LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Purchased by Markel Group Inc.

Markel Group Inc. grew its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 1.3% during the 1st quarter, HoldingsChannel reports. The firm owned 539,104 shares of the financial services provider’s stock after buying an additional 6,700 shares during the period. LPL Financial comprises approximately 1.6% of Markel Group Inc.’s holdings, making the stock its 18th biggest position. Markel Group Inc.’s holdings in LPL Financial were worth $176,362,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Graney & King LLC purchased a new stake in LPL Financial in the 4th quarter valued at $30,000. Private Trust Co. NA increased its position in shares of LPL Financial by 234.5% during the first quarter. Private Trust Co. NA now owns 97 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 68 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in shares of LPL Financial by 63.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 100 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 39 shares during the period. City Holding Co. acquired a new stake in LPL Financial in the 1st quarter valued at approximately $34,000. Finally, Fourth Dimension Wealth LLC purchased a new stake in LPL Financial in the fourth quarter valued at approximately $40,000. Institutional investors and hedge funds own 95.66% of the company’s stock.

LPL Financial Stock Performance

Shares of LPLA stock opened at $378.87 on Friday. The stock’s 50-day moving average is $377.43 and its two-hundred day moving average is $350.93. The company has a debt-to-equity ratio of 1.82, a quick ratio of 2.31 and a current ratio of 2.31. LPL Financial Holdings Inc. has a 1 year low of $187.19 and a 1 year high of $390.23. The firm has a market cap of $30.30 billion, a price-to-earnings ratio of 26.22, a PEG ratio of 0.90 and a beta of 0.64.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings results on Thursday, May 8th. The financial services provider reported $5.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.54 by $0.61. LPL Financial had a return on equity of 46.34% and a net margin of 8.23%. The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.63 billion. During the same quarter last year, the business posted $3.83 EPS. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. Analysts predict that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 30th were issued a $0.30 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.32%. LPL Financial’s payout ratio is 8.30%.

Insider Buying and Selling

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

Analysts Set New Price Targets

Several research analysts have recently commented on LPLA shares. Wells Fargo & Company raised their price target on LPL Financial from $402.00 to $420.00 and gave the stock an “overweight” rating in a research report on Friday, July 11th. Barclays lifted their price objective on shares of LPL Financial from $450.00 to $460.00 and gave the company an “overweight” rating in a report on Thursday, July 10th. Citigroup downgraded LPL Financial from a “neutral” rating to a “sell” rating and set a $80.00 price target on the stock. in a report on Wednesday, July 9th. TD Cowen lowered shares of LPL Financial from a “strong-buy” rating to a “hold” rating and cut their target price for the stock from $406.00 to $403.00 in a research note on Wednesday, July 9th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $490.00 price target (up previously from $450.00) on shares of LPL Financial in a research note on Tuesday. One analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $372.15.

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.