United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Acquires 1,100 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Key Points

• United Super Pty Ltd increased its stake in LPL Financial Holdings Inc. by 110% during the first quarter, bringing its total holdings to 2,100 shares valued at approximately $687,000.
• Analysts have issued mixed ratings on LPL Financial, with price targets ranging from $80.00 to $460.00, reflecting significant optimism from some and caution from others.
• In its most recent earnings report, LPL Financial reported $4.51 earnings per share, exceeding analysts' expectations and showing a 30.8% increase in revenue compared to the previous year.

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund raised its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 110.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,100 shares of the financial services provider's stock after acquiring an additional 1,100 shares during the period. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund's holdings in LPL Financial were worth $687,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in LPLA. PNC Financial Services Group Inc. raised its position in shares of LPL Financial by 45.2% during the first quarter. PNC Financial Services Group Inc. now owns 7,110 shares of the financial services provider's stock worth $2,326,000 after purchasing an additional 2,213 shares during the period. Pamalican Asset Management Ltd acquired a new stake in shares of LPL Financial during the first quarter worth $16,357,000. IFG Advisory LLC raised its position in shares of LPL Financial by 10.9% during the first quarter. IFG Advisory LLC now owns 813 shares of the financial services provider's stock worth $266,000 after purchasing an additional 80 shares during the period. US Bancorp DE raised its position in shares of LPL Financial by 4.7% during the first quarter. US Bancorp DE now owns 21,035 shares of the financial services provider's stock worth $6,883,000 after purchasing an additional 941 shares during the period. Finally, Lynwood Price Capital Management LP raised its position in shares of LPL Financial by 47.9% during the first quarter. Lynwood Price Capital Management LP now owns 52,500 shares of the financial services provider's stock worth $17,175,000 after purchasing an additional 17,000 shares during the period. Institutional investors own 95.66% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Keefe, Bruyette & Woods lifted their price target on LPL Financial from $425.00 to $435.00 and gave the company an "outperform" rating in a report on Monday. JMP Securities boosted their target price on LPL Financial from $420.00 to $440.00 and gave the company a "market outperform" rating in a research note on Friday, May 9th. Citigroup downgraded LPL Financial from a "neutral" rating to a "sell" rating and set a $80.00 target price on the stock. in a research note on Wednesday, July 9th. Redburn Atlantic upgraded LPL Financial from a "neutral" rating to a "buy" rating and boosted their target price for the company from $420.00 to $460.00 in a research note on Monday, June 9th. Finally, Barclays boosted their target price on LPL Financial from $460.00 to $463.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $383.58.

Insider Buying and Selling at LPL Financial

In other news, Director Greg Gates sold 1,500 shares of the stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $382.63, for a total value of $573,945.00. Following the transaction, the director owned 20,620 shares of the company's stock, valued at $7,889,830.60. This represents a 6.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.70% of the stock is currently owned by company insiders.

LPL Financial Price Performance

NASDAQ LPLA traded up $4.80 during trading hours on Wednesday, reaching $378.74. 557,081 shares of the company's stock were exchanged, compared to its average volume of 822,571. The stock has a market cap of $30.29 billion, a PE ratio of 25.91, a price-to-earnings-growth ratio of 0.89 and a beta of 0.66. LPL Financial Holdings Inc. has a one year low of $193.22 and a one year high of $403.58. The firm has a fifty day moving average of $378.40 and a 200-day moving average of $355.40. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 1.82.

LPL Financial (NASDAQ:LPLA - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The financial services provider reported $4.51 EPS for the quarter, beating analysts' consensus estimates of $4.21 by $0.30. The firm had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.77 billion. LPL Financial had a return on equity of 47.01% and a net margin of 7.91%. The business's quarterly revenue was up 30.8% compared to the same quarter last year. During the same period last year, the company earned $3.88 EPS. On average, equities research analysts predict that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.3%. LPL Financial's dividend payout ratio is 8.21%.

About LPL Financial

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.