Aberdeen Group plc Has $37.78 Million Stock Holdings in LPL Financial Holdings Inc. $LPLA

Key Points

• Aberdeen Group plc reduced its stake in LPL Financial Holdings Inc. by 26%, now holding approximately $37.78 million in shares, as reported in their recent SEC filing.
• Several research analysts have recently upgraded or adjusted their ratings on LPL Financial, with Goldman Sachs initiating coverage with a "buy" rating and a $405 target price.
• LPL Financial announced a quarterly dividend of $0.30 per share, resulting in an annualized dividend of $1.20 and a yield of 0.4%.

Aberdeen Group plc cut its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 26.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 102,164 shares of the financial services provider's stock after selling 35,855 shares during the period. Aberdeen Group plc owned approximately 0.13% of LPL Financial worth $37,781,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Summit Securities Group LLC acquired a new stake in shares of LPL Financial during the first quarter worth $26,000. Millstone Evans Group LLC raised its position in shares of LPL Financial by 123.1% during the first quarter. Millstone Evans Group LLC now owns 87 shares of the financial services provider's stock worth $28,000 after purchasing an additional 48 shares during the period. Private Trust Co. NA raised its position in shares of LPL Financial by 234.5% during the first quarter. Private Trust Co. NA now owns 97 shares of the financial services provider's stock worth $32,000 after purchasing an additional 68 shares during the period. TCTC Holdings LLC raised its position in shares of LPL Financial by 116.7% during the first quarter. TCTC Holdings LLC now owns 104 shares of the financial services provider's stock worth $34,000 after purchasing an additional 56 shares during the period. Finally, Maseco LLP acquired a new stake in shares of LPL Financial during the second quarter worth $34,000. 95.66% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on LPLA shares. The Goldman Sachs Group initiated coverage on LPL Financial in a research report on Friday, September 12th. They set a "buy" rating and a $405.00 price target on the stock. Rothschild & Co Redburn lowered LPL Financial from a "buy" rating to a "neutral" rating and set a $390.00 price target on the stock. in a research report on Friday, September 19th. TD Cowen lowered LPL Financial from a "strong-buy" rating to a "hold" rating and dropped their price target for the company from $406.00 to $403.00 in a research report on Wednesday, July 9th. JMP Securities upped their price target on LPL Financial from $440.00 to $455.00 and gave the company a "market outperform" rating in a research report on Thursday. Finally, Raymond James Financial raised LPL Financial from an "underperform" rating to a "market perform" rating in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $395.85.

Insider Activity

In other news, Director Aneri Jambusaria sold 80 shares of the company's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $361.25, for a total transaction of $28,900.00. Following the completion of the sale, the director owned 5,582 shares in the company, valued at approximately $2,016,497.50. This represents a 1.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Greg Gates sold 750 shares of the company's stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $314.42, for a total value of $235,815.00. Following the sale, the director owned 16,870 shares of the company's stock, valued at approximately $5,304,265.40. This trade represents a 4.26% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,830 shares of company stock valued at $1,333,105. 0.70% of the stock is currently owned by corporate insiders.

LPL Financial Stock Performance

Shares of NASDAQ LPLA opened at $315.24 on Monday. The business's 50-day moving average price is $347.31 and its two-hundred day moving average price is $353.40. The company has a debt-to-equity ratio of 1.41, a current ratio of 3.22 and a quick ratio of 3.22. LPL Financial Holdings Inc. has a one year low of $242.94 and a one year high of $403.58. The company has a market capitalization of $25.22 billion, a P/E ratio of 21.56, a price-to-earnings-growth ratio of 0.74 and a beta of 0.61.

LPL Financial (NASDAQ:LPLA - Get Free Report) last issued its earnings results on Thursday, July 31st. The financial services provider reported $4.51 EPS for the quarter, beating analysts' consensus estimates of $4.21 by $0.30. LPL Financial had a return on equity of 39.80% and a net margin of 7.91%.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 company posted $3.88 earnings per share. The business's quarterly revenue was up 30.8% compared to the same quarter last year. Analysts anticipate 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 declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Friday, August 15th. LPL Financial's dividend payout ratio is 8.21%.

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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