California State Teachers Retirement System Buys 4,423 Shares of LPL Financial Holdings Inc. $LPLA

California State Teachers Retirement System boosted its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 3.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 121,799 shares of the financial services provider's stock after purchasing an additional 4,423 shares during the period. California State Teachers Retirement System owned about 0.15% of LPL Financial worth $34,308,342 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Saudi Central Bank lifted its holdings in LPL Financial by 90.0% in the second quarter. Saudi Central Bank now owns 5,613 shares of the financial services provider's stock valued at $1,581,000 after acquiring an additional 2,659 shares during the period. Raiffeisen Bank International AG boosted its holdings in shares of LPL Financial by 113.5% in the 2nd quarter. Raiffeisen Bank International AG now owns 5,384 shares of the financial services provider's stock valued at $1,450,000 after purchasing an additional 2,862 shares during the last quarter. Concurrent Investment Advisors LLC increased its stake in shares of LPL Financial by 40.0% in the second quarter. Concurrent Investment Advisors LLC now owns 2,622 shares of the financial services provider's stock worth $739,000 after buying an additional 749 shares during the last quarter. Nykredit A S bought a new stake in shares of LPL Financial in the 2nd quarter worth $9,364,000. Finally, CTC Alternative Strategies Ltd. acquired a new stake in shares of LPL Financial in the second quarter worth about $203,000. Hedge funds and other institutional investors own 95.66% of the company's stock.

LPL Financial Trading Down 0.7%

LPL Financial stock traded down $2.39 during mid-day trading on Tuesday, hitting $343.27. The stock had a trading volume of 135,391 shares, compared to its average volume of 896,961. The company has a current ratio of 2.39, a quick ratio of 2.39 and a debt-to-equity ratio of 1.30. LPL Financial Holdings Inc. has a 12 month low of $260.15 and a 12 month high of $400.16. The stock has a 50-day simple moving average of $348.09 and a two-hundred day simple moving average of $316.76. The stock has a market capitalization of $27.03 billion, a PE ratio of 27.37, a P/E/G ratio of 0.60 and a beta of 0.48.

LPL Financial (NASDAQ:LPLA - Get Free Report) last posted its earnings results on Thursday, July 30th. The financial services provider reported $5.84 earnings per share for the quarter, topping analysts' consensus estimates of $5.39 by $0.45. The company had revenue of $5.19 billion for the quarter, compared to analyst estimates of $5.04 billion. LPL Financial had a net margin of 5.13% and a return on equity of 32.20%. The firm's revenue was up 35.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.51 EPS. As a group, sell-side analysts forecast that LPL Financial Holdings Inc. will post 24.06 EPS for the current year.

LPL Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were paid a $0.30 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.20 annualized dividend and a dividend yield of 0.3%. LPL Financial's dividend payout ratio (DPR) is presently 9.57%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Keefe, Bruyette & Woods lifted their price target on shares of LPL Financial from $365.00 to $390.00 and gave the company an "outperform" rating in a research note on Friday, July 31st. Weiss Ratings reiterated a "hold (c)" rating on shares of LPL Financial in a report on Friday, July 24th. William Blair restated an "outperform" rating on shares of LPL Financial in a research report on Thursday, June 4th. BMO Capital Markets upped their price objective on shares of LPL Financial from $300.00 to $390.00 and gave the company an "outperform" rating in a report on Monday, August 3rd. Finally, Wolfe Research reaffirmed an "outperform" rating and issued a $454.00 target price on shares of LPL Financial in a research report on Wednesday, August 12th. Twelve analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $405.79.

Insider Activity at LPL Financial

In other news, Director Matthew Enyedi sold 1,000 shares of the company's stock in a transaction on Friday, July 31st. The shares were sold at an average price of $352.72, for a total transaction of $352,720.00. Following the transaction, the director directly owned 13,121 shares of the company's stock, valued at $4,628,039.12. This represents a 7.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Greg Gates sold 4,119 shares of the company's stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $355.38, for a total value of $1,463,810.22. Following the completion of the sale, the director directly owned 23,602 shares of the company's stock, valued at $8,387,678.76. The trade was a 14.86% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 6,175 shares of company stock worth $2,173,912. Insiders own 0.60% of the company's stock.

About LPL Financial

LPL Financial Holdings Inc NASDAQ: LPLA is the parent company of LPL Financial LLC, an independent broker-dealer and registered investment adviser that provides services and support to financial advisors. Rather than operating primarily through a proprietary branch network, LPL enables independent financial professionals, registered investment advisers, and advisors affiliated with banks and credit unions to operate their own practices while accessing investment products, technology, and business resources.

The company's platform supports brokerage and fee-based advisory services, retirement plan services, insurance and annuity products, alternative investments, cash management, research, compliance, and practice management.

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