New York State Common Retirement Fund Boosts Stake in LPL Financial Holdings Inc. (NASDAQ:LPLA)

New York State Common Retirement Fund boosted its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 19.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 222,043 shares of the financial services provider’s stock after purchasing an additional 36,142 shares during the period. New York State Common Retirement Fund owned approximately 0.25% of LPL Financial Holdings worth $9,428,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Prudential Financial Inc. increased its stake in shares of LPL Financial Holdings by 15.1% in the second quarter. Prudential Financial Inc. now owns 441,404 shares of the financial services provider’s stock worth $18,742,000 after acquiring an additional 57,830 shares during the last quarter. Legal & General Group Plc increased its stake in shares of LPL Financial Holdings by 37.8% in the first quarter. Legal & General Group Plc now owns 72,661 shares of the financial services provider’s stock worth $2,893,000 after acquiring an additional 19,923 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of LPL Financial Holdings by 166.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,393 shares of the financial services provider’s stock worth $1,036,000 after acquiring an additional 15,229 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in LPL Financial Holdings in the second quarter worth $4,034,000. Finally, Bogle Investment Management L P DE bought a new stake in LPL Financial Holdings in the first quarter worth $1,296,000. 89.73% of the stock is currently owned by institutional investors.

Several equities research analysts recently weighed in on LPLA shares. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $44.00 price target on shares of LPL Financial Holdings in a research report on Tuesday, July 4th. Morgan Stanley reissued an “underweight” rating and issued a $38.00 price target (up previously from $35.00) on shares of LPL Financial Holdings in a research report on Monday, July 10th. BidaskClub lowered shares of LPL Financial Holdings from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Zacks Investment Research raised shares of LPL Financial Holdings from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a report on Wednesday. Finally, Nomura raised their price objective on shares of LPL Financial Holdings from $53.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, August 17th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $49.70.

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LPL Financial Holdings Inc. (LPLA) traded up 0.79% during mid-day trading on Wednesday, reaching $52.54. 76,037 shares of the company’s stock were exchanged. The stock has a market cap of $4.72 billion, a price-to-earnings ratio of 22.82 and a beta of 1.87. The company has a 50-day moving average of $49.24 and a 200-day moving average of $43.94. LPL Financial Holdings Inc. has a 52-week low of $30.18 and a 52-week high of $53.58.

LPL Financial Holdings (NASDAQ:LPLA) last announced its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.08. LPL Financial Holdings had a net margin of 5.10% and a return on equity of 26.45%. The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the previous year, the business posted $0.53 EPS. LPL Financial Holdings’s revenue was up 4.5% compared to the same quarter last year. Equities research analysts anticipate that LPL Financial Holdings Inc. will post $2.37 earnings per share for the current year.

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.

Institutional Ownership by Quarter for LPL Financial Holdings (NASDAQ:LPLA)

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