LPL Financial Holdings Inc. $LPLA Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC lessened its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 4.3% in the 2nd quarter, Holdings Channel reports. The fund owned 37,843 shares of the financial services provider’s stock after selling 1,693 shares during the quarter. Corient Private Wealth LLC’s holdings in LPL Financial were worth $14,190,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of LPLA. Osterweis Capital Management Inc. acquired a new position in shares of LPL Financial during the 2nd quarter worth approximately $26,000. SBI Securities Co. Ltd. increased its position in shares of LPL Financial by 116.2% during the second quarter. SBI Securities Co. Ltd. now owns 80 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 43 shares during the last quarter. Maseco LLP purchased a new stake in LPL Financial in the second quarter valued at approximately $34,000. Bayforest Capital Ltd acquired a new position in LPL Financial during the second quarter worth $34,000. Finally, Graney & King LLC boosted its position in shares of LPL Financial by 49.5% during the second quarter. Graney & King LLC now owns 139 shares of the financial services provider’s stock worth $52,000 after buying an additional 46 shares during the period. Institutional investors and hedge funds own 95.66% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Rothschild & Co Redburn cut shares of LPL Financial from a “buy” rating to a “neutral” rating and set a $390.00 price target on the stock. in a research report on Friday, September 19th. JPMorgan Chase & Co. reduced their price target on LPL Financial from $463.00 to $438.00 and set an “overweight” rating on the stock in a research report on Monday, October 20th. JMP Securities set a $475.00 price objective on LPL Financial in a research report on Friday, October 31st. Morgan Stanley reduced their target price on shares of LPL Financial from $490.00 to $462.00 and set an “overweight” rating on the stock in a report on Wednesday, October 1st. Finally, UBS Group reaffirmed a “neutral” rating and set a $406.00 price objective on shares of LPL Financial in a research report on Thursday, December 11th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, LPL Financial presently has an average rating of “Moderate Buy” and a consensus target price of $427.86.

Insider Transactions at LPL Financial

In other LPL Financial news, Director Aneri Jambusaria sold 80 shares of the business’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $352.48, for a total transaction of $28,198.40. Following the sale, the director directly owned 5,502 shares in the company, valued at approximately $1,939,344.96. The trade was a 1.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Greg Gates sold 750 shares of LPL Financial stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $370.97, for a total transaction of $278,227.50. Following the transaction, the director owned 14,620 shares of the company’s stock, valued at approximately $5,423,581.40. The trade was a 4.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 8,138 shares of company stock valued at $2,983,353 in the last quarter. 1.30% of the stock is currently owned by corporate insiders.

LPL Financial Stock Performance

Shares of LPLA opened at $352.74 on Friday. The stock has a market capitalization of $28.23 billion, a P/E ratio of 32.48, a P/E/G ratio of 0.88 and a beta of 0.60. The company has a debt-to-equity ratio of 1.49, a quick ratio of 2.60 and a current ratio of 2.60. LPL Financial Holdings Inc. has a 1 year low of $262.83 and a 1 year high of $403.58. The company’s fifty day moving average is $356.54 and its two-hundred day moving average is $360.39.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings data on Thursday, October 30th. The financial services provider reported $5.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.49 by $0.71. The firm had revenue of $4.55 billion during the quarter, compared to analysts’ expectations of $4.08 billion. LPL Financial had a return on equity of 36.80% and a net margin of 5.35%.LPL Financial’s revenue was up 46.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.16 earnings per share. On average, sell-side analysts predict that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Thursday, November 13th were issued a $0.30 dividend. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $1.20 dividend on an annualized basis and a yield of 0.3%. LPL Financial’s dividend payout ratio (DPR) is 11.05%.

LPL Financial Company Profile

LPL Financial Holdings Inc, together with its subsidiaries, provides an integrated platform of brokerage and investment advisory services to independent financial advisors and financial advisors at enterprises in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, fixed income, alternative investments, retirement and 529 education savings plans, and insurance.