Truist Financial Corp Buys 1,385 Shares of LPL Financial Holdings Inc. $LPLA

Truist Financial Corp increased its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 0.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 209,647 shares of the financial services provider’s stock after acquiring an additional 1,385 shares during the quarter. Truist Financial Corp owned approximately 0.26% of LPL Financial worth $69,748,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of LPLA. Dodge & Cox grew its holdings in shares of LPL Financial by 77.3% in the second quarter. Dodge & Cox now owns 2,701,709 shares of the financial services provider’s stock worth $1,013,060,000 after purchasing an additional 1,178,249 shares during the last quarter. Norges Bank bought a new stake in LPL Financial during the 2nd quarter valued at $402,312,000. Massachusetts Financial Services Co. MA boosted its position in LPL Financial by 61.1% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,442,182 shares of the financial services provider’s stock valued at $915,745,000 after buying an additional 926,122 shares during the period. Vanguard Group Inc. grew its holdings in LPL Financial by 8.3% in the 2nd quarter. Vanguard Group Inc. now owns 7,986,766 shares of the financial services provider’s stock worth $2,994,798,000 after acquiring an additional 613,909 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in LPL Financial by 444.8% in the 2nd quarter. Invesco Ltd. now owns 551,579 shares of the financial services provider’s stock worth $206,825,000 after acquiring an additional 450,326 shares during the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at LPL Financial

In other news, Director Greg Gates sold 1,500 shares of the business’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $376.43, for a total transaction of $564,645.00. Following the sale, the director owned 15,370 shares in the company, valued at approximately $5,785,729.10. The trade was a 8.89% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Aneri Jambusaria sold 80 shares of the company’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $352.48, for a total transaction of $28,198.40. Following the completion of the sale, the director directly owned 5,502 shares in the company, valued at $1,939,344.96. This represents a 1.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 7,388 shares of company stock valued at $2,747,538. 0.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Citigroup reiterated an “outperform” rating on shares of LPL Financial in a report on Friday, October 31st. TD Cowen lowered their price target on LPL Financial from $410.00 to $399.00 and set a “hold” rating for the company in a research report on Wednesday, January 14th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $421.00 price target on shares of LPL Financial in a research report on Friday, October 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of LPL Financial in a research report on Friday, October 31st. Finally, Morgan Stanley reduced their target price on LPL Financial from $462.00 to $447.00 and set an “overweight” rating on the stock in a research note on Monday, December 22nd. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $429.07.

LPL Financial Stock Performance

LPL Financial stock opened at $366.90 on Thursday. LPL Financial Holdings Inc. has a fifty-two week low of $262.83 and a fifty-two week high of $403.58. The stock’s 50 day simple moving average is $365.43 and its two-hundred day simple moving average is $358.37. The company has a debt-to-equity ratio of 1.49, a quick ratio of 2.60 and a current ratio of 2.60. The stock has a market cap of $29.37 billion, a price-to-earnings ratio of 33.78, a PEG ratio of 0.79 and a beta of 0.57.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings results on Thursday, October 30th. The financial services provider reported $5.20 earnings per share for the quarter, beating the consensus estimate of $4.49 by $0.71. The company had revenue of $4.55 billion for the quarter, compared to analyst estimates of $4.08 billion. LPL Financial had a return on equity of 36.80% and a net margin of 5.35%.The firm’s revenue was up 46.4% on a year-over-year basis. During the same period in the previous year, the company posted $4.16 earnings per share. As a group, analysts expect that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial 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.