LPL Financial Holdings Inc. $LPLA Shares Purchased by Simplicity Wealth LLC

Simplicity Wealth LLC increased its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 633.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,191 shares of the financial services provider’s stock after purchasing an additional 12,256 shares during the period. Simplicity Wealth LLC’s holdings in LPL Financial were worth $4,340,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Physician Wealth Advisors Inc. grew its position in LPL Financial by 580.0% during the 1st quarter. Physician Wealth Advisors Inc. now owns 136 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 116 shares during the last quarter. Versant Capital Management Inc increased its stake in LPL Financial by 79.0% during the 2nd quarter. Versant Capital Management Inc now owns 188 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 83 shares in the last quarter. Abound Financial LLC raised its holdings in LPL Financial by 9,550.0% in the first quarter. Abound Financial LLC now owns 193 shares of the financial services provider’s stock worth $58,000 after buying an additional 191 shares during the last quarter. Harbor Investment Advisory LLC purchased a new position in LPL Financial in the second quarter worth about $59,000. Finally, Whipplewood Advisors LLC raised its holdings in LPL Financial by 1,260.0% in the first quarter. Whipplewood Advisors LLC now owns 204 shares of the financial services provider’s stock worth $61,000 after buying an additional 189 shares during the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.

LPL Financial Price Performance

LPLA opened at $315.61 on Monday. The company has a quick ratio of 2.39, a current ratio of 2.39 and a debt-to-equity ratio of 1.30. The firm has a 50 day moving average price of $337.10 and a 200-day moving average price of $321.00. LPL Financial Holdings Inc. has a twelve month low of $260.15 and a twelve month high of $400.16. The stock has a market capitalization of $24.85 billion, a price-to-earnings ratio of 25.17, a PEG ratio of 0.54 and a beta of 0.53.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data on Thursday, July 30th. The financial services provider reported $5.84 earnings per share for the quarter, beating analysts’ consensus estimates of $5.39 by $0.45. LPL Financial had a net margin of 5.13% and a return on equity of 32.20%. The company had revenue of $5.19 billion for the quarter, compared to the consensus estimate of $5.04 billion. During the same quarter in the prior year, the firm earned $4.51 earnings per share. The firm’s revenue for the quarter was up 35.2% compared to the same quarter last year. Equities research analysts forecast that LPL Financial Holdings Inc. will post 23.83 earnings per share for the current year.

Insider Activity at LPL Financial

In other news, Director Aneri Jambusaria sold 308 shares of the stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $357.36, for a total transaction of $110,066.88. Following the transaction, the director directly owned 6,107 shares of the company’s stock, valued at $2,182,397.52. This represents a 4.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew Enyedi sold 1,000 shares of the stock in a transaction on Friday, July 31st. The shares were sold at an average price of $352.72, for a total value of $352,720.00. Following the transaction, the director directly owned 13,121 shares in the company, valued at $4,628,039.12. The trade was a 7.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 5,867 shares of company stock worth $2,079,664. Company insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

LPLA has been the topic of several analyst reports. TD Cowen upped their target price on shares of LPL Financial from $377.00 to $380.00 and gave the stock a “hold” rating in a research note on Monday, October 12th. Wolfe Research reissued an “outperform” rating and set a $454.00 price target on shares of LPL Financial in a research report on Wednesday, August 12th. Barclays raised their price target on shares of LPL Financial from $401.00 to $409.00 and gave the company an “overweight” rating in a research report on Wednesday, October 7th. Keefe, Bruyette & Woods boosted their price objective on shares of LPL Financial from $365.00 to $390.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Finally, Morgan Stanley upped their price objective on LPL Financial from $387.00 to $393.00 and gave the company an “overweight” rating in a research report on Friday, October 9th. Fourteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $409.69.

LPL Financial Profile

LPL Financial Holdings Inc is a financial services company that supports independent financial advisors and institutions across the United States. Through its primary subsidiary, LPL Financial LLC, the company provides brokerage, investment advisory, and custodial services, enabling advisors to serve individual investors, families, retirement plans, and other clients.

LPL’s platform includes access to brokerage and advisory products, securities clearing and custody, trading and operations support, technology, compliance services, investment research, and practice-management resources.