LPL Financial Holdings Inc. $LPLA Shares Sold by Sterling Capital Management LLC

Sterling Capital Management LLC cut its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 27.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 5,733 shares of the financial services provider’s stock after selling 2,170 shares during the quarter. Sterling Capital Management LLC’s holdings in LPL Financial were worth $1,753,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. V Square Quantitative Management LLC increased its stake in shares of LPL Financial by 2.5% in the third quarter. V Square Quantitative Management LLC now owns 1,459 shares of the financial services provider’s stock valued at $446,000 after buying an additional 36 shares during the period. Bank of Nova Scotia raised its position in shares of LPL Financial by 0.7% during the first quarter. Bank of Nova Scotia now owns 5,705 shares of the financial services provider’s stock worth $1,716,000 after acquiring an additional 37 shares during the last quarter. Sterling Group Wealth Management LLC raised its position in shares of LPL Financial by 0.7% during the first quarter. Sterling Group Wealth Management LLC now owns 5,869 shares of the financial services provider’s stock worth $1,766,000 after acquiring an additional 42 shares during the last quarter. Berger Financial Group Inc lifted its stake in shares of LPL Financial by 6.1% in the first quarter. Berger Financial Group Inc now owns 749 shares of the financial services provider’s stock worth $225,000 after acquiring an additional 43 shares during the period. Finally, Crossmark Global Holdings Inc. lifted its stake in shares of LPL Financial by 6.5% in the third quarter. Crossmark Global Holdings Inc. now owns 757 shares of the financial services provider’s stock worth $231,000 after acquiring an additional 46 shares during the period. Institutional investors own 95.66% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. TD Cowen upped their target price on LPL Financial from $377.00 to $380.00 and gave the company a “hold” rating in a report on Monday, October 12th. Wolfe Research restated an “outperform” rating and set a $454.00 price target on shares of LPL Financial in a report on Wednesday, August 12th. Morgan Stanley raised their price target on shares of LPL Financial from $387.00 to $393.00 and gave the stock an “overweight” rating in a report on Friday, October 9th. JPMorgan Chase & Co. boosted their price target on shares of LPL Financial from $428.00 to $445.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 7th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of LPL Financial in a research note on Thursday. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $409.69.

Insiders Place Their Bets

In other LPL Financial news, insider Katharine Reeping sold 440 shares of LPL Financial stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $347.88, for a total value of $153,067.20. Following the completion of the sale, the insider directly owned 1,774 shares in the company, valued at approximately $617,139.12. The trade was a 19.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Matthew Enyedi sold 1,000 shares of LPL Financial stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $352.72, for a total value of $352,720.00. Following the completion of the sale, the director owned 13,121 shares of the company’s stock, valued at approximately $4,628,039.12. The trade was a 7.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 5,867 shares of company stock worth $2,079,664 in the last quarter. 0.60% of the stock is currently owned by company insiders.

LPL Financial Stock Performance

Shares of LPL Financial stock opened at $315.61 on Monday. 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 business has a 50-day moving average price of $337.10 and a two-hundred day moving average price of $321.00. LPL Financial Holdings Inc. has a 1-year low of $260.15 and a 1-year high of $400.16. The company has a market cap of $24.85 billion, a P/E ratio of 25.17, a PEG ratio of 0.54 and a beta of 0.53.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $5.84 earnings per share for the quarter, topping 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 firm had revenue of $5.19 billion during the quarter, compared to analyst estimates of $5.04 billion. During the same period last year, the company posted $4.51 EPS. The business’s quarterly revenue was up 35.2% on a year-over-year basis. As a group, analysts anticipate that LPL Financial Holdings Inc. will post 23.83 EPS for the current year.

LPL Financial Company Profile

LPL Financial Holdings Inc is a financial services company that supports independent financial advisors and institutions across the United States. Through its primary subsidiary, LPL Financial LLC, the company provides brokerage, investment advisory, and custodial services, enabling advisors to serve individual investors, families, retirement plans, and other clients.

LPL’s platform includes access to brokerage and advisory products, securities clearing and custody, trading and operations support, technology, compliance services, investment research, and practice-management resources.