Performance

Shares of LPLA stock opened at $362.44 on Friday. The company has a market capitalization of $29.00 billion, a price-to-earnings ratio of 24.79, a PEG ratio of 0.85 and a beta of 0.66. The company has a debt-to-equity ratio of 1.41, a quick ratio of 3.22 and a current ratio of 3.22. The company has a 50-day simple moving average of $373.43 and a 200 day simple moving average of $355.76. LPL Financial Holdings Inc. has a 52 week low of $204.41 and a 52 week high of $403.58.

LPL Financial (NASDAQ:LPLAGet Free Report) last announced its earnings results on Thursday, July 31st. The financial services provider reported $4.51 EPS for the quarter, topping the consensus estimate of $4.21 by $0.30. The business had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.77 billion. LPL Financial had a net margin of 7.91% and a return on equity of 39.80%. LPL Financial’s revenue was up 30.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.88 EPS. On average, sell-side analysts predict that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.20 annualized dividend and a dividend yield of 0.3%. LPL Financial’s payout ratio is presently 8.21%.

Insider Activity at LPL Financial

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

LPL Financial Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for LPL Financial (NASDAQ:LPLA)

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