Sanctuary Advisors LLC Sells 3,768 Shares of LPL Financial Holdings Inc. $LPLA

Sanctuary Advisors LLC trimmed its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 24.7% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 11,486 shares of the financial services provider’s stock after selling 3,768 shares during the quarter. Sanctuary Advisors LLC’s holdings in LPL Financial were worth $3,455,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. NewEdge Advisors LLC boosted its stake in shares of LPL Financial by 42.7% in the 1st quarter. NewEdge Advisors LLC now owns 3,525 shares of the financial services provider’s stock valued at $1,153,000 after purchasing an additional 1,055 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of LPL Financial by 0.5% during the first quarter. Goldman Sachs Group Inc. now owns 209,126 shares of the financial services provider’s stock valued at $68,414,000 after buying an additional 1,089 shares during the last quarter. Woodline Partners LP bought a new position in shares of LPL Financial during the first quarter valued at about $1,636,000. Focus Partners Wealth increased its holdings in shares of LPL Financial by 12.2% in the first quarter. Focus Partners Wealth now owns 4,360 shares of the financial services provider’s stock worth $1,426,000 after buying an additional 473 shares during the period. Finally, Acadian Asset Management LLC purchased a new position in shares of LPL Financial in the first quarter worth about $121,000. Institutional investors own 95.66% of the company’s stock.

Insider Buying and Selling at LPL Financial

In other news, Director Aneri Jambusaria sold 308 shares of the business’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 transaction, the director directly owned 6,415 shares of the company’s stock, valued at approximately $1,962,990. The trade was a 4.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on LPLA. Keefe, Bruyette & Woods initiated coverage on LPL Financial in a report on Wednesday, April 8th. They set an “outperform” rating and a $350.00 target price for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LPL Financial in a research note on Monday, April 27th. Jefferies Financial Group lowered their price objective on LPL Financial from $464.00 to $383.00 and set a “buy” rating for the company in a research report on Monday, April 6th. TD Cowen dropped their price objective on LPL Financial from $330.00 to $326.00 and set a “hold” rating for the company in a research note on Friday, May 1st. Finally, Morgan Stanley raised their target price on shares of LPL Financial from $374.00 to $387.00 and gave the stock an “overweight” rating in a report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, LPL Financial has an average rating of “Moderate Buy” and an average target price of $397.92.

LPL Financial Stock Performance

LPL Financial stock opened at $324.90 on Monday. The company has a current ratio of 2.56, a quick ratio of 2.56 and a debt-to-equity ratio of 1.26. The firm has a 50-day moving average of $293.42 and a 200-day moving average of $317.96. The firm has a market cap of $25.99 billion, a P/E ratio of 29.01, a P/E/G ratio of 0.63 and a beta of 0.50. LPL Financial Holdings Inc. has a 1-year low of $260.15 and a 1-year high of $403.58.

LPL Financial (NASDAQ:LPLA) last posted its earnings results on Thursday, April 30th. The financial services provider reported $5.60 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $4.98 billion. During the same period last year, the firm earned $5.15 earnings per share. LPL Financial’s quarterly revenue was up 34.6% on a year-over-year basis. Sell-side analysts expect that LPL Financial Holdings Inc. will post 23.38 EPS for the current year.

LPL Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Thursday, May 21st. LPL Financial’s dividend payout ratio (DPR) is currently 10.71%.

About LPL Financial

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.