Tredje AP fonden Raises Stock Position in LPL Financial Holdings Inc. $LPLA

Tredje AP fonden increased its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 10.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,541 shares of the financial services provider’s stock after acquiring an additional 596 shares during the period. Tredje AP fonden’s holdings in LPL Financial were worth $2,453,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of LPLA. Cambridge Investment Research Advisors Inc. boosted its stake in LPL Financial by 8.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 1,609 shares of the financial services provider’s stock worth $527,000 after buying an additional 130 shares during the period. Amalgamated Bank boosted its stake in LPL Financial by 3.8% during the first quarter. Amalgamated Bank now owns 5,875 shares of the financial services provider’s stock worth $1,922,000 after buying an additional 213 shares during the period. DAVENPORT & Co LLC boosted its stake in shares of LPL Financial by 8.9% during the 1st quarter. DAVENPORT & Co LLC now owns 1,918 shares of the financial services provider’s stock worth $627,000 after purchasing an additional 156 shares during the period. Private Trust Co. NA boosted its stake in shares of LPL Financial by 234.5% during the 1st quarter. Private Trust Co. NA now owns 97 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 68 shares during the period. Finally, Teacher Retirement System of Texas boosted its stake in shares of LPL Financial by 37.6% during the 1st quarter. Teacher Retirement System of Texas now owns 30,778 shares of the financial services provider’s stock worth $10,069,000 after purchasing an additional 8,408 shares during the period. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Rothschild Redb cut LPL Financial from a “strong-buy” rating to a “hold” rating in a report on Friday, September 19th. Citizens Jmp boosted their price objective on LPL Financial from $455.00 to $475.00 and gave the company a “market outperform” rating in a report on Friday. Barclays boosted their target price on shares of LPL Financial from $411.00 to $420.00 and gave the company an “overweight” rating in a research note on Friday. Raymond James Financial raised shares of LPL Financial from an “underperform” rating to a “market perform” rating in a research note on Thursday, October 9th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of LPL Financial from $425.00 to $435.00 and gave the company an “outperform” rating in a research report on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $428.50.

Insider Buying and Selling at LPL Financial

In other LPL Financial news, Director Aneri Jambusaria sold 80 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $361.25, for a total value of $28,900.00. Following the completion of the sale, the director directly owned 5,582 shares in the company, valued at approximately $2,016,497.50. This trade represents a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Greg Gates sold 750 shares of the stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $314.42, for a total transaction of $235,815.00. Following the completion of the transaction, the director directly owned 16,870 shares of the company’s stock, valued at $5,304,265.40. The trade was a 4.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 3,830 shares of company stock valued at $1,333,105. Company insiders own 0.70% of the company’s stock.

LPL Financial Trading Up 11.5%

Shares of NASDAQ LPLA opened at $377.31 on Monday. The company has a debt-to-equity ratio of 1.41, a current ratio of 3.22 and a quick ratio of 3.22. The stock has a market capitalization of $30.18 billion, a P/E ratio of 34.74, a price-to-earnings-growth ratio of 0.88 and a beta of 0.63. LPL Financial Holdings Inc. has a 1-year low of $262.83 and a 1-year high of $403.58. The business has a fifty day moving average price of $339.77 and a 200 day moving average price of $356.63.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings results on Thursday, October 30th. The financial services provider reported $5.20 EPS for the quarter, beating the consensus estimate of $4.49 by $0.71. LPL Financial had a net margin of 5.35% and a return on equity of 40.11%. The business had revenue of $4.55 billion during the quarter, compared to analyst estimates of $4.08 billion. During the same period in the prior year, the firm posted $4.16 earnings per share. The company’s quarterly revenue was up 46.4% on a year-over-year basis. Equities research analysts expect that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Thursday, November 13th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Thursday, November 13th. LPL Financial’s dividend payout ratio is currently 11.05%.

LPL Financial 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.