LPL Financial (NASDAQ:LPLA) Insider Katharine Reeping Sells 440 Shares of Stock

LPL Financial Holdings Inc. (NASDAQ:LPLA) insider Katharine Reeping sold 440 shares of the company’s stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $347.88, for a total transaction of $153,067.20. Following the completion of the sale, the insider directly owned 1,774 shares in the company, valued at $617,139.12. This represents a 19.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

LPL Financial Trading Down 2.3%

Shares of NASDAQ LPLA opened at $345.66 on Tuesday. LPL Financial Holdings Inc. has a 1 year low of $260.15 and a 1 year high of $400.16. The stock has a market cap of $27.22 billion, a P/E ratio of 27.56, a price-to-earnings-growth ratio of 0.60 and a beta of 0.48. The firm has a 50-day moving average of $348.09 and a 200 day moving average of $316.76. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.39 and a quick ratio of 2.39.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data on Thursday, July 30th. The financial services provider reported $5.84 earnings per share for the quarter, topping 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 business had revenue of $5.19 billion for the quarter, compared to analysts’ expectations of $5.04 billion. During the same quarter in the prior year, the company earned $4.51 earnings per share. The business’s revenue was up 35.2% compared to the same quarter last year. As a group, sell-side analysts expect that LPL Financial Holdings Inc. will post 24.06 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were paid a $0.30 dividend. The ex-dividend date was Friday, August 14th. This represents a $1.20 annualized dividend and a dividend yield of 0.3%. LPL Financial’s dividend payout ratio is presently 9.57%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on LPLA. Truist Financial started coverage on LPL Financial in a research note on Tuesday, September 1st. They set a “hold” rating and a $389.00 price objective for the company. Keefe, Bruyette & Woods increased their target price on LPL Financial from $365.00 to $390.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. JPMorgan Chase & Co. raised their price target on LPL Financial from $408.00 to $428.00 and gave the company an “overweight” rating in a report on Friday, July 31st. BMO Capital Markets lifted their price target on LPL Financial from $300.00 to $390.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. Finally, William Blair reiterated an “outperform” rating on shares of LPL Financial in a research note on Thursday, June 4th. Twelve research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $405.79.

Institutional Trading of LPL Financial

A number of large investors have recently made changes to their positions in LPLA. National Pension Service increased its position in shares of LPL Financial by 14.8% during the 2nd quarter. National Pension Service now owns 161,309 shares of the financial services provider’s stock valued at $45,438,000 after purchasing an additional 20,758 shares during the last quarter. WINTON GROUP Ltd grew its position in LPL Financial by 2,011.8% during the second quarter. WINTON GROUP Ltd now owns 21,878 shares of the financial services provider’s stock valued at $6,163,000 after buying an additional 20,842 shares during the period. Engineers Gate Manager LP purchased a new stake in LPL Financial during the second quarter valued at approximately $295,000. Arizona State Retirement System increased its holdings in LPL Financial by 5.7% during the second quarter. Arizona State Retirement System now owns 22,991 shares of the financial services provider’s stock valued at $6,476,000 after buying an additional 1,243 shares during the last quarter. Finally, Nykredit A S bought a new position in LPL Financial in the second quarter worth approximately $8,439,000. 95.66% of the stock is currently owned by institutional investors.

LPL Financial Company Profile

LPL Financial Holdings Inc (NASDAQ:LPLA) is the parent company of LPL Financial LLC, an independent broker-dealer and registered investment adviser that provides services and support to financial advisors. Rather than operating primarily through a proprietary branch network, LPL enables independent financial professionals, registered investment advisers, and advisors affiliated with banks and credit unions to operate their own practices while accessing investment products, technology, and business resources.

The company’s platform supports brokerage and fee-based advisory services, retirement plan services, insurance and annuity products, alternative investments, cash management, research, compliance, and practice management.