DekaBank Deutsche Girozentrale Increases Stake in LPL Financial Holdings Inc. $LPLA

DekaBank Deutsche Girozentrale increased its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 1.1% in the 2nd quarter, HoldingsChannel reports. The fund owned 8,718 shares of the financial services provider’s stock after purchasing an additional 91 shares during the period. DekaBank Deutsche Girozentrale’s holdings in LPL Financial were worth $3,173,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Summit Securities Group LLC bought a new position in LPL Financial in the 1st quarter worth about $26,000. Millstone Evans Group LLC boosted its stake in LPL Financial by 123.1% in the 1st quarter. Millstone Evans Group LLC now owns 87 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 48 shares during the period. Private Trust Co. NA boosted its stake in LPL Financial by 234.5% in the 1st quarter. Private Trust Co. NA now owns 97 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 68 shares during the period. TCTC Holdings LLC boosted its stake in LPL Financial by 116.7% in the 1st quarter. TCTC Holdings LLC now owns 104 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 56 shares during the period. Finally, Maseco LLP bought a new position in LPL Financial in the 2nd quarter worth about $34,000. Institutional investors own 95.66% of the company’s stock.

LPL Financial Stock Performance

NASDAQ:LPLA opened at $340.25 on Friday. The business has a 50 day moving average of $340.56 and a 200 day moving average of $354.70. The company has a market capitalization of $27.22 billion, a price-to-earnings ratio of 23.27, a PEG ratio of 0.80 and a beta of 0.61. LPL Financial Holdings Inc. has a 1-year low of $259.86 and a 1-year high of $403.58. 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 released its earnings results on Thursday, July 31st. The financial services provider reported $4.51 earnings per share for the quarter, topping analysts’ consensus estimates of $4.21 by $0.30. The company had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.77 billion. LPL Financial had a return on equity of 39.80% and a net margin of 7.91%.LPL Financial’s quarterly revenue was up 30.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.88 EPS. On average, sell-side analysts predict that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In other LPL Financial news, Director Aneri Jambusaria sold 80 shares of LPL Financial stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $361.25, for a total value of $28,900.00. Following the transaction, the director directly owned 5,582 shares of the company’s stock, valued at $2,016,497.50. The trade was a 1.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Greg Gates sold 750 shares of the business’s stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $314.42, for a total value of $235,815.00. Following the transaction, the director directly owned 16,870 shares in the company, valued at $5,304,265.40. This trade represents a 4.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,830 shares of company stock valued at $1,333,105 in the last 90 days. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

LPLA has been the subject of several analyst reports. Wells Fargo & Company raised their target price on LPL Financial from $402.00 to $420.00 and gave the stock an “overweight” rating in a research note on Friday, July 11th. Keefe, Bruyette & Woods raised their target price on LPL Financial from $425.00 to $435.00 and gave the stock an “outperform” rating in a research note on Monday, August 4th. Rothschild Redb downgraded LPL Financial from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 19th. Weiss Ratings reiterated a “hold (c+)” rating on shares of LPL Financial in a research report on Wednesday, October 8th. Finally, TD Cowen downgraded LPL Financial from a “strong-buy” rating to a “hold” rating and dropped their price target for the company from $406.00 to $403.00 in a research report on Wednesday, July 9th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, LPL Financial presently has a consensus rating of “Moderate Buy” and an average price target of $398.38.

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.