Employees Retirement System of Texas Raises Stock Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Employees Retirement System of Texas increased its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 37.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 231,500 shares of the financial services provider's stock after purchasing an additional 63,100 shares during the quarter. Employees Retirement System of Texas owned 0.31% of LPL Financial worth $75,587,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in LPLA. JPMorgan Chase & Co. lifted its position in LPL Financial by 27.6% in the third quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider's stock valued at $296,635,000 after purchasing an additional 276,166 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in LPL Financial by 168.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,178 shares of the financial services provider's stock valued at $711,000 after purchasing an additional 1,368 shares during the period. Dakota Wealth Management bought a new position in shares of LPL Financial during the fourth quarter valued at approximately $322,000. Legacy Financial Group LLC bought a new position in LPL Financial in the 4th quarter worth $446,000. Finally, Drive Wealth Management LLC purchased a new position in shares of LPL Financial during the fourth quarter valued at about $216,000. Hedge funds and other institutional investors own 95.66% of the company's stock.

LPL Financial Stock Down 0.8%

LPL Financial stock traded down $3.10 during mid-day trading on Friday, reaching $384.45. The stock had a trading volume of 1,194,292 shares, compared to its average volume of 839,726. LPL Financial Holdings Inc. has a one year low of $187.19 and a one year high of $390.23. The company has a 50-day moving average price of $336.50 and a two-hundred day moving average price of $339.01. The company has a market capitalization of $30.75 billion, a price-to-earnings ratio of 27.38, a PEG ratio of 0.94 and a beta of 0.65. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16.

LPL Financial (NASDAQ:LPLA - Get Free Report) last issued its earnings results on Thursday, May 8th. The financial services provider reported $5.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.54 by $0.61. The business had revenue of $3.67 billion during the quarter, compared to analysts' expectations of $3.63 billion. LPL Financial had a net margin of 8.55% and a return on equity of 49.41%. The business's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the previous year, the company earned $3.83 earnings per share. On average, analysts expect that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 30th will be given a $0.30 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.20 annualized dividend and a yield of 0.31%. LPL Financial's dividend payout ratio (DPR) is presently 8.30%.

Wall Street Analyst Weigh In

LPLA has been the topic of a number of research analyst reports. JMP Securities upped their target price on LPL Financial from $420.00 to $440.00 and gave the stock a "market outperform" rating in a report on Friday, May 9th. Wells Fargo & Company reduced their price target on LPL Financial from $405.00 to $342.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Citigroup decreased their price objective on LPL Financial from $415.00 to $400.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. JPMorgan Chase & Co. boosted their target price on shares of LPL Financial from $397.00 to $405.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Finally, Barclays upped their target price on shares of LPL Financial from $365.00 to $400.00 and gave the stock an "overweight" rating in a research report on Monday, May 12th. Thirteen investment analysts have rated the stock with a buy rating, According to MarketBeat, LPL Financial has an average rating of "Buy" and an average target price of $377.50.

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.