Teacher Retirement System of Texas Has $10.07 Million Stock Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Teacher Retirement System of Texas boosted its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 37.6% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 30,778 shares of the financial services provider's stock after purchasing an additional 8,408 shares during the period. Teacher Retirement System of Texas' holdings in LPL Financial were worth $10,069,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in LPLA. Private Trust Co. NA increased its stake in shares of 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 during the last quarter. DAVENPORT & Co LLC increased its stake in shares of LPL Financial by 8.9% in the first quarter. DAVENPORT & Co LLC now owns 1,918 shares of the financial services provider's stock worth $627,000 after acquiring an additional 156 shares during the last quarter. Summit Trail Advisors LLC increased its stake in shares of LPL Financial by 265.3% in the first quarter. Summit Trail Advisors LLC now owns 6,655 shares of the financial services provider's stock worth $2,177,000 after acquiring an additional 4,833 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of LPL Financial by 7.5% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 15,910 shares of the financial services provider's stock worth $5,205,000 after acquiring an additional 1,114 shares during the last quarter. Finally, Smallwood Wealth Investment Management LLC acquired a new position in shares of LPL Financial in the first quarter worth $102,000. Institutional investors and hedge funds own 95.66% of the company's stock.

LPL Financial Stock Performance

LPLA stock traded down $3.37 during mid-day trading on Monday, reaching $380.74. 535,010 shares of the stock traded hands, compared to its average volume of 850,214. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 1.82. LPL Financial Holdings Inc. has a 52 week low of $187.19 and a 52 week high of $394.00. The business has a 50-day moving average of $370.11 and a two-hundred day moving average of $348.79. The firm has a market capitalization of $30.45 billion, a PE ratio of 26.35, a P/E/G ratio of 1.05 and a beta of 0.64.

LPL Financial (NASDAQ:LPLA - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The financial services provider reported $5.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.54 by $0.61. LPL Financial had a net margin of 8.23% and a return on equity of 46.34%. The company had revenue of $3.67 billion during the quarter, compared to analysts' expectations of $3.63 billion. During the same period in the prior year, the company earned $3.83 earnings per share. The business's quarterly revenue was up 4.5% compared to the same quarter last year. As a group, equities analysts predict that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 30th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.32%. The ex-dividend date was Friday, May 30th. LPL Financial's payout ratio is presently 8.30%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on LPLA shares. Wall Street Zen downgraded shares of LPL Financial from a "buy" rating to a "hold" rating in a research note on Saturday, June 14th. Redburn Atlantic raised shares of LPL Financial from a "neutral" rating to a "buy" rating and upped their price target for the stock from $420.00 to $460.00 in a research note on Monday, June 9th. JMP Securities upped their price target on shares of LPL Financial from $420.00 to $440.00 and gave the stock a "market outperform" rating in a research note on Friday, May 9th. Citigroup downgraded shares of LPL Financial from a "buy" rating to a "neutral" rating and set a $400.00 target price on the stock. in a research report on Monday, June 9th. Finally, Barclays increased their target price on shares of LPL Financial from $400.00 to $450.00 and gave the stock an "overweight" rating in a research report on Monday, June 9th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, LPL Financial currently has a consensus rating of "Moderate Buy" and a consensus price target of $387.69.

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.