LPL Financial Holdings Inc. $LPLA Shares Acquired by Petrus Trust Company LTA

Key Points

• Petrus Trust Company LTA increased its stake in LPL Financial Holdings Inc. by 57.1% during Q1, acquiring an additional 753 shares and bringing their total holdings to 2,072 shares valued at approximately $678,000.
• In insider activity, Director Aneri Jambusaria sold 80 shares at $361.25 per share, while another director, Greg Gates, sold 1,500 shares at $374.05, resulting in a decrease in their ownership stakes.
• LPL Financial recently reported earnings of $4.51 per share, exceeding analyst estimates and marking a 30.8% increase in revenue compared to the same quarter last year.

Petrus Trust Company LTA grew its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 57.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,072 shares of the financial services provider's stock after purchasing an additional 753 shares during the period. Petrus Trust Company LTA's holdings in LPL Financial were worth $678,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of LPLA. Benjamin Edwards Inc. bought a new position in LPL Financial during the fourth quarter valued at approximately $250,000. Baird Financial Group Inc. grew its holdings in shares of LPL Financial by 8.9% during the 4th quarter. Baird Financial Group Inc. now owns 8,438 shares of the financial services provider's stock valued at $2,755,000 after purchasing an additional 693 shares during the last quarter. Cetera Investment Advisers raised its position in LPL Financial by 1.4% in the 4th quarter. Cetera Investment Advisers now owns 14,653 shares of the financial services provider's stock worth $4,784,000 after purchasing an additional 201 shares during the period. Colonial Trust Co SC lifted its stake in LPL Financial by 6.1% in the fourth quarter. Colonial Trust Co SC now owns 505 shares of the financial services provider's stock worth $165,000 after purchasing an additional 29 shares during the last quarter. Finally, FJ Capital Management LLC purchased a new stake in LPL Financial during the fourth quarter valued at about $2,921,000. 95.66% of the stock is owned by hedge funds and other institutional investors.

LPL Financial Stock Up 1.7%

Shares of LPLA traded up $5.85 during trading hours on Thursday, hitting $347.71. The company had a trading volume of 793,888 shares, compared to its average volume of 820,778. LPL Financial Holdings Inc. has a 52-week low of $205.50 and a 52-week high of $403.58. The firm has a fifty day moving average price of $369.09 and a 200-day moving average price of $354.27. The stock has a market capitalization of $27.82 billion, a price-to-earnings ratio of 23.78, a P/E/G ratio of 0.79 and a beta of 0.66. The company has a debt-to-equity ratio of 1.41, a quick ratio of 3.22 and a current ratio of 3.22.

LPL Financial (NASDAQ:LPLA - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The financial services provider reported $4.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.21 by $0.30. The business had revenue of $3.84 billion for the quarter, compared to analysts' expectations of $3.77 billion. LPL Financial had a return on equity of 39.80% and a net margin of 7.91%.The firm's quarterly revenue was up 30.8% on a year-over-year basis. During the same period in the prior year, the firm posted $3.88 EPS. On average, equities research analysts forecast that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were 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 was Friday, August 15th. LPL Financial's payout ratio is 8.21%.

Insider Buying and Selling at LPL Financial

In other LPL Financial news, Director Aneri Jambusaria sold 80 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $361.25, for a total transaction of $28,900.00. Following the transaction, the director directly owned 5,582 shares in the company, valued at $2,016,497.50. This represents a 1.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Greg Gates sold 1,500 shares of the company's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $374.05, for a total value of $561,075.00. Following the sale, the director owned 19,120 shares of the company's stock, valued at approximately $7,151,836. This represents a 7.27% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,580 shares of company stock worth $1,671,235. Insiders own 1.30% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. TD Cowen downgraded LPL Financial from a "strong-buy" rating to a "hold" rating and decreased their price objective for the stock from $406.00 to $403.00 in a report on Wednesday, July 9th. Redburn Atlantic upgraded LPL Financial from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $420.00 to $460.00 in a research report on Monday, June 9th. Wells Fargo & Company upped their price target on shares of LPL Financial from $402.00 to $420.00 and gave the company an "overweight" rating in a report on Friday, July 11th. 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 report on Wednesday, July 9th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $490.00 price objective (up from $450.00) on shares of LPL Financial in a research note on Tuesday, July 15th. Ten research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $383.33.

LPL Financial 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.