Amalgamated Bank Has $2.65 Million Stock Holdings in LPL Financial Holdings Inc. $LPLA

Amalgamated Bank lifted its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 20.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,079 shares of the financial services provider’s stock after acquiring an additional 1,204 shares during the period. Amalgamated Bank’s holdings in LPL Financial were worth $2,654,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in LPL Financial by 8.8% during the 1st quarter. JPMorgan Chase & Co. now owns 1,304,780 shares of the financial services provider’s stock worth $426,846,000 after buying an additional 105,665 shares during the period. Nisa Investment Advisors LLC raised its holdings in shares of LPL Financial by 198.3% in the first quarter. Nisa Investment Advisors LLC now owns 6,497 shares of the financial services provider’s stock valued at $2,125,000 after purchasing an additional 4,319 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of LPL Financial by 5.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 354,001 shares of the financial services provider’s stock valued at $115,808,000 after purchasing an additional 18,252 shares during the last quarter. FORA Capital LLC acquired a new stake in shares of LPL Financial in the first quarter valued at approximately $1,728,000. Finally, Private Trust Co. NA raised its holdings in shares of LPL Financial by 234.5% in the first quarter. Private Trust Co. NA now owns 97 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 68 shares during the last quarter. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on LPLA. Morgan Stanley lowered their price objective 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. Weiss Ratings reiterated a “hold (c)” rating on shares of LPL Financial in a report on Friday, October 31st. Citizens Jmp lifted their price objective on shares of LPL Financial from $455.00 to $475.00 and gave the company a “market outperform” rating in a report on Friday, October 31st. JMP Securities set a $475.00 price objective on shares of LPL Financial in a report on Friday. Finally, Keefe, Bruyette & Woods raised their target price on shares of LPL Financial from $425.00 to $435.00 and gave the company an “outperform” rating in a research note on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $429.00.

Insider Transactions at LPL Financial

In other news, Director Greg Gates sold 750 shares of the business’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $314.42, for a total value of $235,815.00. Following the completion of the sale, the director owned 16,870 shares of the company’s stock, valued at approximately $5,304,265.40. The trade was a 4.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Aneri Jambusaria sold 80 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $361.25, for a total transaction of $28,900.00. Following the completion of the sale, the director directly owned 5,582 shares of the company’s stock, valued at approximately $2,016,497.50. The trade was a 1.41% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 2,330 shares of company stock valued at $772,030. 0.70% of the stock is currently owned by company insiders.

LPL Financial Trading Down 1.2%

LPLA stock opened at $374.49 on Wednesday. The company has a debt-to-equity ratio of 1.41, a current ratio of 3.22 and a quick ratio of 3.22. The company has a fifty day moving average price of $340.29 and a two-hundred day moving average price of $357.62. LPL Financial Holdings Inc. has a one year low of $262.83 and a one year high of $403.58. The stock has a market cap of $29.96 billion, a price-to-earnings ratio of 34.48, a price-to-earnings-growth ratio of 0.87 and a beta of 0.63.

LPL Financial (NASDAQ:LPLA) last announced its earnings results on Thursday, October 30th. The financial services provider reported $5.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.49 by $0.71. The company had revenue of $4.55 billion during the quarter, compared to analysts’ expectations of $4.08 billion. LPL Financial had a net margin of 5.35% and a return on equity of 40.11%. LPL Financial’s quarterly revenue was up 46.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.16 earnings per share. Equities analysts anticipate that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Thursday, November 13th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Thursday, November 13th. LPL Financial’s payout ratio is presently 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.