State of New Jersey Common Pension Fund D Purchases 1,900 Shares of LPL Financial Holdings Inc. $LPLA

State of New Jersey Common Pension Fund D lifted its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 7.7% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 26,703 shares of the financial services provider’s stock after buying an additional 1,900 shares during the period. State of New Jersey Common Pension Fund D’s holdings in LPL Financial were worth $10,013,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in LPLA. Summit Securities Group LLC bought a new stake in shares of LPL Financial in the first quarter valued at about $26,000. Millstone Evans Group LLC raised its holdings in shares of LPL Financial by 123.1% in the first quarter. Millstone Evans Group LLC now owns 87 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 48 shares in the last quarter. Private Trust Co. NA raised its holdings in shares of LPL Financial by 234.5% in the first quarter. Private Trust Co. NA now owns 97 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 68 shares in the last quarter. TCTC Holdings LLC raised its holdings in shares of LPL Financial by 116.7% in the first quarter. TCTC Holdings LLC now owns 104 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 56 shares in the last quarter. Finally, Maseco LLP purchased a new position in LPL Financial in the second quarter valued at about $34,000. 95.66% of the stock is currently owned by institutional investors.

LPL Financial Price Performance

Shares of LPLA stock opened at $340.25 on Friday. LPL Financial Holdings Inc. has a fifty-two week low of $259.86 and a fifty-two week high of $403.58. The firm has a market capitalization of $27.22 billion, a price-to-earnings ratio of 23.27, a PEG ratio of 0.80 and a beta of 0.61. The company has a debt-to-equity ratio of 1.41, a quick ratio of 3.22 and a current ratio of 3.22. The stock’s 50-day simple moving average is $340.56 and its 200-day simple moving average is $354.70.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings results on Thursday, July 31st. The financial services provider reported $4.51 earnings per share for the quarter, topping analysts’ consensus estimates of $4.21 by $0.30. LPL Financial had a return on equity of 39.80% and a net margin of 7.91%.The business had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same quarter in the previous year, the firm earned $3.88 earnings per share. The company’s revenue was up 30.8% on a year-over-year basis. As a group, equities analysts forecast that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

Insider Transactions at LPL Financial

In related news, Director Aneri Jambusaria sold 80 shares of LPL Financial stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $361.25, for a total transaction of $28,900.00. Following the completion of the sale, the director owned 5,582 shares of the company’s stock, valued at $2,016,497.50. The trade was a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Greg Gates sold 750 shares of LPL Financial stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $314.42, for a total value of $235,815.00. Following the sale, the director directly owned 16,870 shares of the company’s stock, valued at $5,304,265.40. This trade represents a 4.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,830 shares of company stock valued at $1,333,105 in the last ninety days. Corporate insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

LPLA has been the topic of several analyst reports. Wells Fargo & Company lifted their target price on LPL Financial from $402.00 to $420.00 and gave the company an “overweight” rating in a research note on Friday, July 11th. TD Cowen lowered LPL Financial from a “strong-buy” rating to a “hold” rating and cut their target price for the company from $406.00 to $403.00 in a research note on Wednesday, July 9th. Barclays cut their target price on LPL Financial from $460.00 to $411.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 8th. Citigroup reiterated an “outperform” rating on shares of LPL Financial in a research note on Thursday, October 9th. Finally, JMP Securities lifted their target price on LPL Financial from $440.00 to $455.00 and gave the company a “market outperform” rating in a research note on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $398.38.

LPL Financial Company Profile

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 enterprises in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, fixed income, alternative investments, retirement and 529 education savings plans, and insurance.