DekaBank Deutsche Girozentrale Buys 91 Shares of LPL Financial Holdings Inc. $LPLA

DekaBank Deutsche Girozentrale boosted its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 1.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,718 shares of the financial services provider’s stock after acquiring an additional 91 shares during the period. DekaBank Deutsche Girozentrale’s holdings in LPL Financial were worth $3,173,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of LPL Financial by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 7,372,857 shares of the financial services provider’s stock worth $2,411,956,000 after buying an additional 154,200 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of LPL Financial by 0.8% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,681,617 shares of the financial services provider’s stock worth $877,264,000 after buying an additional 20,881 shares in the last quarter. WCM Investment Management LLC boosted its holdings in shares of LPL Financial by 5.8% during the 2nd quarter. WCM Investment Management LLC now owns 1,730,777 shares of the financial services provider’s stock worth $631,664,000 after buying an additional 95,423 shares in the last quarter. Dodge & Cox boosted its holdings in shares of LPL Financial by 224.1% during 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. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of LPL Financial by 35.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,516,060 shares of the financial services provider’s stock worth $495,964,000 after buying an additional 400,352 shares in the last quarter. 95.66% of the stock is currently owned by institutional investors.

Insider Buying and Selling at LPL Financial

In related news, Director Aneri Jambusaria sold 80 shares of LPL Financial stock in a transaction dated Tuesday, September 2nd. The stock was 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 of the company’s stock, valued at approximately $2,016,497.50. This trade represents a 1.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Greg Gates sold 750 shares of LPL Financial stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $314.42, for a total value of $235,815.00. Following the completion of the sale, the director directly owned 16,870 shares of the company’s stock, valued at approximately $5,304,265.40. This trade represents a 4.26% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,830 shares of company stock valued at $1,333,105. Insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

LPLA has been the topic of a number of research analyst reports. BMO Capital Markets initiated coverage on LPL Financial in a report on Friday, October 3rd. They set an “outperform” rating and a $365.00 price target on the stock. Barclays cut their target price on LPL Financial from $460.00 to $411.00 and set an “overweight” rating on the stock in a report on Wednesday, October 8th. Raymond James Financial raised LPL Financial from an “underperform” rating to a “market perform” rating in a research report on Thursday, October 9th. The Goldman Sachs Group started coverage on LPL Financial in a research report on Friday, September 12th. They issued a “buy” rating and a $405.00 price target for the company. Finally, Wells Fargo & Company increased their price target on LPL Financial from $402.00 to $420.00 and gave the company an “overweight” rating in a research report on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, LPL Financial presently has a consensus rating of “Moderate Buy” and an average price target of $398.38.

LPL Financial Trading Up 0.6%

Shares of LPL Financial stock opened at $340.25 on Friday. LPL Financial Holdings Inc. has a 1 year low of $259.86 and a 1 year high of $403.58. The firm has a market cap of $27.22 billion, a PE ratio of 23.27, a P/E/G ratio of 0.80 and a beta of 0.61. The stock has a fifty day moving average price of $340.56 and a 200-day moving average price of $354.70. The company has a debt-to-equity ratio of 1.41, a current ratio of 3.22 and a quick ratio of 3.22.

LPL Financial (NASDAQ:LPLA) last announced its earnings results on Thursday, July 31st. The financial services provider reported $4.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.21 by $0.30. LPL Financial had a return on equity of 39.80% and a net margin of 7.91%.The firm had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.77 billion. During the same period last year, the firm posted $3.88 EPS. The business’s revenue was up 30.8% compared to the same quarter last year. Equities research analysts anticipate that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

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.