Tran Capital Management L.P. Invests $958,000 in LPL Financial Holdings Inc. $LPLA

Key Points

• Tran Capital Management L.P. acquired a new stake in LPL Financial Holdings, purchasing 2,554 shares valued at approximately $958,000 during the second quarter.
• Institutional investors currently control 95.66% of LPL Financial's stock, with several hedge funds significantly increasing their positions in the first quarter.
• LPL Financial recently reported a robust earnings performance, with an EPS of $4.51, surpassing estimates and showcasing a year-over-year revenue increase of 30.8%.

Tran Capital Management L.P. acquired a new position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,554 shares of the financial services provider's stock, valued at approximately $958,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of LPL Financial by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 7,372,857 shares of the financial services provider's stock worth $2,411,956,000 after purchasing an additional 154,200 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of LPL Financial by 0.8% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,681,617 shares of the financial services provider's stock worth $877,264,000 after purchasing an additional 20,881 shares during the last quarter. Dodge & Cox boosted its holdings in LPL Financial by 224.1% during the 1st quarter. Dodge & Cox now owns 1,523,460 shares of the financial services provider's stock valued at $498,385,000 after acquiring an additional 1,053,351 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in LPL Financial by 35.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,516,060 shares of the financial services provider's stock valued at $495,964,000 after acquiring an additional 400,352 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in LPL Financial by 8.8% during the 1st quarter. JPMorgan Chase & Co. now owns 1,304,780 shares of the financial services provider's stock valued at $426,846,000 after acquiring an additional 105,665 shares during the period. 95.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LPLA has been the subject of a number of research analyst reports. Rothschild Redb cut LPL Financial from a "strong-buy" rating to a "hold" rating in a report on Friday. Redburn Atlantic upgraded LPL Financial from a "neutral" rating to a "buy" rating and raised their target price for the company from $420.00 to $460.00 in a report on Monday, June 9th. TD Cowen cut LPL Financial from a "strong-buy" rating to a "hold" rating and decreased their price objective for the company from $406.00 to $403.00 in a research note on Wednesday, July 9th. Keefe, Bruyette & Woods lifted their price objective on LPL Financial from $425.00 to $435.00 and gave the company an "outperform" rating in a research note on Monday, August 4th. Finally, Wall Street Zen cut LPL Financial from a "buy" rating to a "hold" rating in a research note on Saturday, June 14th. Ten investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $391.54.

Insider Activity

In other news, Director Greg Gates sold 1,500 shares of the stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $338.21, for a total value of $507,315.00. Following the completion of the sale, the director owned 17,620 shares in the company, valued at approximately $5,959,260.20. This trade represents a 7.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Aneri Jambusaria sold 80 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $361.25, for a total value of $28,900.00. Following the sale, the director owned 5,582 shares of the company's stock, valued at approximately $2,016,497.50. This trade represents a 1.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,580 shares of company stock valued at $1,671,235 over the last 90 days. 0.70% of the stock is currently owned by insiders.

LPL Financial Price Performance

Shares of NASDAQ:LPLA traded down $3.62 on Friday, hitting $335.75. The company had a trading volume of 2,933,132 shares, compared to its average volume of 927,971. The company has a current ratio of 3.22, a quick ratio of 3.22 and a debt-to-equity ratio of 1.41. LPL Financial Holdings Inc. has a 52-week low of $214.57 and a 52-week high of $403.58. The business has a 50 day moving average of $363.42 and a 200 day moving average of $353.48. The company has a market cap of $26.86 billion, a PE ratio of 22.97, a PEG ratio of 0.78 and a beta of 0.66.

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

LPL Financial Dividend Announcement

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

LPL Financial Company 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.