LPL Financial Holdings Inc. $LPLA Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas cut its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 7.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,622 shares of the financial services provider’s stock after selling 1,648 shares during the quarter. Teacher Retirement System of Texas’ holdings in LPL Financial were worth $7,193,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of LPLA. Osterweis Capital Management Inc. purchased a new position in LPL Financial in the 2nd quarter worth approximately $26,000. SBI Securities Co. Ltd. increased its holdings in shares of LPL Financial by 116.2% in the second quarter. SBI Securities Co. Ltd. now owns 80 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 43 shares during the last quarter. SJS Investment Consulting Inc. boosted its stake in LPL Financial by 912.5% during the third quarter. SJS Investment Consulting Inc. now owns 81 shares of the financial services provider’s stock worth $27,000 after buying an additional 73 shares during the last quarter. Eastern Bank boosted its stake in LPL Financial by 72.0% during the third quarter. Eastern Bank now owns 86 shares of the financial services provider’s stock worth $29,000 after buying an additional 36 shares during the last quarter. Finally, Bayforest Capital Ltd purchased a new stake in LPL Financial in the 2nd quarter valued at $34,000. Institutional investors and hedge funds own 95.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. JPMorgan Chase & Co. reduced their price target on LPL Financial from $440.00 to $433.00 and set an “overweight” rating on the stock in a report on Tuesday, January 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LPL Financial in a research note on Friday, October 31st. Raymond James Financial upgraded shares of LPL Financial from an “underperform” rating to a “market perform” rating in a report on Thursday, October 9th. Citigroup reissued an “outperform” rating on shares of LPL Financial in a research note on Friday, October 31st. Finally, Morgan Stanley reduced their price target on shares of LPL Financial from $462.00 to $447.00 and set an “overweight” rating on the stock in a research report on Monday, December 22nd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, LPL Financial currently has a consensus rating of “Moderate Buy” and an average target price of $429.07.

LPL Financial Stock Down 0.9%

Shares of NASDAQ LPLA opened at $358.99 on Tuesday. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 1.49. The business’s 50 day moving average is $365.03 and its two-hundred day moving average is $358.36. LPL Financial Holdings Inc. has a 52-week low of $262.83 and a 52-week high of $403.58. The firm has a market cap of $28.73 billion, a price-to-earnings ratio of 33.06, a PEG ratio of 0.78 and a beta of 0.57.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data on Thursday, October 30th. The financial services provider reported $5.20 earnings per share for the quarter, beating analysts’ consensus estimates of $4.49 by $0.71. The business had revenue of $4.55 billion during the quarter, compared to analysts’ expectations of $4.08 billion. LPL Financial had a return on equity of 36.80% and a net margin of 5.35%.The company’s revenue was up 46.4% on a year-over-year basis. During the same period in the previous year, the firm posted $4.16 earnings per share. Research analysts predict that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

Insider Buying and Selling at LPL Financial

In related news, Director Aneri Jambusaria sold 80 shares of LPL Financial stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $352.48, for a total value of $28,198.40. Following the completion of the transaction, the director owned 5,502 shares in the company, valued at approximately $1,939,344.96. The trade was a 1.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Greg Gates sold 1,500 shares of the stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $376.43, for a total transaction of $564,645.00. Following the sale, the director owned 15,370 shares in the company, valued at approximately $5,785,729.10. This trade represents a 8.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 7,388 shares of company stock valued at $2,747,538 in the last three months. 0.70% of the stock is owned by corporate insiders.

About LPL Financial

LPL Financial (NASDAQ: LPLA) is a U.S.-focused financial services firm that provides brokerage, custodial and advisory platforms to independent financial advisors, registered investment advisers and institutions. Operating primarily as an independent broker-dealer and custodian, the company supports a network of advisors with the operational, compliance and clearing infrastructure needed to manage client accounts and deliver investment advice outside of traditional wirehouse models.

The firm’s product and service offerings include trade execution and clearing, custody services, retirement plan services, model portfolio and advisory platforms, wealth management technology, investment research and product access across equities, fixed income, mutual funds, exchange-traded funds and insurance and annuity solutions.