Raiffeisen Bank International AG Boosts Holdings in LPL Financial Holdings Inc. $LPLA

Key Points

• Raiffeisen Bank International more than doubled its LPL Financial stake in the second quarter, increasing holdings by 113.5% to 5,384 shares worth approximately $1.45 million. Institutional investors and hedge funds collectively own 95.66% of LPLA.
• Analysts maintain a generally positive outlook, with 12 Buy ratings and five Holds producing a consensus “Moderate Buy” rating and an average price target of $405.79.
• LPL Financial exceeded quarterly expectations, reporting $5.84 in EPS and $5.19 billion in revenue, with year-over-year revenue growth of 35.2%. The company also paid a quarterly dividend of $0.30 per share, while insiders have sold $2.02 million of stock over the past 90 days.

Raiffeisen Bank International AG lifted its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 113.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,384 shares of the financial services provider's stock after purchasing an additional 2,862 shares during the quarter. Raiffeisen Bank International AG's holdings in LPL Financial were worth $1,450,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. NewEdge Advisors LLC lifted its position in shares of LPL Financial by 42.7% during the 1st quarter. NewEdge Advisors LLC now owns 3,525 shares of the financial services provider's stock valued at $1,153,000 after buying an additional 1,055 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of LPL Financial by 0.5% in the first quarter. Goldman Sachs Group Inc. now owns 209,126 shares of the financial services provider's stock valued at $68,414,000 after purchasing an additional 1,089 shares in the last quarter. Woodline Partners LP acquired a new stake in shares of LPL Financial in the 1st quarter worth $1,636,000. Focus Partners Wealth increased its position in LPL Financial by 12.2% during the first quarter. Focus Partners Wealth now owns 4,360 shares of the financial services provider's stock worth $1,426,000 after purchasing an additional 473 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in shares of LPL Financial during the 1st quarter valued at approximately $121,000. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on LPLA shares. TD Cowen upped their price objective on shares of LPL Financial from $372.00 to $377.00 and gave the stock a "hold" rating in a report on Tuesday. Truist Financial initiated coverage on shares of LPL Financial in a research note on Tuesday. They set a "hold" rating and a $389.00 target price on the stock. JPMorgan Chase & Co. increased their price target on LPL Financial from $408.00 to $428.00 and gave the company an "overweight" rating in a research report on Friday, July 31st. Weiss Ratings restated a "hold (c)" rating on shares of LPL Financial in a report on Friday, July 24th. Finally, UBS Group decreased their target price on LPL Financial from $395.00 to $391.00 and set a "buy" rating for the company in a research note on Wednesday, July 8th. Twelve research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $405.79.

Insider Activity at LPL Financial

In related news, Director Aneri Jambusaria sold 308 shares of LPL Financial stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $357.36, for a total value of $110,066.88. Following the transaction, the director owned 6,107 shares in the company, valued at approximately $2,182,397.52. This trade represents a 4.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew Enyedi sold 1,000 shares of the business's stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $352.72, for a total transaction of $352,720.00. Following the sale, the director owned 13,121 shares of the company's stock, valued at approximately $4,628,039.12. This represents a 7.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 5,735 shares of company stock valued at $2,020,845. Company insiders own 0.60% of the company's stock.

LPL Financial Stock Performance

NASDAQ LPLA opened at $359.33 on Friday. The business's 50 day moving average is $340.76 and its two-hundred day moving average is $315.54. The stock has a market capitalization of $28.29 billion, a price-to-earnings ratio of 28.65, a PEG ratio of 0.60 and a beta of 0.48. The company has a current ratio of 2.39, a quick ratio of 2.39 and a debt-to-equity ratio of 1.30. LPL Financial Holdings Inc. has a 12-month low of $260.15 and a 12-month high of $400.16.

LPL Financial (NASDAQ:LPLA - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The financial services provider reported $5.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.39 by $0.45. LPL Financial had a net margin of 5.13% and a return on equity of 32.20%. The company had revenue of $5.19 billion during the quarter, compared to the consensus estimate of $5.04 billion. During the same period last year, the firm earned $4.51 EPS. The company's revenue for the quarter was up 35.2% on a year-over-year basis. Research analysts expect that LPL Financial Holdings Inc. will post 24.06 EPS for the current year.

LPL Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were paid a $0.30 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.20 annualized dividend and a yield of 0.3%. LPL Financial's payout ratio is presently 9.57%.

About LPL Financial

LPL Financial NASDAQ: LPLA is a U.S.-focused financial services firm that provides brokerage, custodial and advisory platforms to independent financial advisors, registered investment advisers and institutions. Operating primarily as an independent broker-dealer and custodian, the company supports a network of advisors with the operational, compliance and clearing infrastructure needed to manage client accounts and deliver investment advice outside of traditional wirehouse models.

The firm's product and service offerings include trade execution and clearing, custody services, retirement plan services, model portfolio and advisory platforms, wealth management technology, investment research and product access across equities, fixed income, mutual funds, exchange-traded funds and insurance and annuity solutions.

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