Allstate Corp Has $1.17 Million Stake in LPL Financial Holdings Inc. $LPLA

Allstate Corp grew its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 61.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,561 shares of the financial services provider’s stock after acquiring an additional 1,357 shares during the period. Allstate Corp’s holdings in LPL Financial were worth $1,165,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of LPLA. Principal Financial Group Inc. grew its holdings in LPL Financial by 1,453.3% during the 1st quarter. Principal Financial Group Inc. now owns 1,038,683 shares of the financial services provider’s stock worth $339,795,000 after acquiring an additional 971,814 shares during the period. Jennison Associates LLC grew its holdings in LPL Financial by 786.2% during the 1st quarter. Jennison Associates LLC now owns 959,371 shares of the financial services provider’s stock worth $313,849,000 after acquiring an additional 851,115 shares during the period. Egerton Capital UK LLP grew its holdings in LPL Financial by 238.1% during the 1st quarter. Egerton Capital UK LLP now owns 871,265 shares of the financial services provider’s stock worth $285,026,000 after acquiring an additional 613,555 shares during the period. Janus Henderson Group PLC grew its holdings in LPL Financial by 20.6% during the 4th quarter. Janus Henderson Group PLC now owns 3,050,529 shares of the financial services provider’s stock worth $996,032,000 after acquiring an additional 522,032 shares during the period. Finally, Wellington Management Group LLP grew its holdings in LPL Financial by 337.1% during the 1st quarter. Wellington Management Group LLP now owns 658,593 shares of the financial services provider’s stock worth $215,452,000 after acquiring an additional 507,923 shares during the period. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on LPLA. Citigroup downgraded LPL Financial from a “neutral” rating to a “sell” rating and set a $80.00 price target for the company. in a report on Wednesday, July 9th. Redburn Atlantic upgraded LPL Financial from a “neutral” rating to a “buy” rating and raised their target price for the company from $420.00 to $460.00 in a research note on Monday, June 9th. Morgan Stanley restated an “overweight” rating and issued a $490.00 target price (up from $450.00) on shares of LPL Financial in a research note on Tuesday, July 15th. JMP Securities raised their target price on LPL Financial from $420.00 to $440.00 and gave the company a “market outperform” rating in a research note on Friday, May 9th. Finally, Wells Fargo & Company raised their target price on LPL Financial from $402.00 to $420.00 and gave the company an “overweight” rating in a research note on Friday, July 11th. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, LPL Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of $383.58.

LPL Financial Price Performance

LPLA stock opened at $362.44 on Friday. The company has a market capitalization of $29.00 billion, a P/E ratio of 24.79, a price-to-earnings-growth ratio of 0.85 and a beta of 0.66. The company has a debt-to-equity ratio of 1.41, a quick ratio of 3.22 and a current ratio of 3.22. LPL Financial Holdings Inc. has a 52-week low of $204.41 and a 52-week high of $403.58. The business has a 50-day simple moving average of $373.43 and a two-hundred day simple moving average of $355.68.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings results on Thursday, July 31st. The financial services provider reported $4.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.21 by $0.30. The business 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%.The company’s quarterly revenue was up 30.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.88 EPS. Research analysts expect that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.30 per share. The ex-dividend date is Friday, August 15th. This represents a $1.20 dividend on an annualized basis and a yield of 0.3%. LPL Financial’s payout ratio is 8.21%.

Insider Transactions at LPL Financial

In other LPL Financial news, Director Greg Gates sold 1,500 shares of LPL Financial stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $374.05, for a total transaction of $561,075.00. Following the completion of the transaction, the director owned 19,120 shares in the company, valued at approximately $7,151,836. The trade was a 7.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.30% of the company’s stock.

LPL Financial Company 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.