GSA Capital Partners LLP Makes New Investment in LPL Financial Holdings Inc. $LPLA

Key Points

• GSA Capital Partners initiated a position in LPL Financial during the second quarter, purchasing 3,658 shares worth approximately $1.03 million. Institutional investors collectively own 95.66% of the company.
• Analysts remain broadly positive, with 12 Buy ratings and four Holds; the stock has a consensus price target of $406.69, implying potential upside from its $368.20 opening price.
• LPL Financial exceeded quarterly expectations, reporting $5.84 in earnings per share and $5.19 billion in revenue, with revenue up 35.2% year over year. The company also declared a quarterly dividend of $0.30 per share.

GSA Capital Partners LLP bought a new position in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,658 shares of the financial services provider's stock, valued at approximately $1,030,000.

Other institutional investors have also recently made changes to their positions in the company. Osterweis Capital Management Inc. bought a new stake in shares of LPL Financial in the 2nd quarter worth $26,000. Clearstead Advisors LLC lifted its holdings in LPL Financial by 3,650.0% in the fourth quarter. Clearstead Advisors LLC now owns 75 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 73 shares during the period. Core Wealth Advisors LLC bought a new position in LPL Financial in the fourth quarter valued at about $36,000. Physician Wealth Advisors Inc. boosted its position in LPL Financial by 580.0% in the first quarter. Physician Wealth Advisors Inc. now owns 136 shares of the financial services provider's stock worth $41,000 after purchasing an additional 116 shares during the last quarter. Finally, Pinpoint Asset Management Singapore Pte. Ltd. purchased a new position in LPL Financial in the fourth quarter worth about $50,000. Hedge funds and other institutional investors own 95.66% of the company's stock.

Wall Street Analysts Forecast Growth

LPLA has been the subject of several research reports. TD Cowen upped their price target on shares of LPL Financial from $330.00 to $372.00 and gave the company a "hold" rating in a research report on Friday, July 31st. BMO Capital Markets raised their price objective on shares of LPL Financial from $300.00 to $390.00 and gave the stock an "outperform" rating in a report on Monday, August 3rd. William Blair restated an "outperform" rating on shares of LPL Financial in a research report on Thursday, June 4th. Barclays upped their target price on shares of LPL Financial from $394.00 to $401.00 and gave the company an "overweight" rating in a report on Friday, July 31st. Finally, JPMorgan Chase & Co. increased their price target on shares of LPL Financial from $408.00 to $428.00 and gave the stock an "overweight" rating in a research report on Friday, July 31st. Twelve research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $406.69.

Insider Buying and Selling

In other news, Director Aneri Jambusaria sold 308 shares of LPL Financial stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $306.00, for a total transaction of $94,248.00. Following the sale, the director owned 6,415 shares in the company, valued at $1,962,990. This trade represents a 4.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew Enyedi sold 1,000 shares of the business's stock in a transaction on Friday, July 31st. The stock was sold at an average price of $352.72, for a total transaction of $352,720.00. Following the completion of the transaction, the director directly owned 13,121 shares in the company, valued at $4,628,039.12. This trade represents a 7.08% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.60% of the company's stock.

LPL Financial Stock Performance

LPLA opened at $368.20 on Tuesday. The company has a 50 day simple moving average of $320.89 and a two-hundred day simple moving average of $315.63. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.39 and a quick ratio of 2.39. The firm has a market cap of $28.99 billion, a P/E ratio of 29.36, a PEG ratio of 0.62 and a beta of 0.48. LPL Financial Holdings Inc. has a 1-year low of $260.15 and a 1-year high of $400.16.

LPL Financial (NASDAQ:LPLA - Get Free Report) last issued its earnings results on Thursday, July 30th. The financial services provider reported $5.84 earnings per share for the quarter, topping the consensus estimate of $5.39 by $0.45. The company had revenue of $5.19 billion during the quarter, compared to the consensus estimate of $5.04 billion. LPL Financial had a net margin of 5.13% and a return on equity of 32.20%. LPL Financial's quarterly revenue was up 35.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.51 EPS. Equities analysts forecast that LPL Financial Holdings Inc. will post 24.09 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.3%. The ex-dividend date is Friday, August 14th. LPL Financial's dividend payout ratio is presently 9.57%.

LPL Financial Company 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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