LPL Financial Holdings Inc. $LPLA Stock Acquired by Simplicity Wealth LLC

Simplicity Wealth LLC raised its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 633.4% in the third quarter, HoldingsChannel reports. The firm owned 14,191 shares of the financial services provider’s stock after buying an additional 12,256 shares during the quarter. Simplicity Wealth LLC’s holdings in LPL Financial were worth $4,340,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. National Pension Service boosted its holdings in shares of LPL Financial by 14.8% in the second quarter. National Pension Service now owns 161,309 shares of the financial services provider’s stock worth $45,438,000 after buying an additional 20,758 shares during the last quarter. OP Asset Management Ltd bought a new stake in LPL Financial during the first quarter valued at approximately $2,538,000. SCS Capital Management LLC bought a new stake in LPL Financial during the second quarter valued at approximately $60,142,000. Bank of America Corp DE bought a new stake in LPL Financial during the second quarter valued at approximately $229,756,000. Finally, BlackRock Inc. bought a new stake in LPL Financial during the second quarter valued at approximately $1,333,189,000. 95.66% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Matthew Enyedi sold 1,000 shares of the company’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $352.72, for a total value of $352,720.00. Following the completion of the transaction, the director owned 13,121 shares of the company’s stock, valued at approximately $4,628,039.12. This represents a 7.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Aneri Jambusaria sold 308 shares of the stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $357.36, for a total value of $110,066.88. Following the completion of the sale, the director owned 6,107 shares of the company’s stock, valued at $2,182,397.52. The trade was a 4.80% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 5,867 shares of company stock worth $2,079,664 in the last quarter. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

LPLA has been the subject of a number of research reports. UBS Group reduced their target price on shares of LPL Financial from $391.00 to $390.00 and set a “buy” rating for the company in a report on Wednesday, October 7th. Barclays boosted their price objective on shares of LPL Financial from $401.00 to $409.00 and gave the company an “overweight” rating in a research report on Wednesday, October 7th. Capital One Financial set a $370.00 price objective on shares of LPL Financial in a research report on Tuesday, October 6th. Weiss Ratings restated a “hold (c)” rating on shares of LPL Financial in a research note on Thursday. Finally, TD Cowen raised their target price on LPL Financial from $377.00 to $380.00 and gave the stock a “hold” rating in a report on Monday, October 12th. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $409.69.

LPL Financial Stock Performance

LPLA opened at $315.61 on Monday. The firm 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 Holdings Inc. has a 1-year low of $260.15 and a 1-year high of $400.16. The company has a 50 day simple moving average of $337.10 and a two-hundred day simple moving average of $321.00. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.39 and a quick ratio of 2.39.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data on Thursday, July 30th. The financial services provider reported $5.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.39 by $0.45. The firm had revenue of $5.19 billion during the quarter, compared to analysts’ expectations of $5.04 billion. LPL Financial had a net margin of 5.13% and a return on equity of 32.20%. The company’s revenue for the quarter was up 35.2% compared to the same quarter last year. During the same period in the prior year, the company posted $4.51 earnings per share. Equities analysts forecast that LPL Financial Holdings Inc. will post 23.83 earnings per share for the current fiscal 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.