LPL Financial Holdings Inc. $LPLA Shares Acquired by Allstate Corp

Key Points

• Allstate Corp increased its stake in LPL Financial Holdings Inc. by **61.6%**, now holding **3,561 shares** valued at approximately **$1,165,000**.
• LPL Financial recently reported **earnings of $4.51 per share**, surpassing analyst expectations, with a **30.8%** year-over-year increase in revenue.
• Several analysts have changed their ratings for LPL Financial, with **10 ratings of "Buy"**, one "Hold," and one "Sell," indicating strong investor interest.

Allstate Corp lifted its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 61.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,561 shares of the financial services provider's stock after acquiring an additional 1,357 shares during the period. Allstate Corp's holdings in LPL Financial were worth $1,165,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Summit Securities Group LLC purchased a new position in shares of LPL Financial during the 1st quarter worth about $26,000. Millstone Evans Group LLC lifted its holdings in shares of LPL Financial by 123.1% during the 1st quarter. Millstone Evans Group LLC now owns 87 shares of the financial services provider's stock worth $28,000 after acquiring an additional 48 shares during the period. Private Trust Co. NA lifted its holdings in shares of LPL Financial by 234.5% during the 1st quarter. Private Trust Co. NA now owns 97 shares of the financial services provider's stock worth $32,000 after acquiring an additional 68 shares during the period. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of LPL Financial by 63.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 100 shares of the financial services provider's stock worth $33,000 after acquiring an additional 39 shares during the period. Finally, City Holding Co. purchased a new position in shares of LPL Financial during the 1st quarter worth about $34,000. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

LPL Financial Stock Down 0.4%

NASDAQ:LPLA traded down $1.30 during trading hours on Wednesday, hitting $366.00. The stock had a trading volume of 658,798 shares, compared to its average volume of 812,777. The company has a current ratio of 3.22, a quick ratio of 3.22 and a debt-to-equity ratio of 1.41. LPL Financial Holdings Inc. has a 1-year low of $204.41 and a 1-year high of $403.58. The business has a 50 day simple moving average of $372.83 and a two-hundred day simple moving average of $355.60. The company has a market cap of $29.28 billion, a PE ratio of 25.03, a price-to-earnings-growth ratio of 0.84 and a beta of 0.66.

LPL Financial (NASDAQ:LPLA - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The financial services provider reported $4.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.21 by $0.30. LPL Financial had a net margin of 7.91% and a return on equity of 39.80%. The company had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter last year, the company earned $3.88 earnings per share. LPL Financial's revenue for the quarter was up 30.8% on a year-over-year basis. Analysts predict that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be given a $0.30 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.20 annualized dividend and a yield of 0.3%. LPL Financial's dividend payout ratio (DPR) is 8.21%.

Insider Transactions at LPL Financial

In other LPL Financial news, Director Greg Gates sold 1,500 shares of the stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $374.05, for a total value of $561,075.00. Following the completion of the sale, the director owned 19,120 shares of the company's stock, valued at $7,151,836. This trade represents a 7.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Redburn Atlantic upgraded shares of LPL Financial from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $420.00 to $460.00 in a report on Monday, June 9th. Morgan Stanley restated an "overweight" rating and issued a $490.00 price target (up previously from $450.00) on shares of LPL Financial in a report on Tuesday, July 15th. Citigroup lowered shares of LPL Financial from a "neutral" rating to a "sell" rating and set a $80.00 price target on the stock. in a report on Wednesday, July 9th. TD Cowen lowered shares of LPL Financial from a "strong-buy" rating to a "hold" rating and cut their price target for the company from $406.00 to $403.00 in a report on Wednesday, July 9th. Finally, Keefe, Bruyette & Woods raised their price target on shares of LPL Financial from $425.00 to $435.00 and gave the company an "outperform" rating in a report on Monday, August 4th. Ten equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $383.58.

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.