Venturi Wealth Management LLC Sells 406 Shares of LPL Financial Holdings Inc. $LPLA

Venturi Wealth Management LLC trimmed its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 19.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,693 shares of the financial services provider’s stock after selling 406 shares during the quarter. Venturi Wealth Management LLC’s holdings in LPL Financial were worth $635,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. DAVENPORT & Co LLC grew its stake in shares of LPL Financial by 8.9% during the first quarter. DAVENPORT & Co LLC now owns 1,918 shares of the financial services provider’s stock worth $627,000 after buying an additional 156 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of LPL Financial by 8.8% during the first quarter. JPMorgan Chase & Co. now owns 1,304,780 shares of the financial services provider’s stock worth $426,846,000 after buying an additional 105,665 shares during the last quarter. Amalgamated Bank grew its stake in shares of LPL Financial by 3.8% during the first quarter. Amalgamated Bank now owns 5,875 shares of the financial services provider’s stock worth $1,922,000 after buying an additional 213 shares during the last quarter. Blue Trust Inc. grew its stake in shares of LPL Financial by 2,319.1% during the first quarter. Blue Trust Inc. now owns 1,137 shares of the financial services provider’s stock worth $372,000 after buying an additional 1,090 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in shares of LPL Financial by 198.3% during the first quarter. Nisa Investment Advisors LLC now owns 6,497 shares of the financial services provider’s stock worth $2,125,000 after buying an additional 4,319 shares during the last quarter. Institutional investors own 95.66% of the company’s stock.

Analysts Set New Price Targets

LPLA has been the topic of a number of research reports. Morgan Stanley decreased their target price on shares of LPL Financial from $490.00 to $462.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 1st. TD Cowen cut shares of LPL Financial from a “strong-buy” rating to a “hold” rating and decreased their target price for the stock from $406.00 to $403.00 in a research note on Wednesday, July 9th. Barclays reduced their price objective on shares of LPL Financial from $460.00 to $411.00 and set an “overweight” rating on the stock in a research note on Wednesday. Rothschild Redb cut shares of LPL Financial from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 19th. Finally, JMP Securities boosted their price objective on shares of LPL Financial from $440.00 to $455.00 and gave the stock a “market outperform” rating in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, LPL Financial has an average rating of “Moderate Buy” and a consensus price target of $395.85.

LPL Financial Stock Performance

Shares of LPL Financial stock opened at $327.45 on Friday. The company has a quick ratio of 3.22, a current ratio of 3.22 and a debt-to-equity ratio of 1.41. LPL Financial Holdings Inc. has a twelve month low of $242.94 and a twelve month high of $403.58. The stock has a market cap of $26.20 billion, a price-to-earnings ratio of 22.40, a P/E/G ratio of 0.76 and a beta of 0.61. The company’s fifty day moving average is $348.41 and its 200 day moving average is $353.35.

LPL Financial (NASDAQ:LPLA) last released its earnings results on Thursday, July 31st. The financial services provider reported $4.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.21 by $0.30. The business had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.77 billion. LPL Financial had a net margin of 7.91% and a return on equity of 39.80%. LPL Financial’s revenue for the quarter was up 30.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.88 earnings per share. Sell-side analysts forecast that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were issued a $0.30 dividend. The ex-dividend date was Friday, August 15th. This represents a $1.20 annualized dividend and a yield of 0.4%. LPL Financial’s payout ratio is presently 8.21%.

Insider Buying and Selling at LPL Financial

In related news, Director Aneri Jambusaria sold 80 shares of the business’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $361.25, for a total value of $28,900.00. Following the transaction, the director owned 5,582 shares in the company, valued at $2,016,497.50. The trade was a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Greg Gates sold 1,500 shares of the business’s stock in a transaction on Friday, September 5th. The shares were sold at an average price of $338.21, for a total transaction of $507,315.00. Following the completion of the transaction, the director owned 17,620 shares in the company, valued at approximately $5,959,260.20. The trade was a 7.85% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,830 shares of company stock worth $1,333,105. 1.30% of the stock is owned by company insiders.

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.