Railway Pension Investments Ltd Grows Position in LPL Financial Holdings Inc. $LPLA

Railway Pension Investments Ltd grew its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 26.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 96,500 shares of the financial services provider’s stock after acquiring an additional 20,000 shares during the quarter. Railway Pension Investments Ltd owned 0.12% of LPL Financial worth $36,185,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in LPLA. Summit Securities Group LLC bought a new position in shares of LPL Financial during the first quarter valued at about $26,000. SBI Securities Co. Ltd. increased its stake in LPL Financial by 116.2% in the 2nd quarter. SBI Securities Co. Ltd. now owns 80 shares of the financial services provider’s stock valued at $30,000 after buying an additional 43 shares during the last quarter. Bayforest Capital Ltd bought a new position in shares of LPL Financial during the 2nd quarter worth approximately $34,000. Maseco LLP purchased a new position in shares of LPL Financial in the 2nd quarter worth approximately $34,000. Finally, Smithfield Trust Co boosted its stake in shares of LPL Financial by 29.4% in the 2nd quarter. Smithfield Trust Co now owns 154 shares of the financial services provider’s stock worth $58,000 after buying an additional 35 shares during the last quarter. Institutional investors own 95.66% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on LPLA. Rothschild Redb cut LPL Financial from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 19th. Morgan Stanley lowered their target price on LPL Financial from $490.00 to $462.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 1st. TD Cowen increased their price target on shares of LPL Financial from $356.00 to $410.00 and gave the company a “hold” rating in a research report on Monday, November 3rd. Citizens Jmp raised their price objective on shares of LPL Financial from $455.00 to $475.00 and gave the stock a “market outperform” rating in a report on Friday, October 31st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of LPL Financial in a research note on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, LPL Financial presently has an average rating of “Moderate Buy” and a consensus price target of $429.00.

Insiders Place Their Bets

In related news, Director Greg Gates sold 1,500 shares of the stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $376.43, for a total transaction of $564,645.00. Following the transaction, the director owned 15,370 shares of the company’s stock, valued at approximately $5,785,729.10. This trade represents a 8.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Aneri Jambusaria sold 80 shares of LPL Financial stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $361.25, for a total transaction of $28,900.00. Following the completion of the transaction, the director owned 5,582 shares in the company, valued at approximately $2,016,497.50. The trade was a 1.41% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 3,830 shares of company stock valued at $1,336,675 in the last ninety days. 1.30% of the stock is owned by corporate insiders.

LPL Financial Trading Up 0.7%

Shares of LPLA stock opened at $356.05 on Friday. The business has a 50-day moving average price of $345.02 and a two-hundred day moving average price of $361.46. LPL Financial Holdings Inc. has a 12-month low of $262.83 and a 12-month high of $403.58. 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 $28.50 billion, a P/E ratio of 32.79, a price-to-earnings-growth ratio of 0.78 and a beta of 0.63.

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

LPL Financial Announces Dividend

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 $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Thursday, November 13th. LPL Financial’s payout ratio is presently 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.