LPL Financial Holdings Inc. $LPLA Stock: Nisa Investment Advisors LLC Increases Stake

Nisa Investment Advisors LLC boosted its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 675.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,808 shares of the financial services provider’s stock after purchasing an additional 7,672 shares during the quarter. Nisa Investment Advisors LLC’s holdings in LPL Financial were worth $2,693,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of LPLA. Physician Wealth Advisors Inc. boosted its holdings in shares of LPL Financial by 580.0% during the 1st quarter. Physician Wealth Advisors Inc. now owns 136 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 116 shares during the last quarter. Versant Capital Management Inc grew its holdings in shares of LPL Financial by 79.0% in the second quarter. Versant Capital Management Inc now owns 188 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 83 shares in the last quarter. Abound Financial LLC increased its position in LPL Financial by 9,550.0% in the first quarter. Abound Financial LLC now owns 193 shares of the financial services provider’s stock worth $58,000 after purchasing an additional 191 shares during the last quarter. Harbor Investment Advisory LLC purchased a new stake in shares of LPL Financial during the 2nd quarter valued at about $59,000. Finally, Whipplewood Advisors LLC raised its position in LPL Financial by 1,260.0% during the first quarter. Whipplewood Advisors LLC now owns 204 shares of the financial services provider’s stock valued at $61,000 after purchasing an additional 189 shares during the period. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Insider Activity

In related news, Director Matthew Enyedi sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $352.72, for a total transaction of $352,720.00. Following the completion of the transaction, the director owned 13,121 shares in the company, valued at $4,628,039.12. The trade was a 7.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Aneri Jambusaria sold 308 shares of the stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $357.36, for a total transaction of $110,066.88. Following the sale, the director directly owned 6,107 shares of the company’s stock, valued at $2,182,397.52. The trade was a 4.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 5,867 shares of company stock worth $2,079,664. Insiders own 0.60% of the company’s stock.

LPL Financial Stock Performance

Shares of LPL Financial stock opened at $315.61 on Friday. The company has a market capitalization of $24.85 billion, a PE ratio of 25.17, a P/E/G ratio of 0.54 and a beta of 0.53. The company has a 50-day simple moving average of $337.10 and a two-hundred day simple moving average of $320.81. LPL Financial Holdings Inc. has a one year low of $260.15 and a one year high of $400.16. The company has a debt-to-equity ratio of 1.30, a quick ratio of 2.39 and a current ratio of 2.39.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings results on Thursday, July 30th. The financial services provider reported $5.84 earnings per share for the quarter, beating analysts’ consensus estimates of $5.39 by $0.45. LPL Financial had a net margin of 5.13% and a return on equity of 32.20%. The business had revenue of $5.19 billion for the quarter, compared to analysts’ expectations of $5.04 billion. During the same period last year, the business earned $4.51 EPS. The company’s revenue was up 35.2% compared to the same quarter last year. Research analysts expect that LPL Financial Holdings Inc. will post 23.83 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on LPLA shares. UBS Group lowered their target price on shares of LPL Financial from $391.00 to $390.00 and set a “buy” rating for the company in a report on Wednesday, October 7th. Truist Financial set a $354.00 price target on LPL Financial in a research report on Tuesday, October 13th. BMO Capital Markets dropped their price objective on shares of LPL Financial from $390.00 to $370.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LPL Financial in a research report on Thursday. Finally, Morgan Stanley lifted their price target on LPL Financial from $387.00 to $393.00 and gave the company an “overweight” rating in a report on Friday, October 9th. Fourteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $409.69.

LPL Financial Company Profile

LPL Financial Holdings Inc is a financial services company that supports independent financial advisors and institutions across the United States. Through its primary subsidiary, LPL Financial LLC, the company provides brokerage, investment advisory, and custodial services, enabling advisors to serve individual investors, families, retirement plans, and other clients.

LPL’s platform includes access to brokerage and advisory products, securities clearing and custody, trading and operations support, technology, compliance services, investment research, and practice-management resources.