AE Wealth Management LLC Increases Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Key Points

• AE Wealth Management LLC increased its holdings in LPL Financial Holdings Inc. by 83.2%, owning a total of 5,546 shares worth approximately $1,814,000.
• LPL Financial reported $5.15 EPS for the latest quarter, exceeding expectations and showing a revenue increase of 4.5% year-over-year, reaching $3.67 billion.
• Insider trading activity includes Director Greg Gates selling 1,500 shares at an average price of $382.63, resulting in a 6.78% decrease in his ownership of the stock.

AE Wealth Management LLC increased its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 83.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,546 shares of the financial services provider's stock after acquiring an additional 2,519 shares during the quarter. AE Wealth Management LLC's holdings in LPL Financial were worth $1,814,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Millstone Evans Group LLC grew its position in shares of LPL Financial by 123.1% in the first quarter. Millstone Evans Group LLC now owns 87 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 48 shares during the period. Private Trust Co. NA boosted its stake in LPL Financial by 234.5% in the 1st quarter. Private Trust Co. NA now owns 97 shares of the financial services provider's stock worth $32,000 after buying an additional 68 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in LPL Financial by 63.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 100 shares of the financial services provider's stock worth $33,000 after buying an additional 39 shares during the last quarter. City Holding Co. purchased a new stake in LPL Financial in the 1st quarter valued at about $34,000. Finally, Fourth Dimension Wealth LLC acquired a new position in shares of LPL Financial during the 4th quarter valued at about $40,000. 95.66% of the stock is owned by hedge funds and other institutional investors.

LPL Financial Stock Performance

LPL Financial stock opened at $380.04 on Friday. The firm has a market capitalization of $30.39 billion, a PE ratio of 26.30, a price-to-earnings-growth ratio of 0.93 and a beta of 0.64. LPL Financial Holdings Inc. has a one year low of $187.19 and a one year high of $396.25. The stock's 50 day moving average price is $377.67 and its 200 day moving average price is $353.11. The company has a debt-to-equity ratio of 1.82, a quick ratio of 2.31 and a current ratio of 2.31.

LPL Financial (NASDAQ:LPLA - Get Free Report) last posted its earnings results on Thursday, May 8th. The financial services provider reported $5.15 EPS for the quarter, topping analysts' consensus estimates of $4.54 by $0.61. The business had revenue of $3.67 billion for the quarter, compared to analysts' expectations of $3.63 billion. LPL Financial had a net margin of 8.23% and a return on equity of 46.34%. The business's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the previous year, the company posted $3.83 earnings per share. As a group, sell-side analysts expect that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 30th were given a $0.30 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.20 dividend on an annualized basis and a yield of 0.32%. LPL Financial's payout ratio is currently 8.30%.

Insider Buying and Selling at LPL Financial

In other news, Director Greg Gates sold 1,500 shares of LPL Financial stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $382.63, for a total transaction of $573,945.00. Following the sale, the director directly owned 20,620 shares of the company's stock, valued at approximately $7,889,830.60. The trade was a 6.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Wall Street Zen cut shares of LPL Financial from a "buy" rating to a "hold" rating in a research report on Saturday, June 14th. JMP Securities lifted their price target on shares of LPL Financial from $420.00 to $440.00 and gave the company a "market outperform" rating in a report on Friday, May 9th. Wells Fargo & Company boosted their price objective on shares of LPL Financial from $402.00 to $420.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Barclays increased their target price on LPL Financial from $450.00 to $460.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Finally, Morgan Stanley reissued an "overweight" rating and set a $490.00 price target (up previously from $450.00) on shares of LPL Financial in a research report on Tuesday, July 15th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, LPL Financial presently has a consensus rating of "Moderate Buy" and an average price target of $372.15.

About LPL Financial

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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