LPL Financial Holdings Inc. $LPLA Shares Acquired by Teca Partners LP

Teca Partners LP increased its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 20.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,078 shares of the financial services provider’s stock after buying an additional 8,547 shares during the quarter. LPL Financial comprises 10.4% of Teca Partners LP’s portfolio, making the stock its 6th largest holding. Teca Partners LP’s holdings in LPL Financial were worth $15,065,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in LPLA. Dodge & Cox raised its stake in LPL Financial by 18.6% during the 4th quarter. Dodge & Cox now owns 3,948,970 shares of the financial services provider’s stock valued at $1,410,454,000 after acquiring an additional 619,715 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of LPL Financial by 14.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,719,447 shares of the financial services provider’s stock worth $1,328,475,000 after purchasing an additional 477,094 shares in the last quarter. Capital World Investors grew its stake in shares of LPL Financial by 37.9% in the fourth quarter. Capital World Investors now owns 3,625,357 shares of the financial services provider’s stock worth $1,294,869,000 after purchasing an additional 996,806 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of LPL Financial by 9.0% in the fourth quarter. Janus Henderson Group PLC now owns 3,377,553 shares of the financial services provider’s stock worth $1,206,371,000 after purchasing an additional 280,202 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of LPL Financial by 36.3% during the first quarter. Principal Financial Group Inc. now owns 2,636,544 shares of the financial services provider’s stock valued at $793,163,000 after purchasing an additional 702,061 shares during the period. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Aneri Jambusaria sold 308 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $306.00, for a total transaction of $94,248.00. Following the completion of the transaction, the director owned 6,415 shares in the company, valued at approximately $1,962,990. This trade represents a 4.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on LPLA shares. UBS Group cut their price objective on shares of LPL Financial from $395.00 to $391.00 and set a “buy” rating on the stock in a research note on Wednesday, July 8th. JPMorgan Chase & Co. increased their target price on shares of LPL Financial from $390.00 to $408.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. Keefe, Bruyette & Woods assumed coverage on shares of LPL Financial in a research note on Wednesday, April 8th. They set an “outperform” rating and a $350.00 target price on the stock. Weiss Ratings restated a “hold (c)” rating on shares of LPL Financial in a research report on Friday. Finally, TD Cowen reduced their price target on shares of LPL Financial from $330.00 to $326.00 and set a “hold” rating for the company in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $397.92.

LPL Financial Stock Up 0.9%

LPLA opened at $331.72 on Tuesday. LPL Financial Holdings Inc. has a one year low of $260.15 and a one year high of $403.58. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.56 and a current ratio of 2.56. The stock’s fifty day moving average is $297.19 and its 200-day moving average is $316.45. The company has a market capitalization of $26.53 billion, a PE ratio of 29.62, a P/E/G ratio of 0.64 and a beta of 0.50.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data on Thursday, April 30th. The financial services provider reported $5.60 earnings per share for the quarter, beating the consensus estimate of $5.49 by $0.11. The business had revenue of $4.94 billion during the quarter, compared to analyst estimates of $4.98 billion. LPL Financial had a return on equity of 31.26% and a net margin of 4.93%.The company’s revenue was up 34.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.15 earnings per share. On average, equities analysts predict that LPL Financial Holdings Inc. will post 23.38 EPS for the current fiscal year.

About LPL Financial

LPL Financial (NASDAQ: LPLA) is a U.S.-focused financial services firm that provides brokerage, custodial and advisory platforms to independent financial advisors, registered investment advisers and institutions. Operating primarily as an independent broker-dealer and custodian, the company supports a network of advisors with the operational, compliance and clearing infrastructure needed to manage client accounts and deliver investment advice outside of traditional wirehouse models.

The firm’s product and service offerings include trade execution and clearing, custody services, retirement plan services, model portfolio and advisory platforms, wealth management technology, investment research and product access across equities, fixed income, mutual funds, exchange-traded funds and insurance and annuity solutions.