New York State Common Retirement Fund Buys 15,122 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

New York State Common Retirement Fund grew its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 35.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,263 shares of the financial services provider's stock after acquiring an additional 15,122 shares during the period. New York State Common Retirement Fund owned 0.07% of LPL Financial worth $18,733,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of LPLA. Graney & King LLC bought a new position in LPL Financial during the fourth quarter worth about $30,000. Private Trust Co. NA grew its holdings in LPL Financial by 234.5% during 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 grew its holdings in LPL Financial by 63.9% during 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. bought a new position in LPL Financial during the first quarter worth about $34,000. Finally, Fourth Dimension Wealth LLC bought a new position in LPL Financial during the fourth quarter worth about $40,000. Institutional investors own 95.66% of the company's stock.

Insider Buying and Selling

In other LPL Financial news, Director Greg Gates sold 1,500 shares of the business's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $382.63, for a total transaction of $573,945.00. Following the completion of the transaction, the director directly owned 20,620 shares in the company, valued at $7,889,830.60. The trade was a 6.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on LPLA. TD Cowen cut LPL Financial from a "strong-buy" rating to a "hold" rating and reduced their price target for the stock from $406.00 to $403.00 in a report on Wednesday, July 9th. Wells Fargo & Company raised their price objective on shares of LPL Financial from $402.00 to $420.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Redburn Atlantic upgraded shares of LPL Financial from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $420.00 to $460.00 in a research report on Monday, June 9th. Morgan Stanley restated an "overweight" rating and set a $490.00 price objective (up from $450.00) on shares of LPL Financial in a research report on Tuesday. Finally, Barclays raised their price objective on shares of LPL Financial from $450.00 to $460.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $372.15.

LPL Financial Price Performance

Shares of NASDAQ LPLA traded up $14.44 during midday trading on Friday, reaching $393.31. The company's stock had a trading volume of 1,062,424 shares, compared to its average volume of 833,709. The company has a debt-to-equity ratio of 1.82, a quick ratio of 2.31 and a current ratio of 2.31. LPL Financial Holdings Inc. has a fifty-two week low of $187.19 and a fifty-two week high of $404.79. The business's 50 day moving average price is $377.43 and its two-hundred day moving average price is $350.93. The company has a market cap of $31.46 billion, a P/E ratio of 27.22, a P/E/G ratio of 0.90 and a beta of 0.64.

LPL Financial (NASDAQ:LPLA - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The financial services provider reported $5.15 EPS for the quarter, beating the consensus estimate of $4.54 by $0.61. LPL Financial had a net margin of 8.23% and a return on equity of 46.34%. The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.63 billion. During the same period in the previous year, the business earned $3.83 earnings per share. The company's revenue was up 4.5% on a year-over-year basis. On average, analysts forecast that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 30th were given a dividend of $0.30 per share. The ex-dividend date was Friday, May 30th. This represents a $1.20 annualized dividend and a yield of 0.31%. LPL Financial's dividend payout ratio is currently 8.30%.

LPL Financial Company 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.