NumerixS Investment Technologies Inc raised its holdings in shares of LPL Financial Holdings Inc (NASDAQ:LPLA) by 82.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,476 shares of the financial services provider’s stock after acquiring an additional 3,376 shares during the quarter. NumerixS Investment Technologies Inc’s holdings in LPL Financial were worth $518,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also modified their holdings of the company. Advisors Preferred LLC purchased a new stake in LPL Financial during the first quarter valued at approximately $26,000. CWM LLC lifted its position in LPL Financial by 66.7% during the fourth quarter. CWM LLC now owns 445 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 178 shares during the last quarter. Sandy Spring Bank purchased a new stake in LPL Financial during the first quarter valued at approximately $34,000. SG Americas Securities LLC purchased a new stake in LPL Financial during the first quarter valued at approximately $105,000. Finally, MERIAN GLOBAL INVESTORS UK Ltd purchased a new stake in LPL Financial during the first quarter valued at approximately $118,000. Institutional investors and hedge funds own 93.75% of the company’s stock.
A number of equities research analysts recently commented on the stock. BidaskClub cut shares of LPL Financial from a “buy” rating to a “hold” rating in a research report on Saturday, June 22nd. Citigroup upped their price target on shares of LPL Financial from $95.00 to $102.00 and gave the company an “underweight” rating in a research note on Thursday, May 23rd. Compass Point lowered shares of LPL Financial from a “buy” rating to a “neutral” rating and set a $84.13 price target on the stock. in a research note on Wednesday, May 8th. Zacks Investment Research upgraded shares of LPL Financial from a “hold” rating to a “buy” rating and set a $94.00 price target on the stock in a research note on Wednesday, May 8th. Finally, Goldman Sachs Group lowered shares of LPL Financial from a “conviction-buy” rating to a “buy” rating in a research note on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $84.16.
LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $1.93 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.60 by $0.33. LPL Financial had a net margin of 9.42% and a return on equity of 53.97%. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same period last year, the firm posted $1.01 earnings per share. The company’s revenue for the quarter was up 10.5% on a year-over-year basis. Equities analysts expect that LPL Financial Holdings Inc will post 7.08 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 20th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend was Friday, May 17th. LPL Financial’s dividend payout ratio (DPR) is presently 18.76%.
In other LPL Financial news, CEO Dan H. Arnold sold 1,222 shares of LPL Financial stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $85.00, for a total transaction of $103,870.00. Following the completion of the sale, the chief executive officer now directly owns 230,068 shares in the company, valued at $19,555,780. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Tracy Calder sold 500 shares of LPL Financial stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $84.25, for a total transaction of $42,125.00. The disclosure for this sale can be found here. Insiders have sold 7,722 shares of company stock worth $653,055 over the last ninety days. 2.20% of the stock is owned by insiders.
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 financial institutions in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, retirement and 529 education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and business development companies.
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