Teacher Retirement System of Texas Decreases Holdings in LPL Financial Holdings Inc. $LPLA

Teacher Retirement System of Texas cut its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 24.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,270 shares of the financial services provider’s stock after selling 7,508 shares during the quarter. Teacher Retirement System of Texas’ holdings in LPL Financial were worth $8,726,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Summit Securities Group LLC purchased a new position in shares of LPL Financial during the first quarter worth approximately $26,000. Millstone Evans Group LLC raised its stake in shares of LPL Financial by 123.1% during the first quarter. Millstone Evans Group LLC now owns 87 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 48 shares in the last quarter. Bayforest Capital Ltd purchased a new position in shares of LPL Financial during the second quarter worth approximately $34,000. Maseco LLP purchased a new position in shares of LPL Financial during the second quarter worth approximately $34,000. Finally, Private Trust Co. NA raised its stake in shares of LPL Financial by 234.5% during the first quarter. Private Trust Co. NA now owns 97 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 68 shares in the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LPLA has been the topic of several research reports. TD Cowen downgraded shares of LPL Financial from a “strong-buy” rating to a “hold” rating and decreased their price target for the stock from $406.00 to $403.00 in a research note on Wednesday, July 9th. Weiss Ratings reissued a “hold (c+)” rating on shares of LPL Financial in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods raised their target price on shares of LPL Financial from $425.00 to $435.00 and gave the stock an “outperform” rating in a report on Monday, August 4th. JMP Securities raised their target price on shares of LPL Financial from $440.00 to $455.00 and gave the stock a “market outperform” rating in a report on Thursday, October 9th. Finally, UBS Group set a $455.00 target price on shares of LPL Financial in a report on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $398.38.

Insider Activity

In other news, Director Greg Gates sold 1,500 shares of LPL Financial stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $338.21, for a total value of $507,315.00. Following the completion of the transaction, the director owned 17,620 shares of the company’s stock, valued at $5,959,260.20. The trade was a 7.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Aneri Jambusaria sold 80 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $361.25, for a total value of $28,900.00. Following the completion of the transaction, the director directly owned 5,582 shares of the company’s stock, valued at approximately $2,016,497.50. This trade represents a 1.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 3,830 shares of company stock valued at $1,333,105. 1.30% of the stock is owned by insiders.

LPL Financial Stock Performance

NASDAQ:LPLA opened at $343.62 on Thursday. LPL Financial Holdings Inc. has a twelve month low of $262.83 and a twelve month high of $403.58. The stock has a market cap of $27.49 billion, a P/E ratio of 23.50, a price-to-earnings-growth ratio of 0.80 and a beta of 0.61. The company has a quick ratio of 3.22, a current ratio of 3.22 and a debt-to-equity ratio of 1.41. The firm’s fifty day simple moving average is $339.93 and its 200 day simple moving average is $355.63.

LPL Financial (NASDAQ:LPLA) last announced its earnings results on Thursday, July 31st. The financial services provider reported $4.51 EPS for the quarter, beating analysts’ consensus estimates of $4.21 by $0.30. LPL Financial had a net margin of 7.91% and a return on equity of 39.80%. The firm had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same quarter in the previous year, the business posted $3.88 EPS. The company’s quarterly revenue was up 30.8% on a year-over-year basis. As a group, research analysts predict that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial 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.