Shell Asset Management Co. purchased a new position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 33,201 shares of the company’s stock, valued at approximately $748,000.
Several other large investors also recently bought and sold shares of the stock. Seven Eight Capital LLC increased its stake in LPL Financial Holdings by 295,600.0% in the first quarter. Seven Eight Capital LLC now owns 5,914 shares of the company’s stock worth $147,000 after buying an additional 5,912 shares during the last quarter. BlackRock Inc. increased its stake in LPL Financial Holdings by 203.7% in the first quarter. BlackRock Inc. now owns 10,733 shares of the company’s stock worth $266,000 after buying an additional 7,199 shares during the last quarter. Magnetar Financial LLC increased its stake in LPL Financial Holdings by 26.9% in the first quarter. Magnetar Financial LLC now owns 11,799 shares of the company’s stock worth $293,000 after buying an additional 2,499 shares during the last quarter. CIBC World Markets Inc. bought a new stake in LPL Financial Holdings during the second quarter worth $441,000. Finally, Babson Capital Management LLC bought a new stake in LPL Financial Holdings during the first quarter worth $573,000.
Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) traded down 0.10% during mid-day trading on Friday, hitting $30.74. 979,917 shares of the stock traded hands. The stock has a market cap of $2.74 billion, a price-to-earnings ratio of 17.13 and a beta of 1.70. The firm’s 50-day moving average is $29.54 and its 200-day moving average is $26.16. LPL Financial Holdings Inc. has a 52 week low of $15.38 and a 52 week high of $48.00.
LPL Financial Holdings (NASDAQ:LPLA) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.53 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.09. LPL Financial Holdings had a return on equity of 22.96% and a net margin of 4.05%. The company earned $1.02 billion during the quarter, compared to analyst estimates of $1,000 million. During the same quarter in the previous year, the firm earned $0.65 earnings per share. LPL Financial Holdings’s revenue was down 6.6% on a year-over-year basis. On average, analysts forecast that LPL Financial Holdings Inc. will post $1.84 earnings per share for the current year.
A number of research analysts recently issued reports on the stock. Morgan Stanley assumed coverage on shares of LPL Financial Holdings in a report on Monday, September 26th. They issued an “underweight” rating and a $27.00 price objective for the company. TheStreet upgraded shares of LPL Financial Holdings from a “hold” rating to a “buy” rating in a report on Tuesday, September 6th. Zacks Investment Research upgraded shares of LPL Financial Holdings from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a report on Tuesday, September 13th. Credit Suisse Group AG lowered shares of LPL Financial Holdings from an “outperform” rating to a “neutral” rating and set a $28.00 price objective for the company. in a report on Monday, August 22nd. They noted that the move was a valuation call. Finally, Nomura raised their price objective on shares of LPL Financial Holdings from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Friday, July 29th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $28.41.
LPL Financial Holdings Company Profile
LPL Financial Holdings Inc is a broker-dealer, a custodian for registered investment advisors (RIAs) and an independent consultant to retirement plans. The Company provides a platform of brokerage and investment advisory services to independent financial advisors (its advisors), including financial advisors at approximately 700 financial institutions across the country.
Want to see what other hedge funds are holding LPLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for LPL Financial Holdings Inc. (NASDAQ:LPLA).
Receive News & Ratings for LPL Financial Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LPL Financial Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.