Versor Investments LP Invests $559,000 in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Versor Investments LP purchased a new position in LPL Financial Holdings Inc. (NASDAQ:LPLA) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,000 shares of the financial services provider’s stock, valued at approximately $559,000.

Other hedge funds have also made changes to their positions in the company. EdgeRock Capital LLC purchased a new stake in shares of LPL Financial in the fourth quarter worth approximately $25,000. Key Financial Inc purchased a new stake in shares of LPL Financial in the second quarter worth approximately $28,000. Gladius Capital Management LP purchased a new stake in shares of LPL Financial in the fourth quarter worth approximately $30,000. Riverview Trust Co purchased a new stake in shares of LPL Financial in the first quarter worth approximately $30,000. Finally, American National Bank purchased a new stake in shares of LPL Financial in the fourth quarter worth approximately $32,000. 95.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LPLA has been the topic of several recent research reports. Keefe, Bruyette & Woods cut their price objective on shares of LPL Financial from $326.00 to $315.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. StockNews.com lowered shares of LPL Financial from a “hold” rating to a “sell” rating in a research report on Tuesday. JPMorgan Chase & Co. raised their price objective on shares of LPL Financial from $261.00 to $268.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. UBS Group cut their price objective on shares of LPL Financial from $290.00 to $215.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 6th. Finally, Bank of America raised shares of LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 price objective on the stock in a research report on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, LPL Financial presently has a consensus rating of “Hold” and an average target price of $279.30.

Insider Transactions at LPL Financial

In other 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 value of $1,574,288.87. Following the sale, the chief executive officer now owns 142,608 shares in the company, valued at $39,546,624.48. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

LPL Financial Trading Down 0.2 %

Shares of LPLA stock opened at $219.33 on Thursday. The business’s 50 day moving average is $231.57 and its two-hundred day moving average is $256.20. The company has a market cap of $16.39 billion, a PE ratio of 16.57, a price-to-earnings-growth ratio of 1.29 and a beta of 0.90. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.77. LPL Financial Holdings Inc. has a 12 month low of $187.19 and a 12 month high of $289.88.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data 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. The business had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.89 billion. LPL Financial had a net margin of 8.91% and a return on equity of 52.14%. LPL Financial’s quarterly revenue was up 18.8% on a year-over-year basis. During the same quarter last year, the company posted $3.94 earnings per share. Equities analysts predict that LPL Financial Holdings Inc. will post 15.85 EPS for the current year.

LPL Financial Dividend Announcement

The business also recently disclosed 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 0.55%. LPL Financial’s payout ratio is 9.06%.

LPL Financial 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.