Intech Investment Management LLC Boosts Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Intech Investment Management LLC grew its position in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 38.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,850 shares of the financial services provider's stock after purchasing an additional 11,703 shares during the quarter. Intech Investment Management LLC owned about 0.06% of LPL Financial worth $11,057,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Norges Bank acquired a new stake in LPL Financial in the fourth quarter worth about $200,497,000. TD Asset Management Inc boosted its stake in LPL Financial by 286.0% in the 4th quarter. TD Asset Management Inc now owns 828,369 shares of the financial services provider's stock worth $188,553,000 after purchasing an additional 613,792 shares in the last quarter. Epoch Investment Partners Inc. grew its position in LPL Financial by 89.0% during the 4th quarter. Epoch Investment Partners Inc. now owns 774,297 shares of the financial services provider's stock worth $176,245,000 after purchasing an additional 364,597 shares during the last quarter. Gilder Gagnon Howe & Co. LLC increased its stake in LPL Financial by 12,785.9% during the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 234,524 shares of the financial services provider's stock valued at $53,382,000 after purchasing an additional 232,704 shares in the last quarter. Finally, Coronation Fund Managers Ltd. raised its holdings in shares of LPL Financial by 159.5% in the first quarter. Coronation Fund Managers Ltd. now owns 298,178 shares of the financial services provider's stock worth $78,779,000 after buying an additional 183,290 shares during the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LPLA has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of LPL Financial from $261.00 to $268.00 and gave the company a "neutral" rating in a report on Thursday, July 11th. Barclays cut their price objective on LPL Financial from $319.00 to $313.00 and set an "overweight" rating on the stock in a report on Wednesday, July 10th. Morgan Stanley raised LPL Financial from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $254.00 to $315.00 in a report on Tuesday, April 9th. JMP Securities reiterated a "market outperform" rating and issued a $305.00 price target on shares of LPL Financial in a report on Wednesday, May 1st. Finally, UBS Group raised their price target on shares of LPL Financial from $285.00 to $290.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, LPL Financial currently has a consensus rating of "Hold" and a consensus price target of $285.20.

LPL Financial Stock Performance

Shares of NASDAQ:LPLA traded down $7.30 during trading on Friday, hitting $211.62. 4,331,346 shares of the stock traded hands, compared to its average volume of 954,589. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 1.70. The company has a fifty day moving average price of $272.75 and a two-hundred day moving average price of $262.40. LPL Financial Holdings Inc. has a 52-week low of $200.18 and a 52-week high of $289.88. The company has a market cap of $15.81 billion, a price-to-earnings ratio of 15.98, a P/E/G ratio of 0.84 and a beta of 0.90.

LPL Financial (NASDAQ:LPLA - Get Free Report) last released its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $4.21 earnings per share for the quarter, beating analysts' consensus estimates of $3.77 by $0.44. LPL Financial had a net margin of 9.71% and a return on equity of 55.22%. The company had revenue of $2.83 billion during the quarter, compared to analysts' expectations of $2.68 billion. As a group, equities analysts predict that LPL Financial Holdings Inc. will post 15.75 EPS for the current year.

LPL Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st were issued a $0.30 dividend. The ex-dividend date of this dividend was Monday, May 20th. This represents a $1.20 dividend on an annualized basis and a yield of 0.57%. LPL Financial's payout ratio is 9.06%.

Insiders Place Their Bets

In other news, CEO Dan H. Arnold sold 5,677 shares of the business's stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $277.31, for a total value of $1,574,288.87. Following the completion of the sale, the chief executive officer now directly owns 142,608 shares in the company, valued at $39,546,624.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is currently owned by company 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 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.