XTX Topco Ltd Makes New $3.06 Million Investment in LPL Financial Holdings Inc. (NASDAQ:LPLA)

XTX Topco Ltd acquired a new stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 9,355 shares of the financial services provider's stock, valued at approximately $3,060,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Millstone Evans Group LLC grew its holdings in LPL Financial by 123.1% in the first quarter. Millstone Evans Group LLC now owns 87 shares of the financial services provider's stock worth $28,000 after purchasing an additional 48 shares during the period. Private Trust Co. NA lifted 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 buying an additional 68 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in shares of LPL Financial by 63.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 100 shares of the financial services provider's stock worth $33,000 after buying an additional 39 shares in the last quarter. City Holding Co. bought a new position in shares of LPL Financial in the first quarter worth approximately $34,000. Finally, TCTC Holdings LLC lifted its stake in shares of LPL Financial by 116.7% in the first quarter. TCTC Holdings LLC now owns 104 shares of the financial services provider's stock worth $34,000 after buying an additional 56 shares in the last quarter. Hedge funds and other institutional investors own 95.66% of the company's stock.

Insider Activity at LPL Financial

In other news, Director Greg Gates sold 1,500 shares of the company's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $382.63, for a total value of $573,945.00. Following the sale, the director directly owned 20,620 shares of the company's stock, valued at $7,889,830.60. This represents a 6.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on LPLA shares. Barclays upped their target price on shares of LPL Financial from $460.00 to $463.00 and gave the stock an "overweight" rating in a research note on Friday. Citigroup downgraded shares of LPL Financial from a "neutral" rating to a "sell" rating and set a $80.00 target price on the stock. in a research note on Wednesday, July 9th. Wall Street Zen downgraded shares of LPL Financial from a "buy" rating to a "hold" rating in a research note on Saturday, June 14th. Wells Fargo & Company upped their target price on shares of LPL Financial from $402.00 to $420.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Finally, JMP Securities upped their target price 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. One analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $381.08.

LPL Financial Stock Performance

LPL Financial stock traded down $25.82 during mid-day trading on Friday, reaching $369.91. 3,277,005 shares of the company traded hands, compared to its average volume of 826,002. The company has a debt-to-equity ratio of 1.82, a current ratio of 2.31 and a quick ratio of 2.31. LPL Financial Holdings Inc. has a fifty-two week low of $187.19 and a fifty-two week high of $403.58. The company has a market capitalization of $29.59 billion, a price-to-earnings ratio of 25.60, a price-to-earnings-growth ratio of 0.98 and a beta of 0.64. The firm's fifty day moving average is $378.58 and its two-hundred day moving average is $354.67.

LPL Financial (NASDAQ:LPLA - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The financial services provider reported $4.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.21 by $0.30. LPL Financial had a net margin of 8.23% and a return on equity of 46.34%. The business had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same quarter in the prior year, the business posted $3.88 EPS. LPL Financial's revenue for the quarter was up 30.8% compared to the same quarter last year. On average, equities research analysts expect that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, August 15th. LPL Financial's dividend payout ratio is 8.30%.

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.