EFG International AG Buys Shares of 24,793 LPL Financial Holdings Inc. $LPLA

EFG International AG purchased a new position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 24,793 shares of the financial services provider’s stock, valued at approximately $6,985,000.

Several other hedge funds have also added to or reduced their stakes in LPLA. Osterweis Capital Management Inc. acquired a new position in shares of LPL Financial during the second quarter worth $26,000. Clearstead Advisors LLC grew its stake in shares of LPL Financial by 3,650.0% in the fourth quarter. Clearstead Advisors LLC now owns 75 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 73 shares during the last quarter. Core Wealth Advisors LLC acquired a new stake in LPL Financial in the fourth quarter valued at $36,000. Physician Wealth Advisors Inc. increased its holdings in LPL Financial by 580.0% in the first quarter. Physician Wealth Advisors Inc. now owns 136 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 116 shares during the period. Finally, Graney & King LLC raised its position in LPL Financial by 49.5% during the 2nd quarter. Graney & King LLC now owns 139 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 46 shares during the last quarter. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LPLA has been the topic of a number of analyst reports. Wolfe Research reiterated an “outperform” rating and issued a $454.00 price target on shares of LPL Financial in a research report on Wednesday, August 12th. William Blair reaffirmed an “outperform” rating on shares of LPL Financial in a research note on Thursday, June 4th. UBS Group reduced their target price on LPL Financial from $395.00 to $391.00 and set a “buy” rating on the stock in a report on Wednesday, July 8th. Barclays increased their target price on shares of LPL Financial from $394.00 to $401.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Finally, Keefe, Bruyette & Woods raised their price target on shares of LPL Financial from $365.00 to $390.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Twelve investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $406.69.

LPL Financial Stock Down 0.6%

Shares of NASDAQ:LPLA opened at $361.88 on Wednesday. The company has a market capitalization of $28.49 billion, a price-to-earnings ratio of 28.86, a P/E/G ratio of 0.61 and a beta of 0.48. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.39 and a quick ratio of 2.39. The business’s 50-day moving average is $329.13 and its 200-day moving average is $315.09. LPL Financial Holdings Inc. has a 1 year low of $260.15 and a 1 year high of $400.16.

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

LPL Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be given a $0.30 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.20 annualized dividend and a yield of 0.3%. LPL Financial’s dividend payout ratio (DPR) is presently 9.57%.

Insider Buying and Selling at LPL Financial

In related news, Director Aneri Jambusaria sold 308 shares of the business’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $306.00, for a total value of $94,248.00. Following the transaction, the director directly owned 6,415 shares of the company’s stock, valued at approximately $1,962,990. The trade was a 4.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Greg Gates sold 4,119 shares of the stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $355.38, for a total transaction of $1,463,810.22. Following the transaction, the director owned 23,602 shares of the company’s stock, valued at $8,387,678.76. This represents a 14.86% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 5,427 shares of company stock valued at $1,910,778. Corporate insiders own 0.60% of the company’s stock.

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.