Thames Capital Management LLC Buys New Position in LPL Financial Holdings Inc. $LPLA

Thames Capital Management LLC acquired a new stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 28,954 shares of the financial services provider’s stock, valued at approximately $10,857,000. LPL Financial accounts for about 2.5% of Thames Capital Management LLC’s portfolio, making the stock its 19th largest holding.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Summit Securities Group LLC purchased a new position in shares of LPL Financial during the 1st quarter valued at about $26,000. Millstone Evans Group LLC raised its stake in LPL Financial by 123.1% during the 1st 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 period. SBI Securities Co. Ltd. lifted its holdings in LPL Financial by 116.2% during the second quarter. SBI Securities Co. Ltd. now owns 80 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 43 shares in the last quarter. TCTC Holdings LLC raised its position in shares of LPL Financial by 116.7% during the 1st quarter. TCTC Holdings LLC now owns 104 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 56 shares during the period. Finally, Maseco LLP bought a new position in LPL Financial in the 2nd quarter worth $34,000. Hedge funds and other institutional investors own 95.66% of the company’s stock.

LPL Financial Stock Down 0.5%

NASDAQ LPLA opened at $370.59 on Monday. LPL Financial Holdings Inc. has a 52 week low of $262.83 and a 52 week high of $403.58. The firm has a market capitalization of $29.66 billion, a price-to-earnings ratio of 34.12, a PEG ratio of 0.82 and a beta of 0.63. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 1.49. The company has a fifty day moving average of $342.72 and a two-hundred day moving average of $361.16.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings results on Thursday, October 30th. The financial services provider reported $5.20 EPS for the quarter, topping analysts’ consensus estimates of $4.49 by $0.71. LPL Financial had a net margin of 5.35% and a return on equity of 36.80%. The firm had revenue of $4.55 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same period in the previous year, the company earned $4.16 EPS. The firm’s revenue for the quarter was up 46.4% compared to the same quarter last year. On average, analysts predict that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Keefe, Bruyette & Woods boosted their price target on LPL Financial from $425.00 to $435.00 and gave the stock an “outperform” rating in a report on Monday, August 4th. Citizens Jmp raised their price objective on LPL Financial from $455.00 to $475.00 and gave the company a “market outperform” rating in a research report on Friday, October 31st. BMO Capital Markets assumed coverage on LPL Financial in a research report on Friday, October 3rd. They issued an “outperform” rating and a $365.00 target price on the stock. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $421.00 price objective on shares of LPL Financial in a research note on Friday, October 31st. Finally, JPMorgan Chase & Co. lowered their target price on LPL Financial from $463.00 to $438.00 and set an “overweight” rating for the company in a research report on Monday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $429.00.

Insider Transactions at LPL Financial

In related news, Director Aneri Jambusaria sold 80 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $361.25, for a total value of $28,900.00. Following the transaction, the director owned 5,582 shares of the company’s stock, valued at $2,016,497.50. This trade represents a 1.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Greg Gates sold 1,500 shares of the business’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $338.21, for a total transaction of $507,315.00. Following the completion of the sale, the director directly owned 17,620 shares of the company’s stock, valued at approximately $5,959,260.20. This trade represents a 7.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, 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.