LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Bought by AGF Management Ltd.

AGF Management Ltd. boosted its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 1.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 432,278 shares of the financial services provider’s stock after buying an additional 5,767 shares during the quarter. AGF Management Ltd. owned 0.58% of LPL Financial worth $120,735,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Ashton Thomas Private Wealth LLC acquired a new stake in shares of LPL Financial in the second quarter valued at approximately $25,000. Key Financial Inc acquired a new stake in LPL Financial during the second quarter worth approximately $28,000. Riverview Trust Co acquired a new stake in LPL Financial during the first quarter worth approximately $30,000. Crewe Advisors LLC raised its stake in LPL Financial by 360.7% during the second quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 101 shares during the period. Finally, Tortoise Investment Management LLC raised its stake in LPL Financial by 74.7% during the second quarter. Tortoise Investment Management LLC now owns 131 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 56 shares during the period. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

LPLA has been the topic of a number of recent analyst reports. JMP Securities increased their price target on shares of LPL Financial from $305.00 to $310.00 and gave the stock a “market outperform” rating in a research note on Friday, July 26th. TD Cowen increased their price target on shares of LPL Financial from $243.00 to $255.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. Barclays cut their price target on shares of LPL Financial from $313.00 to $273.00 and set an “overweight” rating on the stock in a research note on Friday, July 26th. JPMorgan Chase & Co. increased their price target on shares of LPL Financial from $261.00 to $268.00 and gave the stock a “neutral” rating in a research note on Thursday, July 11th. Finally, Jefferies Financial Group increased their price target on shares of LPL Financial from $322.00 to $334.00 and gave the stock a “buy” rating in a research note on Monday, July 8th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $279.30.

LPL Financial Stock Performance

LPL Financial stock opened at $209.48 on Wednesday. LPL Financial Holdings Inc. has a 12-month low of $187.19 and a 12-month high of $289.88. The company has a market capitalization of $15.65 billion, a price-to-earnings ratio of 15.82, a price-to-earnings-growth ratio of 1.21 and a beta of 0.88. The company has a debt-to-equity ratio of 1.77, a current ratio of 2.16 and a quick ratio of 2.16. The firm’s fifty day moving average price is $226.12 and its 200 day moving average price is $254.85.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings results on Thursday, July 25th. The financial services provider reported $3.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.66 by $0.22. LPL Financial had a net margin of 8.91% and a return on equity of 52.14%. The firm had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter in the previous year, the firm posted $3.94 EPS. The firm’s quarterly revenue was up 18.8% on a year-over-year basis. On average, research analysts forecast that LPL Financial Holdings Inc. will post 15.9 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.57%. The ex-dividend date was Friday, August 9th. LPL Financial’s dividend payout ratio (DPR) is 9.06%.

Insider Buying and Selling

In other LPL Financial news, CEO Dan H. Arnold sold 5,677 shares of the firm’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $277.31, for a total transaction of $1,574,288.87. Following the completion of the transaction, the chief executive officer now directly owns 142,608 shares of the company’s stock, valued at approximately $39,546,624.48. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.30% of the stock is currently owned by insiders.

LPL Financial Company 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.