Teca Partners LP lifted its position in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 20.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 50,078 shares of the financial services provider's stock after acquiring an additional 8,547 shares during the quarter. LPL Financial accounts for approximately 10.4% of Teca Partners LP's holdings, making the stock its 6th largest position. Teca Partners LP owned 0.06% of LPL Financial worth $15,065,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in the company. Osterweis Capital Management Inc. acquired a new stake in shares of LPL Financial during the 2nd quarter valued at approximately $26,000. Clearstead Advisors LLC boosted its holdings in LPL Financial by 3,650.0% in the fourth quarter. Clearstead Advisors LLC now owns 75 shares of the financial services provider's stock worth $27,000 after purchasing an additional 73 shares during the period. Steigerwald Gordon & Koch Inc. boosted its holdings in LPL Financial by 550.0% in the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 78 shares of the financial services provider's stock worth $28,000 after purchasing an additional 66 shares during the period. Core Wealth Advisors LLC bought a new stake in LPL Financial during the fourth quarter valued at $36,000. Finally, Physician Wealth Advisors Inc. increased its stake in LPL Financial by 580.0% during the first quarter. Physician Wealth Advisors Inc. now owns 136 shares of the financial services provider's stock valued at $41,000 after purchasing an additional 116 shares during the last quarter. 95.66% of the stock is currently owned by institutional investors.
Insider Buying and Selling at LPL Financial
In related news, Director Aneri Jambusaria sold 308 shares of the stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $306.00, for a total value of $94,248.00. Following the sale, the director owned 6,415 shares of the company's stock, valued at $1,962,990. This trade represents a 4.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is currently owned by company insiders.
LPL Financial Price Performance
Shares of LPLA opened at $331.72 on Tuesday. LPL Financial Holdings Inc. has a 12 month low of $260.15 and a 12 month high of $403.58. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.56 and a quick ratio of 2.56. The stock has a fifty day moving average price of $297.19 and a 200 day moving average price of $316.45. The company has a market cap of $26.53 billion, a P/E ratio of 29.62, a PEG ratio of 0.64 and a beta of 0.50.
LPL Financial (NASDAQ:LPLA - Get Free Report) last posted its earnings results on Thursday, April 30th. The financial services provider reported $5.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.49 by $0.11. LPL Financial had a return on equity of 31.26% and a net margin of 4.93%.The company had revenue of $4.94 billion for the quarter, compared to analysts' expectations of $4.98 billion. During the same period last year, the business posted $5.15 earnings per share. The firm's quarterly revenue was up 34.6% compared to the same quarter last year. On average, research analysts forecast that LPL Financial Holdings Inc. will post 23.38 earnings per share for the current year.
Analyst Ratings Changes
A number of analysts have weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of LPL Financial from $390.00 to $408.00 and gave the stock an "overweight" rating in a report on Monday, July 13th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of LPL Financial in a report on Friday. Morgan Stanley boosted their price objective on shares of LPL Financial from $374.00 to $387.00 and gave the company an "overweight" rating in a research report on Friday, July 10th. Keefe, Bruyette & Woods began coverage on shares of LPL Financial in a research note on Wednesday, April 8th. They set an "outperform" rating and a $350.00 price objective on the stock. Finally, William Blair reissued an "outperform" rating on shares of LPL Financial in a report on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, LPL Financial currently has an average rating of "Moderate Buy" and an average target price of $397.92.
Get Our Latest Stock Report on LPL Financial
About LPL Financial
(
Free Report)
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.
Further Reading
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