7,147 Shares in LPL Financial Holdings Inc. $LPLA Bought by South Dakota Investment Council

Key Points

• South Dakota Investment Council bought a new stake of 7,147 shares in LPL Financial worth about $2.38 million, while institutional investors collectively own roughly 95.66% of the stock.
• LPL beat expectations in the latest quarter with EPS of $5.23 versus $4.82 expected and revenue of $4.93 billion, up 8.4% year-over-year, signaling continued growth and solid margins.
• Analyst sentiment is largely positive—LPL carries a consensus rating of Moderate Buy with a consensus price target of $428.71 after several recent upgrades and target increases.

South Dakota Investment Council bought a new stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 7,147 shares of the financial services provider's stock, valued at approximately $2,378,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LPLA. Osterweis Capital Management Inc. bought a new position in shares of LPL Financial in the 2nd quarter valued at about $26,000. SJS Investment Consulting Inc. raised its holdings in LPL Financial by 912.5% during the third quarter. SJS Investment Consulting Inc. now owns 81 shares of the financial services provider's stock worth $27,000 after acquiring an additional 73 shares in the last quarter. Chung Wu Investment Group LLC acquired a new position in LPL Financial during the third quarter valued at approximately $27,000. Eastern Bank grew its stake in LPL Financial by 72.0% in the third quarter. Eastern Bank now owns 86 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 36 shares in the last quarter. Finally, SBI Securities Co. Ltd. grew its stake in LPL Financial by 116.2% in the second quarter. SBI Securities Co. Ltd. now owns 80 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 43 shares in the last quarter. 95.66% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

LPLA has been the subject of several recent analyst reports. Weiss Ratings reissued a "hold (c)" rating on shares of LPL Financial in a report on Wednesday, January 28th. Barclays lowered their target price on shares of LPL Financial from $444.00 to $434.00 and set an "overweight" rating on the stock in a report on Friday, January 30th. Jefferies Financial Group increased their price target on shares of LPL Financial from $426.00 to $440.00 and gave the company a "buy" rating in a research note on Friday, January 30th. JPMorgan Chase & Co. lifted their price objective on shares of LPL Financial from $433.00 to $439.00 and gave the company an "overweight" rating in a research report on Friday, January 30th. Finally, Wolfe Research set a $478.00 price objective on shares of LPL Financial in a research note on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, LPL Financial presently has a consensus rating of "Moderate Buy" and a consensus price target of $428.71.

LPL Financial Price Performance

Shares of LPLA opened at $311.88 on Thursday. The company's 50-day moving average is $353.72 and its 200-day moving average is $352.25. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.45 and a quick ratio of 2.45. The firm has a market capitalization of $24.98 billion, a PE ratio of 28.33, a PEG ratio of 0.68 and a beta of 0.59. LPL Financial Holdings Inc. has a fifty-two week low of $262.83 and a fifty-two week high of $403.58.

LPL Financial (NASDAQ:LPLA - Get Free Report) last announced its quarterly earnings results on Thursday, January 29th. The financial services provider reported $5.23 EPS for the quarter, beating analysts' consensus estimates of $4.82 by $0.41. The business had revenue of $4.93 billion for the quarter, compared to analyst estimates of $4.90 billion. LPL Financial had a net margin of 5.08% and a return on equity of 34.19%. LPL Financial's quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.25 EPS. Equities analysts forecast that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 24th. Investors of record on Tuesday, March 10th will be paid a $0.30 dividend. The ex-dividend date is Tuesday, March 10th. This represents a $1.20 annualized dividend and a yield of 0.4%. LPL Financial's payout ratio is 10.90%.

Insider Transactions at LPL Financial

In other LPL Financial news, Director Greg Gates sold 750 shares of the stock in a transaction on Friday, December 5th. The stock was sold at an average price of $370.97, for a total transaction of $278,227.50. Following the transaction, the director owned 14,620 shares in the company, valued at $5,423,581.40. This trade represents a 4.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Matthew Enyedi sold 2,109 shares of the business's stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $320.15, for a total transaction of $675,196.35. Following the completion of the sale, the director directly owned 14,121 shares of the company's stock, valued at approximately $4,520,838.15. The trade was a 12.99% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 9,498 shares of company stock valued at $3,336,602. Corporate insiders own 1.30% of the company's stock.

LPL Financial Profile

LPL Financial NASDAQ: LPLA is a U.S.-focused financial services firm that provides brokerage, custodial and advisory platforms to independent financial advisors, registered investment advisers and institutions. Operating primarily as an independent broker-dealer and custodian, the company supports a network of advisors with the operational, compliance and clearing infrastructure needed to manage client accounts and deliver investment advice outside of traditional wirehouse models.

The firm's product and service offerings include trade execution and clearing, custody services, retirement plan services, model portfolio and advisory platforms, wealth management technology, investment research and product access across equities, fixed income, mutual funds, exchange-traded funds and insurance and annuity solutions.

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