John Andrew Kalbaugh Sells 10,000 Shares of LPL Financial Holdings Inc (LPLA) Stock

LPL Financial Holdings Inc (NASDAQ:LPLA) insider John Andrew Kalbaugh sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $62.61, for a total value of $626,100.00. Following the completion of the sale, the insider now directly owns 38,050 shares of the company’s stock, valued at $2,382,310.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Shares of LPL Financial Holdings Inc (NASDAQ LPLA) traded up $0.16 during mid-day trading on Wednesday, reaching $62.75. The company had a trading volume of 679,537 shares, compared to its average volume of 895,956. The firm has a market capitalization of $5,660.00, a PE ratio of 24.23, a PEG ratio of 1.24 and a beta of 1.74. LPL Financial Holdings Inc has a 52-week low of $37.38 and a 52-week high of $64.71. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.48 and a current ratio of 1.48.

LPL Financial declared that its Board of Directors has initiated a stock repurchase program on Tuesday, December 5th that permits the company to buyback $359.00 million in shares. This buyback authorization permits the financial services provider to purchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

LPLA has been the subject of several recent analyst reports. Zacks Investment Research raised LPL Financial from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a report on Thursday, October 26th. BidaskClub cut LPL Financial from a “strong-buy” rating to a “buy” rating in a report on Tuesday, January 16th. Citigroup raised their price target on LPL Financial from $80.00 to $90.00 and gave the company a “buy” rating in a report on Monday. Wells Fargo & Co reissued a “market perform” rating and issued a $60.00 price target (up from $52.00) on shares of LPL Financial in a report on Thursday, January 4th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $66.00 price target on shares of LPL Financial in a report on Friday, December 22nd. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $66.00.

A number of hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company raised its holdings in LPL Financial by 8.2% during the second quarter. The Manufacturers Life Insurance Company now owns 2,794 shares of the financial services provider’s stock worth $119,000 after purchasing an additional 211 shares during the last quarter. State Board of Administration of Florida Retirement System increased its position in LPL Financial by 1.4% during the third quarter. State Board of Administration of Florida Retirement System now owns 102,460 shares of the financial services provider’s stock worth $5,284,000 after buying an additional 1,373 shares in the last quarter. ARP Americas LLC increased its position in LPL Financial by 18.8% during the third quarter. ARP Americas LLC now owns 8,838 shares of the financial services provider’s stock worth $456,000 after buying an additional 1,400 shares in the last quarter. Sei Investments Co. increased its position in LPL Financial by 2.9% during the third quarter. Sei Investments Co. now owns 72,656 shares of the financial services provider’s stock worth $3,747,000 after buying an additional 2,044 shares in the last quarter. Finally, Cerebellum GP LLC purchased a new position in LPL Financial during the fourth quarter worth $122,000. 90.32% of the stock is owned by hedge funds and other institutional investors.

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About LPL Financial

LPL Financial Holdings Inc is a broker-dealer, a custodian for registered investment advisors and an independent consultant to retirement plans. The Company provides a platform of brokerage and investment advisory services to independent financial advisors, including financial advisors at financial institutions across the country.

Insider Buying and Selling by Quarter for LPL Financial (NASDAQ:LPLA)

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