962 Shares in LPL Financial Holdings Inc. (NASDAQ:LPLA) Purchased by Raiffeisen Bank International AG

Key Points

• Raiffeisen Bank International AG acquired a stake of 962 shares in LPL Financial Holdings Inc., valued at approximately $324,000, in the first quarter of the year.
• Several institutional investors have increased their positions in LPL Financial, contributing to a total of 95.66% of the company's stock being owned by such investors.
• LPL Financial reported a quarterly earnings per share of $4.51, exceeding analysts' expectations, with a revenue increase of 30.8% compared to the same quarter last year.

Raiffeisen Bank International AG acquired a new stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 962 shares of the financial services provider's stock, valued at approximately $324,000.

Other institutional investors also recently modified their holdings of the company. Millstone Evans Group LLC boosted its stake in LPL Financial by 123.1% during the first quarter. Millstone Evans Group LLC now owns 87 shares of the financial services provider's stock worth $28,000 after acquiring an additional 48 shares in the last quarter. Private Trust Co. NA boosted its stake 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 acquiring an additional 68 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake 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 acquiring an additional 39 shares in the last quarter. City Holding Co. bought a new position in LPL Financial during the first quarter worth $34,000. Finally, TCTC Holdings LLC boosted its stake in LPL Financial by 116.7% during the first quarter. TCTC Holdings LLC now owns 104 shares of the financial services provider's stock worth $34,000 after acquiring an additional 56 shares in the last quarter. 95.66% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Greg Gates sold 1,500 shares of LPL Financial stock in a transaction that occurred 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 directly owned 19,120 shares of the company's stock, valued at $7,151,836. The trade was a 7.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.30% of the stock is owned by corporate insiders.

LPL Financial Stock Up 0.3%

NASDAQ LPLA traded up $0.99 during trading on Friday, hitting $369.84. The company's stock had a trading volume of 528,160 shares, compared to its average volume of 920,436. The company has a debt-to-equity ratio of 1.41, a current ratio of 3.22 and a quick ratio of 2.31. The company has a market cap of $29.59 billion, a PE ratio of 25.30, a P/E/G ratio of 0.86 and a beta of 0.66. The business's 50 day simple moving average is $377.68 and its 200-day simple moving average is $355.84. LPL Financial Holdings Inc. has a fifty-two week low of $193.22 and a fifty-two week high of $403.58.

LPL Financial (NASDAQ:LPLA - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The financial services provider reported $4.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.21 by $0.30. The firm had revenue of $3.84 billion during 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 company's revenue for the quarter was up 30.8% compared to the same quarter last year. During the same period last year, the business posted $3.88 earnings per share. On average, equities analysts anticipate that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.3%. LPL Financial's payout ratio is currently 8.21%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on LPLA shares. Wall Street Zen lowered shares of LPL Financial from a "buy" rating to a "hold" rating in a research report on Saturday, June 14th. TD Cowen lowered shares of LPL Financial from a "strong-buy" rating to a "hold" rating and cut their target price for the stock from $406.00 to $403.00 in a research report on Wednesday, July 9th. Wells Fargo & Company increased their target price 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. Keefe, Bruyette & Woods raised their price objective on shares of LPL Financial from $425.00 to $435.00 and gave the company an "outperform" rating in a research report on Monday. Finally, JMP Securities raised their price objective on shares of LPL Financial from $420.00 to $440.00 and gave the company a "market outperform" rating in a research report on Friday, May 9th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $383.58.

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.