Brown Brothers Harriman & Co. Purchases 15,030 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Brown Brothers Harriman & Co. increased its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 18.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 95,964 shares of the financial services provider’s stock after buying an additional 15,030 shares during the quarter. Brown Brothers Harriman & Co. owned 0.13% of LPL Financial worth $26,803,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. DGS Capital Management LLC lifted its stake in shares of LPL Financial by 2.8% in the first quarter. DGS Capital Management LLC now owns 1,625 shares of the financial services provider’s stock worth $429,000 after acquiring an additional 44 shares during the period. Oliver Luxxe Assets LLC increased its position in shares of LPL Financial by 0.6% during the fourth quarter. Oliver Luxxe Assets LLC now owns 8,152 shares of the financial services provider’s stock worth $1,856,000 after buying an additional 48 shares during the period. 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 buying an additional 56 shares during the last quarter. Gulf International Bank UK Ltd boosted its position in LPL Financial by 0.9% during the first quarter. Gulf International Bank UK Ltd now owns 6,410 shares of the financial services provider’s stock valued at $1,693,000 after acquiring an additional 60 shares during the last quarter. Finally, LVW Advisors LLC grew its holdings in LPL Financial by 1.9% during the 1st quarter. LVW Advisors LLC now owns 3,245 shares of the financial services provider’s stock worth $857,000 after acquiring an additional 61 shares during the period. Institutional investors own 95.66% of the company’s stock.

LPL Financial Price Performance

Shares of NASDAQ LPLA opened at $205.71 on Monday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 2.16 and a current ratio of 2.16. The firm’s 50-day simple moving average is $221.86 and its 200 day simple moving average is $253.67. The stock has a market cap of $15.37 billion, a price-to-earnings ratio of 15.54, a PEG ratio of 1.20 and a beta of 0.88. LPL Financial Holdings Inc. has a fifty-two week low of $187.19 and a fifty-two week high of $289.88.

LPL Financial (NASDAQ:LPLA) last posted its earnings results on Thursday, July 25th. The financial services provider reported $3.88 earnings per share for the quarter, beating analysts’ consensus estimates of $3.66 by $0.22. LPL Financial had a return on equity of 52.14% and a net margin of 8.91%. The company had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.89 billion. During the same quarter last year, the company earned $3.94 earnings per share. The company’s revenue for the quarter was up 18.8% on a year-over-year basis. As a group, research analysts anticipate that LPL Financial Holdings Inc. will post 15.9 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were paid a $0.30 dividend. The ex-dividend date was Friday, August 9th. This represents a $1.20 annualized dividend and a dividend yield of 0.58%. LPL Financial’s payout ratio is 9.06%.

Wall Street Analysts Forecast Growth

LPLA has been the topic of several research analyst reports. TD Cowen upped their target price on LPL Financial from $243.00 to $255.00 and gave the company a “hold” rating in a research report on Friday, July 26th. Jefferies Financial Group lifted their price objective on shares of LPL Financial from $322.00 to $334.00 and gave the company a “buy” rating in a research note on Monday, July 8th. Wells Fargo & Company began coverage on shares of LPL Financial in a research note on Thursday. They set an “equal weight” rating and a $235.00 target price on the stock. UBS Group decreased their price target on shares of LPL Financial from $290.00 to $215.00 and set a “neutral” rating for the company in a research note on Tuesday, August 6th. Finally, StockNews.com raised shares of LPL Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, LPL Financial currently has an average rating of “Hold” and an average target price of $275.27.

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.