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

Key Points

• Aneri Jambusaria, a director at LPL Financial, sold 80 shares at an average price of $361.25, reducing their ownership by 1.41% to 5,582 shares, valued at approximately $2.02 million.
• LPL Financial's stock price decreased to $356.33, with a 12-month trading range of $204.41 to $403.58, and a market capitalization of $28.51 billion.
• The company reported a strong quarterly performance with an EPS of $4.51, exceeding estimates, and a 30.8% increase in revenue year-over-year, totaling $3.84 billion.

LPL Financial Holdings Inc. (NASDAQ:LPLA - Get Free Report) Director Aneri Jambusaria sold 80 shares of the business's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $361.25, for a total value of $28,900.00. Following the completion of 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

LPL Financial Price Performance

Shares of LPL Financial stock traded down $6.50 during trading hours on Wednesday, hitting $356.33. The company's stock had a trading volume of 460,985 shares, compared to its average volume of 803,928. LPL Financial Holdings Inc. has a 12-month low of $204.41 and a 12-month high of $403.58. The business has a 50 day moving average price of $371.95 and a two-hundred day moving average price of $355.46. The company has a debt-to-equity ratio of 1.41, a quick ratio of 3.22 and a current ratio of 3.22. The company has a market cap of $28.51 billion, a PE ratio of 24.37, a PEG ratio of 0.85 and a beta of 0.66.

LPL Financial (NASDAQ:LPLA - Get Free Report) last released its earnings results on Thursday, July 31st. The financial services provider reported $4.51 EPS for the quarter, topping the consensus estimate of $4.21 by $0.30. LPL Financial had a net margin of 7.91% and a return on equity of 39.80%. The firm had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter in the previous year, the firm earned $3.88 earnings per share. The company's quarterly revenue was up 30.8% compared to the same quarter last year. Analysts expect that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Friday, August 15th. LPL Financial's payout ratio is 8.21%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Cullen Frost Bankers Inc. grew its holdings in shares of LPL Financial by 9.9% in the second quarter. Cullen Frost Bankers Inc. now owns 301 shares of the financial services provider's stock worth $113,000 after purchasing an additional 27 shares during the last quarter. Colonial Trust Co SC increased its holdings in LPL Financial by 6.1% during the fourth quarter. Colonial Trust Co SC now owns 505 shares of the financial services provider's stock valued at $165,000 after buying an additional 29 shares during the period. Compass Financial Services Inc lifted its holdings in LPL Financial by 14.5% during the first quarter. Compass Financial Services Inc now owns 229 shares of the financial services provider's stock worth $75,000 after buying an additional 29 shares during the period. Camden National Bank boosted its position in LPL Financial by 3.1% during the 2nd quarter. Camden National Bank now owns 967 shares of the financial services provider's stock valued at $363,000 after acquiring an additional 29 shares in the last quarter. Finally, Perennial Investment Advisors LLC raised its holdings in LPL Financial by 4.0% in the second quarter. Perennial Investment Advisors LLC now owns 804 shares of the financial services provider's stock worth $302,000 after purchasing an additional 31 shares in the last quarter. 95.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Wall Street Zen downgraded shares of LPL Financial from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. Redburn Atlantic raised shares of LPL Financial from a "neutral" rating to a "buy" rating and upped their price target for the company from $420.00 to $460.00 in a research note on Monday, June 9th. JMP Securities upped their price target on shares of LPL Financial from $420.00 to $440.00 and gave the company a "market outperform" rating in a research note on Friday, May 9th. Citigroup downgraded shares of LPL Financial from a "neutral" rating to a "sell" rating and set a $80.00 price target on the stock. in a research note on Wednesday, July 9th. Finally, Keefe, Bruyette & Woods upped their price target on shares of LPL Financial from $425.00 to $435.00 and gave the company an "outperform" rating in a research note on Monday, August 4th. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $383.33.

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.

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