Dimensional Fund Advisors LP Buys 80,173 Shares of LPL Financial Holdings Inc. (LPLA)
Dimensional Fund Advisors LP boosted its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 6.0% during the first quarter, Holdings Channel reports. The firm owned 1,414,114 shares of the financial services provider’s stock after buying an additional 80,173 shares during the period. Dimensional Fund Advisors LP’s holdings in LPL Financial Holdings were worth $56,324,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of LPL Financial Holdings during the fourth quarter valued at approximately $42,914,000. AQR Capital Management LLC purchased a new stake in shares of LPL Financial Holdings during the fourth quarter valued at approximately $1,201,000. Elkfork Partners LLC purchased a new stake in shares of LPL Financial Holdings during the first quarter valued at approximately $190,000. Waratah Capital Advisors Ltd. purchased a new stake in shares of LPL Financial Holdings during the first quarter valued at approximately $379,000. Finally, State Street Corp raised its stake in shares of LPL Financial Holdings by 1.7% in the fourth quarter. State Street Corp now owns 1,184,737 shares of the financial services provider’s stock valued at $41,715,000 after buying an additional 20,324 shares during the period. 90.62% of the stock is currently owned by institutional investors and hedge funds.
LPL Financial Holdings Inc. (NASDAQ:LPLA) opened at 42.64 on Wednesday. LPL Financial Holdings Inc. has a one year low of $22.57 and a one year high of $43.79. The firm has a 50-day moving average price of $40.77 and a 200 day moving average price of $39.50. The firm has a market capitalization of $3.86 billion, a P/E ratio of 20.40 and a beta of 1.82.
LPL Financial Holdings (NASDAQ:LPLA) last posted its quarterly earnings data on Thursday, April 27th. The financial services provider reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.30. LPL Financial Holdings had a net margin of 4.65% and a return on equity of 25.04%. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the business posted $0.56 EPS. The company’s revenue was up 3.0% on a year-over-year basis. Equities research analysts anticipate that LPL Financial Holdings Inc. will post $2.46 earnings per share for the current year.
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A number of equities research analysts recently issued reports on LPLA shares. Goldman Sachs Group, Inc. (The) raised LPL Financial Holdings from a “neutral” rating to a “conviction-buy” rating and upped their target price for the company from $44.00 to $47.00 in a research note on Monday, March 20th. SunTrust Banks, Inc. reaffirmed a “hold” rating and issued a $42.00 target price on shares of LPL Financial Holdings in a research note on Friday, March 17th. Keefe, Bruyette & Woods set a $44.00 target price on LPL Financial Holdings and gave the company a “hold” rating in a research note on Thursday, April 6th. Nomura raised LPL Financial Holdings from a “neutral” rating to a “buy” rating and upped their target price for the company from $46.00 to $51.00 in a research note on Friday, April 28th. Finally, Citigroup Inc. upped their target price on LPL Financial Holdings from $47.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, May 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. LPL Financial Holdings presently has a consensus rating of “Buy” and a consensus price target of $43.00.
In related news, insider William P. Jr. Morrissey sold 32,150 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $39.34, for a total value of $1,264,781.00. Following the completion of the transaction, the insider now owns 49,691 shares of the company’s stock, valued at approximately $1,954,843.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 5.70% of the company’s stock.
LPL Financial Holdings Company Profile
LPL Financial Holdings Inc is a broker-dealer, a custodian for registered investment advisors and an independent consultant to retirement plans. The Company provides a platform of brokerage and investment advisory services to independent financial advisors, including financial advisors at financial institutions across the country.
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