Stenger Family Office LLC Lowers Position in LPL Financial Holdings Inc. $LPLA

Stenger Family Office LLC cut its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 57.8% during the 4th quarter, Holdings Channel.com reports. The fund owned 3,427 shares of the financial services provider’s stock after selling 4,685 shares during the period. Stenger Family Office LLC’s holdings in LPL Financial were worth $1,224,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Dodge & Cox grew its stake in shares of LPL Financial by 18.6% in the 4th quarter. Dodge & Cox now owns 3,948,970 shares of the financial services provider’s stock worth $1,410,454,000 after acquiring an additional 619,715 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of 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 valued at $1,328,475,000 after purchasing an additional 477,094 shares in the last quarter. Capital World Investors lifted its position in shares of 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 valued at $1,294,869,000 after purchasing an additional 996,806 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in LPL Financial by 9.0% during the fourth quarter. Janus Henderson Group PLC now owns 3,377,553 shares of the financial services provider’s stock worth $1,206,371,000 after purchasing an additional 280,202 shares during the last quarter. Finally, Lone Pine Capital LLC boosted its holdings in LPL Financial by 20.5% during the third quarter. Lone Pine Capital LLC now owns 2,255,714 shares of the financial services provider’s stock worth $750,453,000 after purchasing an additional 383,466 shares during the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Matthew J. Audette sold 1,110 shares of the firm’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $330.01, for a total value of $366,311.10. Following the completion of the transaction, the chief financial officer directly owned 19,803 shares of the company’s stock, valued at approximately $6,535,188.03. This trade represents a 5.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 company insiders.

LPL Financial Stock Performance

Shares of LPLA opened at $293.95 on Friday. The business has a 50-day moving average of $301.84 and a 200 day moving average of $327.85. LPL Financial Holdings Inc. has a fifty-two week low of $260.15 and a fifty-two week high of $403.58. The firm has a market cap of $23.51 billion, a P/E ratio of 26.25, a price-to-earnings-growth ratio of 0.61 and a beta of 0.50. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.56 and a current ratio of 2.56.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data on Thursday, April 30th. The financial services provider reported $5.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.49 by $0.11. The business had revenue of $4.94 billion for the quarter, compared to analysts’ expectations of $4.98 billion. LPL Financial had a return on equity of 31.26% and a net margin of 4.93%.The firm’s quarterly revenue was up 34.6% compared to the same quarter last year. During the same period in the previous year, the business posted $5.15 EPS. As a group, research analysts forecast that LPL Financial Holdings Inc. will post 22.98 EPS for the current year.

LPL Financial Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have commented on LPLA. Morgan Stanley decreased their price objective on shares of LPL Financial from $447.00 to $374.00 and set an “overweight” rating for the company in a research note on Friday, April 10th. William Blair restated an “outperform” rating on shares of LPL Financial in a research note on Thursday, June 4th. Citizens Jmp reaffirmed a “market outperform” rating and issued a $500.00 target price on shares of LPL Financial in a report on Monday, April 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LPL Financial in a research report on Monday, April 27th. Finally, Barclays lifted their price target on LPL Financial from $369.00 to $412.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $398.86.

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.