Quantinno Capital Management LP increased its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA – Get Rating) by 12.9% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 4,100 shares of the financial services provider’s stock after buying an additional 469 shares during the quarter. Quantinno Capital Management LP’s holdings in LPL Financial were worth $896,000 at the end of the most recent reporting period.
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Several other large investors also recently bought and sold shares of LPLA. Fifth Third Bancorp increased its holdings in LPL Financial by 162.5% in the 2nd quarter. Fifth Third Bancorp now owns 168 shares of the financial services provider’s stock worth $31,000 after buying an additional 104 shares in the last quarter. Better Money Decisions LLC bought a new position in shares of LPL Financial during the 2nd quarter valued at about $33,000. Northern Oak Wealth Management Inc. purchased a new position in shares of LPL Financial during the 2nd quarter valued at about $34,000. Whittier Trust Co. or Nevada Inc. lifted its position in shares of LPL Financial by 187.9% during the 2nd quarter. Whittier Trust Co. or Nevada Inc. now owns 190 shares of the financial services provider’s stock valued at $35,000 after buying an additional 124 shares in the last quarter. Finally, Assetmark Inc. lifted its position in shares of LPL Financial by 147.0% during the 2nd quarter. Assetmark Inc. now owns 205 shares of the financial services provider’s stock valued at $38,000 after buying an additional 122 shares in the last quarter. 94.89% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
LPLA has been the topic of a number of analyst reports. JMP Securities lifted their price objective on LPL Financial from $287.00 to $290.00 and gave the company a “market outperform” rating in a research report on Tuesday, January 10th. Credit Suisse Group lifted their price objective on LPL Financial from $276.00 to $285.00 in a research report on Thursday, November 17th. William Blair reissued an “outperform” rating on shares of LPL Financial in a report on Tuesday, January 17th. StockNews.com assumed coverage on LPL Financial in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, Citigroup assumed coverage on LPL Financial in a report on Tuesday, October 11th. They issued a “buy” rating and a $290.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $262.63.
LPL Financial Stock Performance
NASDAQ:LPLA opened at $235.55 on Thursday. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.50 and a quick ratio of 1.50. LPL Financial Holdings Inc. has a 1 year low of $140.65 and a 1 year high of $271.56. The stock’s 50 day simple moving average is $223.32 and its two hundred day simple moving average is $226.74. The company has a market cap of $18.75 billion, a price-to-earnings ratio of 30.24, a PEG ratio of 0.27 and a beta of 0.94.
Insiders Place Their Bets
In other LPL Financial news, Director Michelle Oroschakoff sold 5,213 shares of LPL Financial stock in a transaction that occurred on Thursday, November 17th. The stock was sold at an average price of $213.80, for a total value of $1,114,539.40. Following the sale, the director now owns 41,100 shares of the company’s stock, valued at approximately $8,787,180. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Michelle Oroschakoff sold 5,213 shares of the business’s stock in a transaction that occurred on Thursday, November 17th. The stock was sold at an average price of $213.80, for a total transaction of $1,114,539.40. Following the transaction, the director now owns 41,100 shares of the company’s stock, valued at approximately $8,787,180. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Brent Simonich bought 920 shares of the business’s stock in a transaction dated Friday, November 18th. The shares were bought at an average cost of $219.15 per share, for a total transaction of $201,618.00. Following the transaction, the chief accounting officer now owns 6,042 shares in the company, valued at approximately $1,324,104.30. The disclosure for this purchase can be found here. Corporate insiders own 1.60% of the company’s stock.
LPL Financial Company Profile
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LPL Financial Holdings, Inc serves independent financial advisors and financial institutions, providing them with the technology, research, clearing and compliance services, and practice management programs they need to create and grow their practices. It provides objective financial guidance to millions of American families seeking wealth management, retirement planning, financial planning and asset management solutions.
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