2,253 Shares in LPL Financial Holdings Inc. $LPLA Purchased by Martingale Asset Management L P

Key Points

• Martingale Asset Management L P acquired a new position in LPL Financial Holdings, purchasing 2,253 shares worth approximately $737,000 in the first quarter.
• Several institutional investors increased their stakes in LPL Financial, with Massachusetts Financial Services boosting its holdings by 35.9% and Principal Financial Group increasing theirs by an impressive 1,453.3% during the same period.
• Wall Street analysts have a consensus rating of "Moderate Buy" for LPL Financial, with ten analysts giving it a Buy rating and a consensus price target of $383.58.

Martingale Asset Management L P acquired a new position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,253 shares of the financial services provider's stock, valued at approximately $737,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in LPLA. Summit Securities Group LLC acquired a new stake in shares of LPL Financial during the first quarter worth $26,000. Millstone Evans Group LLC increased its stake in LPL Financial by 123.1% in 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 during the last quarter. Private Trust Co. NA increased its stake in LPL Financial by 234.5% in 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 during the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in LPL Financial by 63.9% in 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 during the last quarter. Finally, City Holding Co. acquired a new stake in LPL Financial in the 1st quarter valued at $34,000. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LPLA has been the topic of several recent research reports. TD Cowen lowered shares of LPL Financial from a "strong-buy" rating to a "hold" rating and lowered their price target for the company from $406.00 to $403.00 in a research note on Wednesday, July 9th. Barclays lifted their price target on shares of LPL Financial from $460.00 to $463.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Morgan Stanley reiterated an "overweight" rating and issued a $490.00 price target (up from $450.00) on shares of LPL Financial in a research note on Tuesday, July 15th. Redburn Atlantic upgraded shares of LPL Financial from a "neutral" rating to a "buy" rating and lifted their price target for the company from $420.00 to $460.00 in a research note on Monday, June 9th. Finally, Citigroup lowered 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. Ten analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $383.58.

LPL Financial Stock Performance

Shares of LPLA traded down $1.30 during midday trading on Wednesday, reaching $366.00. The stock had a trading volume of 658,798 shares, compared to its average volume of 886,424. The firm has a 50 day simple moving average of $372.56 and a 200-day simple moving average of $355.67. LPL Financial Holdings Inc. has a one year low of $204.41 and a one year high of $403.58. The firm has a market cap of $29.28 billion, a PE ratio of 25.03, a P/E/G ratio of 0.86 and a beta of 0.66. The company has a current ratio of 3.22, a quick ratio of 3.22 and a debt-to-equity ratio of 1.41.

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 company had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.77 billion. LPL Financial had a net margin of 7.91% and a return on equity of 39.80%. The company's quarterly revenue was up 30.8% on a year-over-year basis. During the same quarter last year, the firm posted $3.88 EPS. As a group, sell-side analysts anticipate that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Dividend Announcement

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

Insider Activity at LPL Financial

In related news, Director Greg Gates sold 1,500 shares of LPL Financial 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 completion of the sale, the director owned 19,120 shares of the company's stock, valued at approximately $7,151,836. The trade was a 7.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.30% of the company's stock.

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.