Strs Ohio Purchases Shares of 4,157 LPL Financial Holdings Inc. $LPLA

Key Points

• Strs Ohio acquired a new position in LPL Financial Holdings worth approximately $1.36 million, purchasing 4,157 shares in the first quarter.
• Analysts have mixed ratings on LPL Financial, with target prices ranging from $403 to $490, and an overall consensus rating of "Moderate Buy".
• LPL Financial announced a quarterly dividend of $0.30 per share, with a dividend yield of 0.4%, reflecting a payout ratio of 8.21%.

Strs Ohio purchased a new position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 4,157 shares of the financial services provider's stock, valued at approximately $1,360,000.

Other institutional investors also recently added to or reduced their stakes in the company. ProShare Advisors LLC grew its stake in shares of LPL Financial by 9.8% in the 4th quarter. ProShare Advisors LLC now owns 1,100 shares of the financial services provider's stock valued at $359,000 after purchasing an additional 98 shares during the last quarter. Snowden Capital Advisors LLC grew its stake in shares of LPL Financial by 58.2% in the 4th quarter. Snowden Capital Advisors LLC now owns 1,922 shares of the financial services provider's stock valued at $628,000 after purchasing an additional 707 shares during the last quarter. Twinbeech Capital LP grew its stake in shares of LPL Financial by 26.2% in the 4th quarter. Twinbeech Capital LP now owns 16,217 shares of the financial services provider's stock valued at $5,295,000 after purchasing an additional 3,365 shares during the last quarter. Vident Advisory LLC grew its stake in shares of LPL Financial by 58.0% in the 4th quarter. Vident Advisory LLC now owns 3,526 shares of the financial services provider's stock valued at $1,151,000 after purchasing an additional 1,294 shares during the last quarter. Finally, Voloridge Investment Management LLC purchased a new position in shares of LPL Financial in the 4th quarter valued at approximately $799,000. Institutional investors and hedge funds own 95.66% of the company's stock.

Insider Buying and Selling at LPL Financial

In other LPL Financial news, Director Aneri Jambusaria sold 80 shares of the business's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $361.25, for a total transaction of $28,900.00. Following the completion of the sale, the director owned 5,582 shares of the company's stock, valued at approximately $2,016,497.50. The trade was a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Greg Gates sold 1,500 shares of the business's 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 sale, the director directly owned 19,120 shares of the company's stock, valued at approximately $7,151,836. This trade represents a 7.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,580 shares of company stock valued at $1,671,235 over the last quarter. Insiders own 0.70% of the company's stock.

LPL Financial Trading Down 1.1%

LPL Financial stock traded down $3.62 during trading on Friday, hitting $335.75. The company's stock had a trading volume of 2,933,132 shares, compared to its average volume of 927,971. The stock has a market capitalization of $26.86 billion, a price-to-earnings ratio of 22.97, a P/E/G ratio of 0.78 and a beta of 0.66. The stock's fifty day moving average is $363.42 and its 200 day moving average is $353.48. LPL Financial Holdings Inc. has a 1-year low of $214.57 and a 1-year high of $403.58. 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 earnings results on Thursday, July 31st. The financial services provider reported $4.51 EPS for the quarter, beating the consensus estimate of $4.21 by $0.30. The firm had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.77 billion. LPL Financial had a return on equity of 39.80% and a net margin of 7.91%.The business's quarterly revenue was up 30.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.88 earnings per share. As a group, equities research analysts predict that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.4%. The ex-dividend date was Friday, August 15th. LPL Financial's dividend payout ratio is presently 8.21%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Wall Street Zen downgraded LPL Financial from a "buy" rating to a "hold" rating in a research note on Saturday, June 14th. Rothschild Redb cut LPL Financial from a "strong-buy" rating to a "hold" rating in a report on Friday. Keefe, Bruyette & Woods lifted their price objective on LPL Financial from $425.00 to $435.00 and gave the stock an "outperform" rating in a report on Monday, August 4th. Rothschild & Co Redburn cut LPL Financial from a "buy" rating to a "neutral" rating and set a $390.00 price objective for the company. in a report on Friday. Finally, Barclays reduced their price objective on LPL Financial from $463.00 to $460.00 and set an "overweight" rating for the company in a report on Tuesday, September 2nd. Ten equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, LPL Financial currently has an average rating of "Moderate Buy" and an average target price of $391.54.

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.