LPL Financial (NASDAQ:LPLA) Director Aneri Jambusaria Sells 80 Shares of Stock

LPL Financial Holdings Inc. (NASDAQ:LPLA) Director Aneri Jambusaria sold 80 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $352.48, for a total transaction of $28,198.40. Following the completion of the transaction, the director directly owned 5,502 shares in the company, valued at $1,939,344.96. The trade was a 1.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

LPL Financial Trading Up 1.5%

Shares of LPLA stock traded up $5.41 during trading hours on Thursday, hitting $366.64. The company had a trading volume of 17,036 shares, compared to its average volume of 819,924. The company has a debt-to-equity ratio of 1.49, a current ratio of 2.60 and a quick ratio of 2.60. The stock has a market capitalization of $29.35 billion, a PE ratio of 33.70, a price-to-earnings-growth ratio of 0.78 and a beta of 0.60. The company’s fifty day moving average is $346.31 and its 200 day moving average is $360.93. LPL Financial Holdings Inc. has a fifty-two week low of $262.83 and a fifty-two week high of $403.58.

LPL Financial (NASDAQ:LPLA) last posted its earnings results on Thursday, October 30th. The financial services provider reported $5.20 earnings per share for the quarter, beating the consensus estimate of $4.49 by $0.71. LPL Financial had a net margin of 5.35% and a return on equity of 36.80%. The firm had revenue of $4.55 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter last year, the firm earned $4.16 EPS. The firm’s revenue for the quarter was up 46.4% on a year-over-year basis. Research analysts expect that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Thursday, November 13th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $1.20 annualized dividend and a yield of 0.3%. LPL Financial’s dividend payout ratio is presently 11.05%.

Analysts Set New Price Targets

Several research firms have weighed in on LPLA. JMP Securities set a $475.00 target price on LPL Financial in a research report on Friday, October 31st. Morgan Stanley lowered their price objective on shares of LPL Financial from $490.00 to $462.00 and set an “overweight” rating for the company in a research note on Wednesday, October 1st. Rothschild Redb cut shares of LPL Financial from a “strong-buy” rating to a “hold” rating in a report on Friday, September 19th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $421.00 target price on shares of LPL Financial in a research note on Friday, October 31st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of LPL Financial in a research report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, LPL Financial currently has an average rating of “Moderate Buy” and an average price target of $429.00.

Hedge Funds Weigh In On LPL Financial

A number of institutional investors and hedge funds have recently modified their holdings of LPLA. Osterweis Capital Management Inc. purchased a new stake in LPL Financial during the 2nd quarter worth about $26,000. Summit Securities Group LLC purchased a new position in LPL Financial in the first quarter valued at approximately $26,000. SBI Securities Co. Ltd. raised its holdings in LPL Financial by 116.2% during the second quarter. SBI Securities Co. Ltd. now owns 80 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 43 shares in the last quarter. Chung Wu Investment Group LLC purchased a new stake in shares of LPL Financial during the 3rd quarter worth approximately $27,000. Finally, SJS Investment Consulting Inc. grew its position in shares of LPL Financial by 912.5% in the 3rd quarter. SJS Investment Consulting Inc. now owns 81 shares of the financial services provider’s stock valued at $27,000 after buying an additional 73 shares during the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

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.