LPL Financial (NASDAQ:LPLA) Director Sells $110,066.88 in Stock

LPL Financial Holdings Inc. (NASDAQ:LPLA) Director Aneri Jambusaria sold 308 shares of the company’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $357.36, for a total transaction of $110,066.88. Following the completion of the transaction, the director owned 6,107 shares in the company, valued at approximately $2,182,397.52. The trade was a 4.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Aneri Jambusaria also recently made the following trade(s):

• On Wednesday, June 17th, Aneri Jambusaria sold 308 shares of LPL Financial stock. The stock was sold at an average price of $306.00, for a total transaction of $94,248.00.

LPL Financial Stock Down 0.7%

Shares of LPL Financial stock opened at $355.10 on Thursday. The company has a 50-day simple moving average of $337.29 and a two-hundred day simple moving average of $315.05. The stock has a market capitalization of $27.96 billion, a PE ratio of 28.32, a price-to-earnings-growth ratio of 0.60 and a beta of 0.48. LPL Financial Holdings Inc. has a 52-week low of $260.15 and a 52-week high of $400.16. The company has a debt-to-equity ratio of 1.30, a quick ratio of 2.39 and a current ratio of 2.39.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings results on Thursday, July 30th. The financial services provider reported $5.84 earnings per share for the quarter, beating the consensus estimate of $5.39 by $0.45. LPL Financial had a net margin of 5.13% and a return on equity of 32.20%. The company had revenue of $5.19 billion during the quarter, compared to the consensus estimate of $5.04 billion. During the same quarter last year, the firm earned $4.51 earnings per share. The firm’s quarterly revenue was up 35.2% compared to the same quarter last year. On average, analysts anticipate that LPL Financial Holdings Inc. will post 24.02 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were issued a $0.30 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.3%. LPL Financial’s dividend payout ratio (DPR) is presently 9.57%.

Institutional Investors Weigh In On LPL Financial

Large investors have recently made changes to their positions in the company. Amundi grew its position in LPL Financial by 30.7% during the second quarter. Amundi now owns 164,400 shares of the financial services provider’s stock valued at $46,308,000 after buying an additional 38,624 shares during the period. California State Teachers Retirement System increased its holdings in LPL Financial by 29,129.4% during the second quarter. California State Teachers Retirement System now owns 34,308,342 shares of the financial services provider’s stock valued at $9,663,974,000 after buying an additional 34,190,966 shares during the last quarter. Saudi Central Bank raised its position in LPL Financial by 90.0% in the second quarter. Saudi Central Bank now owns 5,613 shares of the financial services provider’s stock worth $1,581,000 after acquiring an additional 2,659 shares during the period. Raiffeisen Bank International AG boosted its stake in shares of LPL Financial by 113.5% during the 2nd quarter. Raiffeisen Bank International AG now owns 5,384 shares of the financial services provider’s stock worth $1,450,000 after acquiring an additional 2,862 shares during the last quarter. Finally, Concurrent Investment Advisors LLC boosted its stake in shares of LPL Financial by 40.0% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 2,622 shares of the financial services provider’s stock worth $739,000 after acquiring an additional 749 shares during the last quarter. 95.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. upped their price target on LPL Financial from $408.00 to $428.00 and gave the company an “overweight” rating in a report on Friday, July 31st. William Blair restated an “outperform” rating on shares of LPL Financial in a research note on Thursday, June 4th. TD Cowen raised their price target on shares of LPL Financial from $372.00 to $377.00 and gave the company a “hold” rating in a report on Tuesday. UBS Group reduced 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 note on Wednesday, July 8th. Finally, Truist Financial initiated coverage on shares of LPL Financial in a report on Tuesday. They set a “hold” rating and a $389.00 price objective for the company. Twelve equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, LPL Financial currently has a consensus rating of “Moderate Buy” and an average target price of $405.79.

About LPL Financial

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.