LPL Financial Holdings Inc. $LPLA Shares Sold by Family Wealth Partners LLC

Family Wealth Partners LLC lowered its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 3.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 69,073 shares of the financial services provider’s stock after selling 2,458 shares during the period. LPL Financial comprises 6.0% of Family Wealth Partners LLC’s holdings, making the stock its 2nd largest holding. Family Wealth Partners LLC owned about 0.09% of LPL Financial worth $19,456,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Osterweis Capital Management Inc. acquired a new stake in LPL Financial in the second quarter valued at $26,000. Clearstead Advisors LLC raised its position in LPL Financial by 3,650.0% during the 4th quarter. Clearstead Advisors LLC now owns 75 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 73 shares during the last quarter. Core Wealth Advisors LLC acquired a new position in LPL Financial during the 4th quarter worth about $36,000. Physician Wealth Advisors Inc. lifted its holdings in LPL Financial by 580.0% during the 1st quarter. Physician Wealth Advisors Inc. now owns 136 shares of the financial services provider’s stock worth $41,000 after buying an additional 116 shares during the period. Finally, Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in shares of LPL Financial in the 4th quarter valued at about $50,000. Institutional investors and hedge funds own 95.66% of the company’s stock.

Insider Buying and Selling

In other news, Director Aneri Jambusaria sold 308 shares of LPL Financial stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $306.00, for a total value of $94,248.00. Following the completion of the sale, the director owned 6,415 shares in the company, valued at $1,962,990. The trade was a 4.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew Enyedi sold 1,000 shares of the business’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $352.72, for a total transaction of $352,720.00. Following the transaction, the director owned 13,121 shares in the company, valued at $4,628,039.12. The trade was a 7.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is currently owned by corporate insiders.

LPL Financial Stock Performance

LPLA stock opened at $371.19 on Wednesday. The stock has a 50-day moving average price of $314.01 and a 200-day moving average price of $315.44. LPL Financial Holdings Inc. has a 1-year low of $260.15 and a 1-year high of $400.16. The company has a current ratio of 2.39, a quick ratio of 2.39 and a debt-to-equity ratio of 1.30. The firm has a market cap of $29.23 billion, a PE ratio of 29.60, a price-to-earnings-growth ratio of 0.63 and a beta of 0.48.

LPL Financial (NASDAQ:LPLA) last announced its earnings results on Thursday, July 30th. The financial services provider reported $5.84 EPS for the quarter, beating the consensus estimate of $5.39 by $0.45. LPL Financial had a return on equity of 32.20% and a net margin of 5.13%.The company had revenue of $5.19 billion for the quarter, compared to analyst estimates of $5.04 billion. During the same quarter in the prior year, the company earned $4.51 EPS. The firm’s revenue for the quarter was up 35.2% compared to the same quarter last year. As a group, equities research analysts expect that LPL Financial Holdings Inc. will post 24.09 earnings per share for the current year.

LPL Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.20 annualized dividend and a yield of 0.3%. LPL Financial’s payout ratio is 9.57%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Morgan Stanley increased their price target on LPL Financial from $374.00 to $387.00 and gave the company an “overweight” rating in a research note on Friday, July 10th. TD Cowen lifted their price objective on LPL Financial from $330.00 to $372.00 and gave the stock a “hold” rating in a research note on Friday, July 31st. BMO Capital Markets upped their target price on LPL Financial from $300.00 to $390.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of LPL Financial in a report on Friday, July 24th. Finally, William Blair reissued an “outperform” rating on shares of LPL Financial in a research report on Thursday, June 4th. Eleven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $408.54.

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.