Renaissance Technologies LLC Purchases 6,480 Shares of LPL Financial Holdings Inc. $LPLA

Renaissance Technologies LLC raised its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 5.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 120,540 shares of the financial services provider’s stock after buying an additional 6,480 shares during the quarter. Renaissance Technologies LLC’s holdings in LPL Financial were worth $36,262,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in LPLA. NewEdge Advisors LLC raised its holdings in shares of LPL Financial by 42.7% during the 1st quarter. NewEdge Advisors LLC now owns 3,525 shares of the financial services provider’s stock worth $1,153,000 after acquiring an additional 1,055 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of LPL Financial by 0.5% in the first quarter. Goldman Sachs Group Inc. now owns 209,126 shares of the financial services provider’s stock valued at $68,414,000 after purchasing an additional 1,089 shares in the last quarter. Woodline Partners LP purchased a new position in shares of LPL Financial in the first quarter valued at $1,636,000. Focus Partners Wealth grew its holdings in shares of LPL Financial by 12.2% in the first quarter. Focus Partners Wealth now owns 4,360 shares of the financial services provider’s stock valued at $1,426,000 after purchasing an additional 473 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new stake in LPL Financial in the first quarter worth $121,000. Hedge funds and other institutional investors own 95.66% of the company’s stock.

LPL Financial Stock Performance

NASDAQ:LPLA opened at $342.40 on Wednesday. The firm has a market capitalization of $27.39 billion, a PE ratio of 30.57, a PEG ratio of 0.65 and a beta of 0.50. The stock’s fifty day moving average is $298.30 and its 200 day moving average is $316.33. LPL Financial Holdings Inc. has a fifty-two week low of $260.15 and a fifty-two week high of $403.58. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.56 and a current ratio of 2.56.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Thursday, April 30th. The financial services provider reported $5.60 EPS for the quarter, topping the consensus estimate of $5.49 by $0.11. LPL Financial had a net margin of 4.93% and a return on equity of 31.26%. The company had revenue of $4.94 billion during the quarter, compared to analyst estimates of $4.98 billion. During the same period in the previous year, the firm earned $5.15 earnings per share. LPL Financial’s quarterly revenue was up 34.6% compared to the same quarter last year. On average, sell-side analysts anticipate that LPL Financial Holdings Inc. will post 23.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Morgan Stanley increased their price objective on shares of LPL Financial from $374.00 to $387.00 and gave the company an “overweight” rating in a research report on Friday, July 10th. Jefferies Financial Group reduced their target price on shares of LPL Financial from $464.00 to $383.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Barclays decreased their target price on shares of LPL Financial from $412.00 to $394.00 and set an “overweight” rating on the stock in a research report on Thursday, July 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LPL Financial in a report on Friday. Finally, William Blair reiterated an “outperform” rating on shares of LPL Financial in a research report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $397.92.

Insider Activity

In related news, Director Aneri Jambusaria sold 308 shares of LPL Financial stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $306.00, for a total transaction of $94,248.00. Following the completion of the transaction, the director directly owned 6,415 shares of the company’s stock, valued at approximately $1,962,990. The trade was a 4.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.60% of the company’s stock.

LPL Financial Company Profile

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.