LPL Financial (NASDAQ:LPLA) Director Aneri Jambusaria Sells 308 Shares of Stock

LPL Financial Holdings Inc. (NASDAQ:LPLA) Director Aneri Jambusaria sold 308 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $306.00, for a total transaction of $94,248.00. Following the sale, the director owned 6,415 shares in the company, valued at approximately $1,962,990. This trade represents a 4.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

LPL Financial Stock Up 1.2%

LPLA stock opened at $297.62 on Tuesday. The company has a 50 day moving average price of $301.50 and a two-hundred day moving average price of $327.23. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.56 and a current ratio of 2.56. The stock has a market capitalization of $23.80 billion, a P/E ratio of 26.57, a PEG ratio of 0.61 and a beta of 0.50. LPL Financial Holdings Inc. has a one year low of $260.15 and a one year high of $403.58.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings results on Thursday, April 30th. The financial services provider reported $5.60 earnings per share for the quarter, topping analysts’ consensus estimates of $5.49 by $0.11. LPL Financial had a return on equity of 31.26% and a net margin of 4.93%.The company had revenue of $4.94 billion for the quarter, compared to analyst estimates of $4.98 billion. During the same quarter in the prior year, the company posted $5.15 EPS. The business’s revenue for the quarter was up 34.6% compared to the same quarter last year. As a group, sell-side analysts expect that LPL Financial Holdings Inc. will post 22.98 EPS for the current year.

LPL Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 21st were given a dividend of $0.30 per share. The ex-dividend date was Thursday, May 21st. This represents a $1.20 annualized dividend and a yield of 0.4%. LPL Financial’s dividend payout ratio is 10.71%.

Institutional Investors Weigh In On LPL Financial

Several institutional investors and hedge funds have recently modified their holdings of the stock. Capital World Investors lifted its position in LPL Financial by 15,960.1% during the 3rd quarter. Capital World Investors now owns 2,628,551 shares of the financial services provider’s stock worth $874,493,000 after acquiring an additional 2,612,184 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in LPL Financial in the fourth quarter valued at approximately $450,493,000. M&T Bank Corp raised its stake in shares of LPL Financial by 27,955.5% during the fourth quarter. M&T Bank Corp now owns 1,141,019 shares of the financial services provider’s stock valued at $407,538,000 after purchasing an additional 1,136,952 shares during the period. Norges Bank purchased a new stake in shares of LPL Financial during the fourth quarter valued at approximately $371,616,000. Finally, Principal Financial Group Inc. raised its stake in shares of LPL Financial by 36.3% during the first quarter. Principal Financial Group Inc. now owns 2,636,544 shares of the financial services provider’s stock valued at $793,163,000 after purchasing an additional 702,061 shares during the period. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on LPLA shares. Citizens Jmp reissued a “market outperform” rating and issued a $500.00 target price on shares of LPL Financial in a research report on Monday, April 6th. Barclays upped their price target on shares of LPL Financial from $369.00 to $412.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LPL Financial in a research note on Monday, April 27th. William Blair reiterated an “outperform” rating on shares of LPL Financial in a report on Thursday, June 4th. Finally, Morgan Stanley lowered their price objective on shares of LPL Financial from $447.00 to $374.00 and set an “overweight” rating for the company in a research note on Friday, April 10th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $398.86.

LPL Financial Company Profile

LPL Financial (NASDAQ: LPLA) is a U.S.-focused financial services firm that provides brokerage, custodial and advisory platforms to independent financial advisors, registered investment advisers and institutions. Operating primarily as an independent broker-dealer and custodian, the company supports a network of advisors with the operational, compliance and clearing infrastructure needed to manage client accounts and deliver investment advice outside of traditional wirehouse models.

The firm’s product and service offerings include trade execution and clearing, custody services, retirement plan services, model portfolio and advisory platforms, wealth management technology, investment research and product access across equities, fixed income, mutual funds, exchange-traded funds and insurance and annuity solutions.