King Luther Capital Management Corp Sells 497 Shares of LPL Financial Holdings Inc. $LPLA

King Luther Capital Management Corp lessened its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 7.2% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,366 shares of the financial services provider’s stock after selling 497 shares during the period. King Luther Capital Management Corp’s holdings in LPL Financial were worth $2,387,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in LPLA. Summit Securities Group LLC bought a new position in LPL Financial in the 1st quarter worth about $26,000. Millstone Evans Group LLC boosted its position in shares of LPL Financial by 123.1% during the 1st quarter. Millstone Evans Group LLC now owns 87 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 48 shares during the last quarter. TCTC Holdings LLC grew its holdings in shares of LPL Financial by 116.7% during the first quarter. TCTC Holdings LLC now owns 104 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 56 shares in the last quarter. Maseco LLP purchased a new position in shares of LPL Financial during the second quarter worth about $34,000. Finally, Bayforest Capital Ltd bought a new position in shares of LPL Financial in the second quarter worth approximately $34,000. Institutional investors own 95.66% of the company’s stock.

Insider Activity at LPL Financial

In other news, Director Aneri Jambusaria sold 80 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $361.25, for a total transaction of $28,900.00. Following the completion of the sale, the director owned 5,582 shares of the company’s stock, valued at approximately $2,016,497.50. This represents a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Greg Gates sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $376.43, for a total transaction of $564,645.00. Following the completion of the transaction, the director owned 15,370 shares in the company, valued at $5,785,729.10. This represents a 8.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 3,830 shares of company stock valued at $1,336,675 in the last quarter. Corporate insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on LPLA shares. Citizens Jmp lifted their target price on shares of LPL Financial from $455.00 to $475.00 and gave the company a “market outperform” rating in a research report on Friday, October 31st. The Goldman Sachs Group restated a “buy” rating and set a $421.00 price objective on shares of LPL Financial in a research report on Friday, October 31st. JPMorgan Chase & Co. dropped their price objective on shares of LPL Financial from $463.00 to $438.00 and set an “overweight” rating for the company in a report on Monday, October 20th. Raymond James Financial upgraded shares of LPL Financial from an “underperform” rating to a “market perform” rating in a research report on Thursday, October 9th. Finally, Rothschild & Co Redburn downgraded LPL Financial from a “buy” rating to a “neutral” rating and set a $390.00 price target on the stock. in a research report on Friday, September 19th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $429.00.

LPL Financial Stock Performance

NASDAQ LPLA opened at $375.36 on Tuesday. The company has a 50-day simple moving average of $341.01 and a two-hundred day simple moving average of $359.55. LPL Financial Holdings Inc. has a 12-month low of $262.83 and a 12-month high of $403.58. The firm has a market cap of $30.04 billion, a price-to-earnings ratio of 34.56, a PEG ratio of 0.83 and a beta of 0.63. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 1.49.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings data on Thursday, October 30th. The financial services provider reported $5.20 EPS for the quarter, topping the consensus estimate of $4.49 by $0.71. LPL Financial had a return on equity of 36.80% and a net margin of 5.35%.The firm had revenue of $4.55 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter in the previous year, the business earned $4.16 earnings per share. The company’s quarterly revenue was up 46.4% on a year-over-year basis. On average, equities analysts forecast that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Thursday, November 13th will be given a $0.30 dividend. The ex-dividend date is Thursday, November 13th. This represents a $1.20 annualized dividend and a yield of 0.3%. LPL Financial’s payout ratio is presently 11.05%.

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.