Truist Financial Corp Has $78.09 Million Holdings in LPL Financial Holdings Inc. $LPLA

Key Points

• Truist Financial Corp increased its stake in LPL Financial Holdings by 1.4%, owning approximately $78.09 million worth of LPLA shares as of recent SEC filings.
• Several institutional investors, including Vanguard Group Inc and Dodge & Cox, have also increased their holdings in LPL Financial, indicating strong interest from major financial players.
• Analyst ratings on LPL Financial reflect a mix of outlooks, with ten analysts rating the stock as a "Buy" while the average target price sits at $389.38.

Truist Financial Corp lifted its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 1.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 208,262 shares of the financial services provider's stock after purchasing an additional 2,777 shares during the quarter. Truist Financial Corp owned approximately 0.26% of LPL Financial worth $78,092,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings 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 in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its holdings 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 in the last quarter. Dodge & Cox grew its holdings in shares of LPL Financial by 224.1% during the 1st quarter. Dodge & Cox now owns 1,523,460 shares of the financial services provider's stock worth $498,385,000 after purchasing an additional 1,053,351 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of 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 worth $495,964,000 after buying an additional 400,352 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in shares of 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 worth $426,846,000 after buying an additional 105,665 shares during the period. Institutional investors and hedge funds own 95.66% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Morgan Stanley cut their target price on LPL Financial from $490.00 to $462.00 and set an "overweight" rating for the company in a research report on Wednesday. Rothschild & Co Redburn downgraded LPL Financial from a "buy" rating to a "neutral" rating and set a $390.00 target price for the company. in a research report on Friday, September 19th. Barclays cut their target price on LPL Financial from $463.00 to $460.00 and set an "overweight" rating for the company in a research report on Tuesday, September 2nd. Wells Fargo & Company raised their target price on LPL Financial from $402.00 to $420.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Finally, Keefe, Bruyette & Woods raised their target price on LPL Financial from $425.00 to $435.00 and gave the stock an "outperform" rating in a research report on Monday, August 4th. Ten equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $389.38.

LPL Financial Trading Down 4.7%

Shares of LPLA opened at $317.00 on Thursday. The stock has a fifty day moving average price of $356.76 and a two-hundred day moving average price of $353.91. The company has a market cap of $25.36 billion, a price-to-earnings ratio of 21.68, a PEG ratio of 0.78 and a beta of 0.61. LPL Financial Holdings Inc. has a 52-week low of $222.74 and a 52-week 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 company had revenue of $3.84 billion during the quarter, compared to analysts' expectations of $3.77 billion. LPL Financial had a return on equity of 39.80% and a net margin of 7.91%.The business's revenue for the quarter was up 30.8% on a year-over-year basis. During the same period last year, the firm earned $3.88 EPS. Analysts predict that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Dividend Announcement

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

Insider Buying and Selling at LPL Financial

In related news, Director Greg Gates sold 1,500 shares of the company's 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 represents a 7.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Aneri Jambusaria sold 80 shares of the company's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $361.25, for a total value of $28,900.00. Following the completion of the sale, the director owned 5,582 shares of the company's stock, valued at $2,016,497.50. This represents a 1.41% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,080 shares of company stock valued at $1,097,290 over the last three months. Insiders own 1.30% of the company's stock.

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.

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