LPL Financial Holdings COO Robert J. Moore Sells 129,993 Shares (LPLA)
LPL Financial Holdings (NASDAQ:LPLA) COO Robert J. Moore sold 129,993 shares of LPL Financial Holdings stock on the open market in a transaction dated Friday, February 14th. The stock was sold at an average price of $52.99, for a total transaction of $6,888,329.07. Following the completion of the transaction, the chief operating officer now directly owns 40,006 shares in the company, valued at approximately $2,119,918. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of LPL Financial Holdings (NASDAQ:LPLA) traded down 1.17% on Friday, hitting $53.31. 858,303 shares of the company’s stock traded hands. LPL Financial Holdings has a 52-week low of $30.01 and a 52-week high of $54.91. The stock’s 50-day moving average is $51.22 and its 200-day moving average is $42.86. The company has a market cap of $5.559 billion and a P/E ratio of 32.89. LPL Financial Holdings also was the recipient of a large growth in short interest in the month of January. As of January 31st, there was short interest totalling 2,613,441 shares, a growth of 84.7% from the January 15th total of 1,415,214 shares. Based on an average daily volume of 1,681,680 shares, the short-interest ratio is currently 1.6 days. Approximately 3.2% of the shares of the stock are sold short.
LPL Financial Holdings (NASDAQ:LPLA) last released its earnings data on Tuesday, February 11th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.05. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the previous year, the company posted $0.50 earnings per share. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. Analysts expect that LPL Financial Holdings will post $2.70 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, March 10th. Stockholders of record on Monday, February 24th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date of this dividend is Thursday, February 20th. This is a boost from LPL Financial Holdings’s previous quarterly dividend of $0.19.
A number of research firms have recently commented on LPLA. Analysts at JPMorgan Chase & Co. cut their price target on shares of LPL Financial Holdings from $60.00 to $58.50 in a research note on Wednesday. Separately, analysts at Zacks upgraded shares of LPL Financial Holdings from an “underperform” rating to an “outperform” rating in a research note on Tuesday, February 4th. They now have a $55.60 price target on the stock. Finally, analysts at Credit Suisse initiated coverage on shares of LPL Financial Holdings in a research note on Wednesday, January 15th. They set a “neutral” rating and a $51.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $48.68.
LPL Financial Holdings Inc, formerly LPL Investment Holdings Inc, is a holding company. The Company provides an integrated platform of brokerage and investment advisory services to independent financial advisors and financial advisors at financial institutions (NASDAQ:LPLA) in the United States of America.
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