Teca Partners LP Cuts Stock Position in LPL Financial Holdings Inc. $LPLA

Key Points

• Teca Partners LP has reduced its position in LPL Financial Holdings Inc. by 27.9%, owning 38,123 shares after selling 14,752 shares during the first quarter.
• Several institutional investors have made notable adjustments to their holdings in LPL Financial, with stakes lifted by firms such as Millstone Evans Group LLC and Private Trust Co. NA.
• Analysts have varied perspectives on LPL Financial, with Wall Street Zen downgrading the stock to a "hold" while Barclays raised its price target to $463.00, maintaining an "overweight" rating.

Teca Partners LP decreased its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 27.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,123 shares of the financial services provider's stock after selling 14,752 shares during the period. LPL Financial comprises approximately 8.9% of Teca Partners LP's holdings, making the stock its 7th largest position. Teca Partners LP's holdings in LPL Financial were worth $12,472,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Summit Securities Group LLC bought a new stake in shares of LPL Financial during the 1st quarter valued at $26,000. Millstone Evans Group LLC lifted its stake 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 valued at $28,000 after buying an additional 48 shares in the last quarter. Private Trust Co. NA lifted its stake 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 valued at $32,000 after buying an additional 68 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake 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 valued at $33,000 after buying an additional 39 shares in the last quarter. Finally, City Holding Co. purchased a new position in shares of LPL Financial during the 1st quarter valued at $34,000. Institutional investors own 95.66% of the company's stock.

Analyst Upgrades and Downgrades

LPLA has been the topic of a number of analyst reports. Keefe, Bruyette & Woods lifted their target price on shares of LPL Financial from $425.00 to $435.00 and gave the company an "outperform" rating in a research note on Monday, August 4th. Morgan Stanley restated an "overweight" rating and set a $490.00 target price (up previously from $450.00) on shares of LPL Financial in a research note on Tuesday, July 15th. TD Cowen cut shares of LPL Financial from a "strong-buy" rating to a "hold" rating and decreased their price target for the stock from $406.00 to $403.00 in a research note on Wednesday, July 9th. Citigroup cut shares of LPL Financial from a "neutral" rating to a "sell" rating and set a $80.00 price target on the stock. in a research note on Wednesday, July 9th. Finally, Barclays boosted their price target on shares of LPL Financial from $460.00 to $463.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $383.58.

Insider Activity

In other news, Director Greg Gates sold 1,500 shares of the company's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $374.05, for a total transaction of $561,075.00. Following the sale, the director directly owned 19,120 shares in the company, valued at approximately $7,151,836. This represents a 7.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.30% of the company's stock.

LPL Financial Price Performance

Shares of NASDAQ LPLA traded down $0.35 during mid-day trading on Friday, hitting $364.48. 249,319 shares of the company's stock traded hands, compared to its average volume of 821,888. The company's 50-day moving average is $371.97 and its two-hundred day moving average is $355.59. The company has a debt-to-equity ratio of 1.41, a current ratio of 3.22 and a quick ratio of 3.22. The company has a market capitalization of $29.16 billion, a P/E ratio of 24.93, a PEG ratio of 0.85 and a beta of 0.66. LPL Financial Holdings Inc. has a 1 year low of $204.41 and a 1 year high of $403.58.

LPL Financial (NASDAQ:LPLA - Get Free Report) last announced its earnings results 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. The firm had revenue of $3.84 billion for the quarter, compared to analysts' expectations of $3.77 billion. LPL Financial had a net margin of 7.91% and a return on equity of 39.80%. The business's revenue was up 30.8% compared to the same quarter last year. During the same period in the prior year, the company earned $3.88 EPS. On average, equities analysts anticipate that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Friday, August 15th. LPL Financial's dividend payout ratio is currently 8.21%.

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.