LPL Financial Holdings Inc (LPLA) Shares Bought by Trexquant Investment LP

Trexquant Investment LP grew its stake in LPL Financial Holdings Inc (NASDAQ:LPLA) by 184.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,449 shares of the financial services provider’s stock after acquiring an additional 11,971 shares during the period. Trexquant Investment LP’s holdings in LPL Financial were worth $1,190,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Integrated Investment Consultants LLC purchased a new stake in shares of LPL Financial in the 2nd quarter worth approximately $111,000. First Hawaiian Bank purchased a new stake in shares of LPL Financial in the 3rd quarter worth approximately $188,000. GAM Holding AG purchased a new stake in shares of LPL Financial in the 2nd quarter worth approximately $228,000. Advisors Asset Management Inc. lifted its position in shares of LPL Financial by 158.0% in the 2nd quarter. Advisors Asset Management Inc. now owns 10,983 shares of the financial services provider’s stock worth $240,000 after purchasing an additional 6,726 shares during the period. Finally, Greenleaf Trust purchased a new stake in shares of LPL Financial in the 3rd quarter worth approximately $254,000. Institutional investors and hedge funds own 96.31% of the company’s stock.

Several equities research analysts have recently weighed in on LPLA shares. BidaskClub raised shares of LPL Financial from a “strong sell” rating to a “sell” rating in a research report on Tuesday, October 30th. Morgan Stanley lowered their price target on shares of LPL Financial from $71.00 to $66.00 and set a “hold” rating for the company in a research report on Wednesday, November 14th. Zacks Investment Research cut shares of LPL Financial from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 5th. Citigroup upped their price target on shares of LPL Financial from $80.00 to $84.00 and gave the stock a “buy” rating in a research report on Tuesday, October 30th. Finally, Credit Suisse Group lowered their price target on shares of LPL Financial from $91.00 to $88.00 and set an “outperform” rating for the company in a research report on Friday, October 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $77.82.

In related news, insider Michelle Oroschakoff sold 6,000 shares of the stock in a transaction that occurred on Tuesday, November 27th. The shares were sold at an average price of $63.00, for a total transaction of $378,000.00. Following the completion of the sale, the insider now owns 19,811 shares of the company’s stock, valued at $1,248,093. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director George Burton White sold 23,893 shares of the stock in a transaction that occurred on Thursday, November 8th. The shares were sold at an average price of $66.00, for a total transaction of $1,576,938.00. Following the sale, the director now directly owns 50,582 shares of the company’s stock, valued at approximately $3,338,412. The disclosure for this sale can be found here. Insiders have sold 30,143 shares of company stock valued at $1,971,038 in the last three months. 2.60% of the stock is currently owned by corporate insiders.

NASDAQ:LPLA opened at $63.49 on Friday. LPL Financial Holdings Inc has a 52 week low of $50.35 and a 52 week high of $73.28. The company has a debt-to-equity ratio of 2.43, a current ratio of 1.40 and a quick ratio of 1.40. The company has a market cap of $5.59 billion, a P/E ratio of 21.16, a PEG ratio of 0.83 and a beta of 1.59.

LPL Financial (NASDAQ:LPLA) last posted its earnings results on Thursday, October 25th. The financial services provider reported $1.32 EPS for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.08. LPL Financial had a net margin of 7.68% and a return on equity of 41.69%. The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.30 billion. As a group, equities analysts anticipate that LPL Financial Holdings Inc will post 5.19 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, November 26th. Investors of record on Thursday, November 8th were given a dividend of $0.25 per share. The ex-dividend date was Wednesday, November 7th. This represents a $1.00 dividend on an annualized basis and a yield of 1.58%. LPL Financial’s payout ratio is 33.33%.

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About LPL Financial

LPL Financial Holdings Inc, together with its subsidiaries, provides an integrated platform of brokerage and investment advisory services to independent financial advisors and financial advisors at financial institutions in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, retirement and 529 education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and business development companies.

Further Reading: Cost of Capital

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

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