Susquehanna Fundamental Investments LLC Invests $9.97 Million in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Susquehanna Fundamental Investments LLC acquired a new stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 37,727 shares of the financial services provider’s stock, valued at approximately $9,967,000. Susquehanna Fundamental Investments LLC owned about 0.05% of LPL Financial at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LPLA. Norges Bank bought a new position in LPL Financial during the 4th quarter worth $200,497,000. TD Asset Management Inc lifted its stake in shares of LPL Financial by 286.0% in the fourth quarter. TD Asset Management Inc now owns 828,369 shares of the financial services provider’s stock worth $188,553,000 after acquiring an additional 613,792 shares during the period. Epoch Investment Partners Inc. boosted its holdings in LPL Financial by 89.0% in the fourth quarter. Epoch Investment Partners Inc. now owns 774,297 shares of the financial services provider’s stock valued at $176,245,000 after acquiring an additional 364,597 shares during the last quarter. Gilder Gagnon Howe & Co. LLC increased its position 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 during the period. Finally, Coronation Fund Managers Ltd. raised its holdings in LPL Financial by 159.5% during the 1st quarter. Coronation Fund Managers Ltd. now owns 298,178 shares of the financial services provider’s stock worth $78,779,000 after purchasing an additional 183,290 shares during the last quarter. 95.66% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Dan H. Arnold sold 5,677 shares of the company’s stock in a transaction on Friday, June 14th. The shares were 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 owns 142,608 shares in the company, valued at approximately $39,546,624.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

LPL Financial Stock Down 0.6 %

NASDAQ LPLA traded down $1.56 during mid-day trading on Friday, hitting $263.66. The company’s stock had a trading volume of 652,126 shares, compared to its average volume of 457,910. The firm has a market capitalization of $19.70 billion, a price-to-earnings ratio of 19.91, a PEG ratio of 1.05 and a beta of 0.90. The company’s 50 day simple moving average is $276.39 and its 200 day simple moving average is $262.30. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 1.70. LPL Financial Holdings Inc. has a twelve month low of $200.18 and a twelve month high of $289.88.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $4.21 earnings per share (EPS) 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 firm had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.68 billion. Analysts anticipate that LPL Financial Holdings Inc. will post 15.75 earnings per share for the current year.

LPL Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.46%. The ex-dividend date was Monday, May 20th. LPL Financial’s dividend payout ratio (DPR) is presently 9.06%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. upped their price objective on shares of LPL Financial from $261.00 to $268.00 and gave the company a “neutral” rating in a research note on Thursday. JMP Securities reiterated a “market outperform” rating and set a $305.00 price target on shares of LPL Financial in a report on Wednesday, May 1st. TD Cowen boosted their price objective on LPL Financial from $271.00 to $279.00 and gave the company a “hold” rating in a research note on Monday, July 8th. Morgan Stanley raised LPL Financial from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $254.00 to $315.00 in a research note on Tuesday, April 9th. Finally, Jefferies Financial Group boosted their price target on LPL Financial from $322.00 to $334.00 and gave the company 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 five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $285.20.

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.