Berger Financial Group Inc Sells 67 Shares of LPL Financial Holdings Inc. $LPLA

Berger Financial Group Inc lessened its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 8.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 718 shares of the financial services provider’s stock after selling 67 shares during the quarter. Berger Financial Group Inc’s holdings in LPL Financial were worth $269,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Summit Securities Group LLC purchased a new position in shares of LPL Financial in the 1st quarter worth about $26,000. Millstone Evans Group LLC raised its position in LPL Financial by 123.1% in the first quarter. Millstone Evans Group LLC now owns 87 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 48 shares during the period. Maseco LLP purchased a new position in LPL Financial in the second quarter valued at about $34,000. Private Trust Co. NA increased its stake in shares of LPL Financial by 234.5% during the 1st quarter. Private Trust Co. NA now owns 97 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 68 shares during the last quarter. Finally, City Holding Co. bought a new stake in shares of LPL Financial in the 1st quarter worth approximately $34,000. 95.66% of the stock is owned by hedge funds and other institutional investors.

LPL Financial Stock Down 0.8%

LPLA stock opened at $312.18 on Tuesday. The company’s 50 day moving average is $352.72 and its 200 day moving average is $353.90. The stock has a market cap of $24.97 billion, a price-to-earnings ratio of 21.35, a price-to-earnings-growth ratio of 0.73 and a beta of 0.61. The company has a current ratio of 3.22, a quick ratio of 3.22 and a debt-to-equity ratio of 1.41. LPL Financial Holdings Inc. has a 1-year low of $236.59 and a 1-year high of $403.58.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings results on Thursday, July 31st. The financial services provider reported $4.51 EPS for the quarter, topping analysts’ consensus estimates of $4.21 by $0.30. The business had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3.77 billion. LPL Financial had a net margin of 7.91% and a return on equity of 39.80%. The business’s quarterly revenue was up 30.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.88 EPS. Sell-side analysts predict that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.20 annualized dividend and a yield of 0.4%. LPL Financial’s payout ratio is 8.21%.

Insider Transactions at LPL Financial

In other news, Director Greg Gates sold 1,500 shares of the stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $374.05, for a total transaction of $561,075.00. Following the transaction, the director directly owned 19,120 shares in the company, valued at approximately $7,151,836. This represents a 7.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Aneri Jambusaria sold 80 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $361.25, for a total value of $28,900.00. Following the completion of the sale, the director owned 5,582 shares of the company’s stock, valued at $2,016,497.50. The trade was a 1.41% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,080 shares of company stock valued at $1,097,290 over the last quarter. Company insiders own 0.70% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on LPLA shares. Wall Street Zen lowered LPL Financial from a “buy” rating to a “hold” rating in a research note on Saturday, June 14th. Rothschild & Co Redburn cut LPL Financial from a “buy” rating to a “neutral” rating and set a $390.00 price objective on the stock. in a report on Friday, September 19th. Weiss Ratings reiterated a “hold (c+)” rating on shares of LPL Financial in a research report on Saturday, September 27th. Redburn Atlantic upgraded shares of LPL Financial from a “neutral” rating to a “buy” rating and raised their price objective for the company from $420.00 to $460.00 in a research report on Monday, June 9th. Finally, Keefe, Bruyette & Woods boosted their price objective 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 research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, LPL Financial currently has an average rating of “Moderate Buy” and a consensus target price of $395.77.

LPL Financial 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.