Truist Financial Corp Boosts Stock Position in LPL Financial Holdings Inc. $LPLA

Truist Financial Corp boosted its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 0.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 209,647 shares of the financial services provider’s stock after buying an additional 1,385 shares during the period. Truist Financial Corp’s holdings in LPL Financial were worth $69,748,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Osterweis Capital Management Inc. purchased a new stake in shares of LPL Financial in the second quarter worth $26,000. SJS Investment Consulting Inc. grew its position in LPL Financial by 912.5% during the 3rd quarter. SJS Investment Consulting Inc. now owns 81 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 73 shares during the last quarter. Eastern Bank raised its holdings in LPL Financial by 72.0% in 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. SBI Securities Co. Ltd. raised its holdings in LPL Financial by 116.2% in the second quarter. SBI Securities Co. Ltd. now owns 80 shares of the financial services provider’s stock worth $30,000 after buying an additional 43 shares during the last quarter. Finally, Bayforest Capital Ltd bought a new position in shares of LPL Financial in the second quarter worth approximately $34,000. 95.66% of the stock is owned by institutional investors.

Insider Buying and Selling at LPL Financial

In other news, Director Aneri Jambusaria sold 80 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $352.48, for a total transaction of $28,198.40. Following the completion of the sale, the director owned 5,502 shares of the company’s stock, valued at $1,939,344.96. This represents a 1.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Richard Steinmeier sold 5,058 shares of the stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $370.99, for a total transaction of $1,876,467.42. Following the completion of the transaction, the chief executive officer owned 9,326 shares in the company, valued at $3,459,852.74. This trade represents a 35.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 7,388 shares of company stock worth $2,747,538 in the last three months. 0.70% of the stock is currently owned by company insiders.

LPL Financial Price Performance

NASDAQ LPLA opened at $366.90 on Thursday. The stock has a market capitalization of $29.37 billion, a price-to-earnings ratio of 33.78, a PEG ratio of 0.79 and a beta of 0.57. LPL Financial Holdings Inc. has a 1-year low of $262.83 and a 1-year high of $403.58. The company has a debt-to-equity ratio of 1.49, a current ratio of 2.60 and a quick ratio of 2.60. The business’s fifty day moving average price is $365.43 and its 200-day moving average price is $358.37.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on LPLA shares. Wolfe Research set a $486.00 price objective on shares of LPL Financial in a report on Wednesday, January 7th. JMP Securities set a $475.00 target price on LPL Financial in a report on Friday, October 31st. Raymond James Financial upgraded LPL Financial from an “underperform” rating to a “market perform” rating in a research note on Thursday, October 9th. Citizens Jmp increased their price objective on LPL Financial from $455.00 to $475.00 and gave the company a “market outperform” rating in a research report on Friday, October 31st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of LPL Financial in a report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, LPL Financial currently has an average rating of “Moderate Buy” and a consensus target price of $429.07.

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.