Renaissance Technologies LLC Grows Position in LPL Financial Holdings Inc. $LPLA

Renaissance Technologies LLC raised its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 5.7% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 120,540 shares of the financial services provider’s stock after purchasing an additional 6,480 shares during the period. Renaissance Technologies LLC owned 0.15% of LPL Financial worth $36,262,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Dodge & Cox raised its stake in shares of LPL Financial by 18.6% in the fourth quarter. Dodge & Cox now owns 3,948,970 shares of the financial services provider’s stock worth $1,410,454,000 after buying an additional 619,715 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in LPL Financial by 14.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,719,447 shares of the financial services provider’s stock worth $1,328,475,000 after acquiring an additional 477,094 shares in the last quarter. Capital World Investors raised its stake in LPL Financial by 37.9% during the 4th quarter. Capital World Investors now owns 3,625,357 shares of the financial services provider’s stock worth $1,294,869,000 after acquiring an additional 996,806 shares during the period. Janus Henderson Group PLC raised its stake in LPL Financial by 9.0% during the 4th quarter. Janus Henderson Group PLC now owns 3,377,553 shares of the financial services provider’s stock worth $1,206,371,000 after acquiring an additional 280,202 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in LPL Financial by 36.3% during the first quarter. Principal Financial Group Inc. now owns 2,636,544 shares of the financial services provider’s stock valued at $793,163,000 after purchasing an additional 702,061 shares in the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Insiders Place Their Bets

In related news, Director Aneri Jambusaria sold 308 shares of the firm’s stock in a transaction on 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. This trade represents a 4.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. UBS Group dropped their price target on shares of LPL Financial from $395.00 to $391.00 and set a “buy” rating for the company in a research report on Wednesday, July 8th. William Blair restated an “outperform” rating on shares of LPL Financial in a research note on Thursday, June 4th. Jefferies Financial Group dropped their target price on shares of LPL Financial from $464.00 to $383.00 and set a “buy” rating for the company in a report on Monday, April 6th. Barclays cut their price target on LPL Financial from $412.00 to $394.00 and set an “overweight” rating for the company in a research note on Thursday, July 9th. Finally, TD Cowen lowered their price objective on LPL Financial from $330.00 to $326.00 and set a “hold” rating on the stock in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $397.92.

LPL Financial Trading Up 3.2%

Shares of LPLA opened at $342.40 on Wednesday. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.56 and a quick ratio of 2.56. LPL Financial Holdings Inc. has a 1 year low of $260.15 and a 1 year high of $403.58. The company has a 50 day simple moving average of $298.30 and a two-hundred day simple moving average of $316.33. The firm has a market cap of $27.39 billion, a P/E ratio of 30.57, a price-to-earnings-growth ratio of 0.65 and a beta of 0.50.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings data on Thursday, April 30th. The financial services provider reported $5.60 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $4.94 billion for the quarter, compared to analysts’ expectations of $4.98 billion. During the same quarter last year, the business posted $5.15 earnings per share. The company’s revenue for the quarter was up 34.6% compared to the same quarter last year. On average, equities analysts expect that LPL Financial Holdings Inc. will post 23.38 earnings per share for the current fiscal year.

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.