Maryland State Retirement & Pension System Has $1.45 Million Stock Holdings in LPL Financial Holdings Inc. $LPLA

Maryland State Retirement & Pension System boosted its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLAFree Report) by 11.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,873 shares of the financial services provider’s stock after buying an additional 394 shares during the quarter. Maryland State Retirement & Pension System’s holdings in LPL Financial were worth $1,452,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in LPL Financial by 2.1% in the first quarter. Vanguard Group Inc. now owns 7,372,857 shares of the financial services provider’s stock worth $2,411,956,000 after purchasing an additional 154,200 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in LPL Financial by 0.8% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,681,617 shares of the financial services provider’s stock valued at $877,264,000 after buying an additional 20,881 shares during the period. Dodge & Cox lifted its stake in shares of LPL Financial by 224.1% in the 1st quarter. Dodge & Cox now owns 1,523,460 shares of the financial services provider’s stock valued at $498,385,000 after purchasing an additional 1,053,351 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of LPL Financial by 35.9% in 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 purchasing an additional 400,352 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of LPL Financial by 8.8% during the first quarter. JPMorgan Chase & Co. now owns 1,304,780 shares of the financial services provider’s stock worth $426,846,000 after purchasing an additional 105,665 shares during the period. Institutional investors own 95.66% of the company’s stock.

LPL Financial Stock Performance

Shares of LPL Financial stock opened at $315.24 on Friday. The stock’s 50-day moving average is $347.31 and its 200-day moving average is $353.26. LPL Financial Holdings Inc. has a one year low of $242.94 and a one year high of $403.58. The firm has a market cap of $25.22 billion, a price-to-earnings ratio of 21.56, a price-to-earnings-growth ratio of 0.74 and a beta of 0.61. 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:LPLAGet Free Report) last announced its 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 for the quarter, compared to analyst estimates of $3.77 billion. LPL Financial had a return on equity of 39.80% and a net margin of 7.91%.LPL Financial’s revenue for the quarter was up 30.8% compared to the same quarter last year. During the same quarter last year, the firm earned $3.88 EPS. Equities analysts predict that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were issued a dividend of $0.30 per share. The ex-dividend date was Friday, August 15th. This represents a $1.20 annualized dividend and a yield of 0.4%. LPL Financial’s dividend payout ratio is presently 8.21%.

Analyst Upgrades and Downgrades

LPLA has been the subject of several analyst reports. Barclays decreased their target price on LPL Financial from $460.00 to $411.00 and set an “overweight” rating for the company in a research report on Wednesday. UBS Group set a $455.00 target price on shares of LPL Financial in a report on Thursday. Wall Street Zen lowered shares of LPL Financial from a “buy” rating to a “hold” rating in a report on Saturday, June 14th. Morgan Stanley lowered their price objective on shares of LPL Financial from $490.00 to $462.00 and set an “overweight” rating for the company in a research report on Wednesday, October 1st. Finally, Rothschild Redb cut LPL Financial from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 19th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, LPL Financial has an average rating of “Moderate Buy” and a consensus target price of $395.85.

Read Our Latest Stock Report on LPLA

Insider Activity

In other LPL Financial news, Director Aneri Jambusaria sold 80 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $361.25, for a total transaction of $28,900.00. Following the sale, 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 filing with the SEC, which is available through this link. Also, Director Greg Gates sold 750 shares of the business’s stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $314.42, for a total transaction of $235,815.00. Following the sale, 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 have sold a total of 3,830 shares of company stock worth $1,333,105 over the last three months. Insiders own 1.30% of the company’s stock.

LPL Financial Profile

(Free Report)

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.

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Institutional Ownership by Quarter for LPL Financial (NASDAQ:LPLA)

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