NewEdge Wealth LLC Lowers Holdings in LPL Financial Holdings Inc. $LPLA

NewEdge Wealth LLC lowered its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 35.3% in the first quarter, Holdings Channel reports. The institutional investor owned 12,914 shares of the financial services provider’s stock after selling 7,056 shares during the period. NewEdge Wealth LLC’s holdings in LPL Financial were worth $3,885,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Dodge & Cox boosted its holdings in shares of LPL Financial by 18.6% in the fourth quarter. Dodge & Cox now owns 3,948,970 shares of the financial services provider’s stock valued at $1,410,454,000 after acquiring an additional 619,715 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in LPL Financial by 14.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,719,447 shares of the financial services provider’s stock worth $1,328,475,000 after purchasing an additional 477,094 shares in the last quarter. Capital World Investors raised its holdings in LPL Financial by 37.9% during the fourth quarter. Capital World Investors now owns 3,625,357 shares of the financial services provider’s stock worth $1,294,869,000 after purchasing an additional 996,806 shares in the last quarter. Janus Henderson Group PLC lifted its position in LPL Financial by 9.0% in the fourth quarter. Janus Henderson Group PLC now owns 3,377,553 shares of the financial services provider’s stock valued at $1,206,371,000 after purchasing an additional 280,202 shares during the period. Finally, Principal Financial Group Inc. lifted its position in LPL Financial by 36.3% in the first quarter. Principal Financial Group Inc. now owns 2,636,544 shares of the financial services provider’s stock valued at $793,163,000 after purchasing an additional 702,061 shares during the period. Institutional investors and hedge funds own 95.66% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on LPLA shares. Weiss Ratings reiterated a “hold (c)” rating on shares of LPL Financial in a research report on Monday, April 27th. JPMorgan Chase & Co. increased their target price on LPL Financial from $390.00 to $408.00 and gave the stock an “overweight” rating in a research note on Monday, July 13th. UBS Group reduced their price target on LPL Financial from $395.00 to $391.00 and set a “buy” rating for the company in a report on Wednesday, July 8th. Keefe, Bruyette & Woods began coverage on LPL Financial in a research note on Wednesday, April 8th. They issued an “outperform” rating and a $350.00 price target on the stock. Finally, Barclays dropped their price objective on LPL Financial from $412.00 to $394.00 and set an “overweight” rating on the stock in a report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $397.92.

Insider Buying and Selling at LPL Financial

In other news, Director Aneri Jambusaria sold 308 shares of LPL Financial stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $306.00, for a total transaction of $94,248.00. Following the completion of the transaction, the director owned 6,415 shares of the company’s stock, valued at $1,962,990. The trade was a 4.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is currently owned by corporate insiders.

LPL Financial Stock Performance

LPLA opened at $328.55 on Friday. The stock has a market cap of $26.28 billion, a P/E ratio of 29.33, a P/E/G ratio of 0.63 and a beta of 0.50. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.56 and a quick ratio of 2.56. The stock’s 50 day simple moving average is $296.47 and its 200 day simple moving average is $317.14. LPL Financial Holdings Inc. has a 1-year low of $260.15 and a 1-year high of $403.58.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings data on Thursday, April 30th. The financial services provider reported $5.60 earnings per share for the quarter, beating the consensus estimate of $5.49 by $0.11. The firm had revenue of $4.94 billion during the quarter, compared to the consensus estimate of $4.98 billion. LPL Financial had a return on equity of 31.26% and a net margin of 4.93%.LPL Financial’s quarterly revenue was up 34.6% on a year-over-year basis. During the same period last year, the business posted $5.15 EPS. As a group, equities analysts anticipate that LPL Financial Holdings Inc. will post 23.38 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st were issued a $0.30 dividend. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $1.20 annualized dividend and a yield of 0.4%. LPL Financial’s dividend payout ratio is 10.71%.

LPL Financial Company Profile

LPL Financial (NASDAQ: LPLA) is a U.S.-focused financial services firm that provides brokerage, custodial and advisory platforms to independent financial advisors, registered investment advisers and institutions. Operating primarily as an independent broker-dealer and custodian, the company supports a network of advisors with the operational, compliance and clearing infrastructure needed to manage client accounts and deliver investment advice outside of traditional wirehouse models.

The firm’s product and service offerings include trade execution and clearing, custody services, retirement plan services, model portfolio and advisory platforms, wealth management technology, investment research and product access across equities, fixed income, mutual funds, exchange-traded funds and insurance and annuity solutions.