California Public Employees Retirement System raised its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 0.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 181,411 shares of the financial services provider’s stock after buying an additional 568 shares during the period. California Public Employees Retirement System owned approximately 0.23% of LPL Financial worth $28,438,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Global Retirement Partners LLC grew its stake in LPL Financial by 36.0% during the 3rd quarter. Global Retirement Partners LLC now owns 389 shares of the financial services provider’s stock valued at $61,000 after acquiring an additional 103 shares in the last quarter. Berman Capital Advisors LLC increased its stake in LPL Financial by 99.5% in the 2nd quarter. Berman Capital Advisors LLC now owns 413 shares of the financial services provider’s stock valued at $55,000 after buying an additional 206 shares during the period. Koshinski Asset Management Inc. acquired a new stake in shares of LPL Financial during the 3rd quarter valued at $66,000. Dark Forest Capital Management LP purchased a new position in shares of LPL Financial during the 2nd quarter valued at $64,000. Finally, Signaturefd LLC raised its holdings in shares of LPL Financial by 46.2% during the third quarter. Signaturefd LLC now owns 519 shares of the financial services provider’s stock worth $81,000 after acquiring an additional 164 shares in the last quarter. 95.08% of the stock is owned by institutional investors and hedge funds.
In related news, Director Michelle Oroschakoff sold 17,010 shares of the business’s stock in a transaction on Tuesday, November 16th. The shares were sold at an average price of $166.97, for a total transaction of $2,840,159.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Edward Fandrey sold 1,784 shares of the company’s stock in a transaction on Tuesday, November 30th. The shares were sold at an average price of $158.56, for a total transaction of $282,871.04. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,065 shares of company stock worth $6,822,244. Company insiders own 1.90% of the company’s stock.
LPLA has been the topic of a number of research reports. Bank of America initiated coverage on LPL Financial in a report on Thursday, December 16th. They issued a “neutral” rating and a $184.00 price objective on the stock. JMP Securities reaffirmed a “hold” rating on shares of LPL Financial in a research note on Tuesday, October 26th. Morgan Stanley upped their price objective on shares of LPL Financial from $226.00 to $253.00 and gave the stock an “overweight” rating in a report on Friday, January 14th. UBS Group cut their target price on LPL Financial from $195.00 to $193.00 and set a “buy” rating on the stock in a report on Tuesday, January 4th. Finally, Truist Financial assumed coverage on LPL Financial in a research note on Tuesday, November 2nd. They set a “buy” rating and a $200.00 price target for the company. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $189.50.
Shares of LPLA opened at $160.03 on Friday. The company has a market capitalization of $12.83 billion, a PE ratio of 28.12, a price-to-earnings-growth ratio of 0.83 and a beta of 1.11. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.35 and a quick ratio of 1.35. LPL Financial Holdings Inc. has a one year low of $103.88 and a one year high of $181.92. The company’s fifty day moving average price is $165.11 and its 200 day moving average price is $156.63.
LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings results on Thursday, October 28th. The financial services provider reported $1.77 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.72 by $0.05. LPL Financial had a return on equity of 38.13% and a net margin of 6.43%. The company had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2.04 billion. During the same period last year, the business posted $1.44 earnings per share. The firm’s revenue was up 38.4% compared to the same quarter last year. Analysts anticipate that LPL Financial Holdings Inc. will post 6.93 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, November 29th. Shareholders of record on Thursday, November 11th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.62%. The ex-dividend date of this dividend was Tuesday, November 9th. LPL Financial’s dividend payout ratio is currently 17.57%.
About LPL Financial
LPL Financial Holdings, Inc serves independent financial advisors and financial institutions, providing them with the technology, research, clearing and compliance services, and practice management programs they need to create and grow their practices. It provides objective financial guidance to millions of American families seeking wealth management, retirement planning, financial planning and asset management solutions.
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