Teca Partners LP Has $10.04 Million Stock Holdings in LPL Financial Holdings Inc. $LPLA

Teca Partners LP cut its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 29.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 26,774 shares of the financial services provider’s stock after selling 11,349 shares during the quarter. LPL Financial comprises 7.0% of Teca Partners LP’s holdings, making the stock its 8th biggest position. Teca Partners LP’s holdings in LPL Financial were worth $10,039,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of LPL Financial in the second quarter valued at approximately $402,312,000. Dodge & Cox grew its holdings in LPL Financial by 224.1% in the 1st quarter. Dodge & Cox now owns 1,523,460 shares of the financial services provider’s stock worth $498,385,000 after buying an additional 1,053,351 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in LPL Financial by 61.1% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,442,182 shares of the financial services provider’s stock valued at $915,745,000 after acquiring an additional 926,122 shares during the period. Alliancebernstein L.P. increased its position in LPL Financial by 550.5% in the 1st quarter. Alliancebernstein L.P. now owns 759,206 shares of the financial services provider’s stock valued at $248,367,000 after acquiring an additional 642,503 shares during the period. Finally, Vanguard Group Inc. raised its stake in LPL Financial by 8.3% during the 2nd quarter. Vanguard Group Inc. now owns 7,986,766 shares of the financial services provider’s stock valued at $2,994,798,000 after acquiring an additional 613,909 shares in the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LPLA has been the subject of several recent analyst reports. Rothschild & Co Redburn cut LPL Financial from a “buy” rating to a “neutral” rating and set a $390.00 price target for the company. in a research note on Friday, September 19th. Weiss Ratings reiterated a “hold (c)” rating on shares of LPL Financial in a research report on Friday, October 31st. Morgan Stanley lowered their target price on shares of LPL Financial from $490.00 to $462.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 1st. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $421.00 price target on shares of LPL Financial in a research note on Friday, October 31st. Finally, Citizens Jmp raised their price objective on shares of LPL Financial from $455.00 to $475.00 and gave the company a “market outperform” rating in a research note on Friday, October 31st. One investment 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 company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $429.00.

Insider Activity

In related news, Director Aneri Jambusaria sold 80 shares of the company’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 completion of the sale, the director owned 5,582 shares in the company, valued at approximately $2,016,497.50. This represents a 1.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Greg Gates sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $338.21, for a total transaction of $507,315.00. Following the completion of the transaction, the director directly owned 17,620 shares of the company’s stock, valued at $5,959,260.20. This represents a 7.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 3,830 shares of company stock valued at $1,336,675. Corporate insiders own 1.30% of the company’s stock.

LPL Financial Stock Performance

LPLA opened at $353.71 on Friday. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 1.49. The firm has a market cap of $28.31 billion, a PE ratio of 32.57, a P/E/G ratio of 0.78 and a beta of 0.63. The business has a fifty day simple moving average of $344.62 and a 200-day simple moving average of $361.75. LPL Financial Holdings Inc. has a fifty-two week low of $262.83 and a fifty-two week high of $403.58.

LPL Financial (NASDAQ:LPLA) last announced its earnings results on Thursday, October 30th. The financial services provider reported $5.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.49 by $0.71. LPL Financial had a return on equity of 36.80% and a net margin of 5.35%.The company had revenue of $4.55 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same period in the previous year, the firm earned $4.16 earnings per share. LPL Financial’s revenue for the quarter was up 46.4% compared to the same quarter last year. As a group, equities analysts predict that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Announces Dividend

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

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.