Ethic Inc. Purchases 1,130 Shares of LPL Financial Holdings Inc. $LPLA

Key Points

• Ethic Inc. has increased its stake in LPL Financial Holdings Inc. by 20.6%, acquiring an additional 1,130 shares, bringing their total to 6,612 shares valued at approximately $2.41 million.
• Institutional investors collectively own 95.66% of LPL Financial's stock, indicating significant institutional confidence in the company.
• Multiple analysts have commented on LPL Financial, with notable actions including Morgan Stanley lowering its target price from $490.00 to $462.00 while maintaining an "overweight" rating.

Ethic Inc. increased its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 20.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,612 shares of the financial services provider's stock after purchasing an additional 1,130 shares during the quarter. Ethic Inc.'s holdings in LPL Financial were worth $2,413,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in LPLA. Summit Securities Group LLC bought a new position in shares of LPL Financial in the first quarter worth about $26,000. Millstone Evans Group LLC lifted its holdings in shares of LPL Financial by 123.1% in the first 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 last quarter. Private Trust Co. NA lifted its holdings in shares of LPL Financial by 234.5% in the first 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 last quarter. TCTC Holdings LLC lifted its holdings in shares of LPL Financial by 116.7% in the first quarter. TCTC Holdings LLC now owns 104 shares of the financial services provider's stock worth $34,000 after acquiring an additional 56 shares during the last quarter. Finally, Maseco LLP bought a new position in shares of LPL Financial in the second quarter worth about $34,000. Institutional investors own 95.66% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on LPLA shares. Morgan Stanley dropped their target price on shares of LPL Financial from $490.00 to $462.00 and set an "overweight" rating for the company in a report on Wednesday, October 1st. Raymond James Financial raised shares of LPL Financial from an "underperform" rating to a "market perform" rating in a report on Thursday, October 9th. The Goldman Sachs Group began coverage on LPL Financial in a research note on Friday, September 12th. They issued a "buy" rating and a $405.00 price objective for the company. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of LPL Financial in a research note on Wednesday, October 8th. Finally, UBS Group set a $455.00 price objective on LPL Financial in a research note on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $398.38.

Insider Buying and Selling

In other LPL Financial news, Director Aneri Jambusaria sold 80 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $361.25, for a total transaction of $28,900.00. Following the completion of the sale, the director owned 5,582 shares of the company's stock, valued at approximately $2,016,497.50. This represents a 1.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Greg Gates sold 750 shares of the stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $314.42, for a total transaction of $235,815.00. Following the sale, the director directly owned 16,870 shares of the company's stock, valued at $5,304,265.40. This represents a 4.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,830 shares of company stock valued at $1,333,105 in the last three months. Insiders own 1.30% of the company's stock.

LPL Financial Stock Performance

NASDAQ:LPLA opened at $340.25 on Friday. The company has a market capitalization of $27.22 billion, a PE ratio of 23.27, a P/E/G ratio of 0.79 and a beta of 0.61. The company has a 50 day simple moving average of $340.56 and a two-hundred day simple moving average of $354.23. The company has a debt-to-equity ratio of 1.41, a quick ratio of 3.22 and a current ratio of 3.22. LPL Financial Holdings Inc. has a fifty-two week low of $259.86 and a fifty-two week high of $403.58.

LPL Financial (NASDAQ:LPLA - Get Free Report) last released its earnings results on Thursday, July 31st. The financial services provider reported $4.51 earnings per share for the quarter, beating analysts' consensus estimates of $4.21 by $0.30. The business had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.77 billion. LPL Financial had a net margin of 7.91% and a return on equity of 39.80%. The company's revenue for the quarter was up 30.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.88 EPS. Research analysts anticipate that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Company 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.

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