Raiffeisen Bank International AG Buys Shares of 962 LPL Financial Holdings Inc. (NASDAQ:LPLA)

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 purchased a new stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The fund purchased 962 shares of the financial services provider's stock, valued at approximately $324,000.

Other hedge funds have also recently made changes to their positions in the company. Millstone Evans Group LLC grew its position in LPL Financial by 123.1% in 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 grew its position in LPL Financial by 234.5% in 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 grew its position in LPL Financial by 63.9% in 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. purchased a new position in LPL Financial in the first quarter worth $34,000. Finally, TCTC Holdings LLC grew its position in LPL Financial by 116.7% in 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 currently owned by hedge funds and other institutional investors.

Insider Transactions at LPL Financial

In related news, Director Greg Gates sold 1,500 shares of the stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $374.05, for a total value of $561,075.00. Following the completion of the transaction, the director directly owned 19,120 shares of the company's stock, valued at $7,151,836. This represents a 7.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Keefe, Bruyette & Woods upped their target price on shares of LPL Financial from $425.00 to $435.00 and gave the stock an "outperform" rating in a research report on Monday, August 4th. Redburn Atlantic upgraded shares of LPL Financial from a "neutral" rating to a "buy" rating and upped their price target for the company from $420.00 to $460.00 in a research report on Monday, June 9th. TD Cowen lowered shares of LPL Financial from a "strong-buy" rating to a "hold" rating and cut their price target for the company from $406.00 to $403.00 in a research report on Wednesday, July 9th. Citigroup lowered shares of LPL Financial from a "neutral" rating to a "sell" rating and set a $80.00 price target for the company. in a research report on Wednesday, July 9th. Finally, Barclays upped their price target on shares of LPL Financial from $460.00 to $463.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. 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 data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $383.58.

LPL Financial Trading Up 0.3%

Shares of NASDAQ:LPLA traded up $0.99 during midday trading on Friday, hitting $369.84. 528,160 shares of the stock traded hands, compared to its average volume of 920,436. The stock has a market capitalization of $29.59 billion, a PE ratio of 25.30, a P/E/G ratio of 0.87 and a beta of 0.66. The business's 50 day moving average is $377.68 and its two-hundred day moving average is $355.83. The company has a quick ratio of 2.31, a current ratio of 3.22 and a debt-to-equity ratio of 1.41. LPL Financial Holdings Inc. has a one year low of $193.22 and a one year high of $403.58.

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

LPL Financial Announces Dividend

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

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.