United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund lifted its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 110.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,100 shares of the financial services provider's stock after buying 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 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Millstone Evans Group LLC lifted its position in 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 purchasing an additional 48 shares during the period. Private Trust Co. NA lifted its position in 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 purchasing an additional 68 shares during the period. MassMutual Private Wealth & Trust FSB lifted its position in LPL Financial by 63.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 100 shares of the financial services provider's stock worth $33,000 after purchasing an additional 39 shares during the period. City Holding Co. acquired a new stake in LPL Financial in the first quarter worth approximately $34,000. Finally, TCTC Holdings LLC lifted its position in 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 purchasing an additional 56 shares during the period. 95.66% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research analysts have issued reports on the company. Redburn Atlantic raised LPL Financial from a "neutral" rating to a "buy" rating and upped their price target for the company from $420.00 to $460.00 in a report on Monday, June 9th. Wells Fargo & Company upped their price target on LPL Financial from $402.00 to $420.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Citigroup cut LPL Financial from a "neutral" rating to a "sell" rating and set a $80.00 price target on the stock. in a report on Wednesday, July 9th. JMP Securities upped their price target on LPL Financial from $420.00 to $440.00 and gave the company a "market outperform" rating in a report on Friday, May 9th. Finally, TD Cowen cut LPL Financial from a "strong-buy" rating to a "hold" rating and dropped their price target for the company from $406.00 to $403.00 in a report on Wednesday, July 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $381.08.
Check Out Our Latest Research Report on LPLA
Insider Buying and Selling
In other LPL Financial news, Director Greg Gates sold 1,500 shares of the business's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $382.63, for a total transaction of $573,945.00. Following the sale, the director directly owned 20,620 shares of the company's stock, valued at $7,889,830.60. The trade was a 6.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.30% of the company's stock.
LPL Financial Trading Down 6.5%
Shares of NASDAQ LPLA opened at $369.91 on Friday. The company's fifty day moving average is $378.53 and its 200-day moving average is $354.92. The stock has a market cap of $29.58 billion, a price-to-earnings ratio of 25.30, a P/E/G ratio of 0.97 and a beta of 0.64. LPL Financial Holdings Inc. has a twelve month low of $187.19 and a twelve month high of $403.58. The company has a quick ratio of 2.31, a current 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 results on Thursday, July 31st. The financial services provider reported $4.51 earnings per share for the quarter, topping analysts' consensus estimates of $4.21 by $0.30. The company 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 47.01%. The business's quarterly revenue was up 30.8% compared to the same quarter last year. During the same period last year, the firm posted $3.88 earnings per share. Equities research analysts predict that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.
LPL Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Friday, August 15th. LPL Financial's payout ratio is currently 8.21%.
LPL Financial Company Profile
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding LPLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report).
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