Allworth Financial LP Buys Shares of 4,107 LPL Financial Holdings Inc. $LPLA

Key Points

• Allworth Financial initiated a 4,107-share position in LPL Financial valued at approximately $1.16 million, while several other institutional investors also established new stakes. Institutions collectively own 95.66% of the company.
• LPL Financial exceeded quarterly expectations, reporting $5.84 in adjusted EPS versus the $5.39 consensus and $5.19 billion in revenue, up 35.2% year over year.
• Analysts maintain a favorable outlook, with a consensus “Moderate Buy” rating and a $406.69 price target. The company also declared a quarterly dividend of $0.30 per share, while insiders sold 5,427 shares worth roughly $1.91 million over the past three months.

Allworth Financial LP bought a new stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 4,107 shares of the financial services provider's stock, valued at approximately $1,157,000.

A number of other hedge funds have also made changes to their positions in the stock. B. Metzler seel. Sohn & Co. AG acquired a new position in LPL Financial in the 2nd quarter valued at approximately $13,070,000. Silvant Capital Management LLC acquired a new stake in shares of LPL Financial during the 2nd quarter valued at $4,842,000. Ceredex Value Advisors LLC purchased a new position in shares of LPL Financial during the 2nd quarter valued at $20,920,000. D L Carlson Investment Group Inc. purchased a new position in shares of LPL Financial during the 2nd quarter valued at $1,507,000. Finally, PCM Encore LLC acquired a new position in shares of LPL Financial in the second quarter worth $239,000. 95.66% of the stock is owned by hedge funds and other institutional investors.

LPL Financial Price Performance

NASDAQ LPLA opened at $361.35 on Friday. LPL Financial Holdings Inc. has a fifty-two week low of $260.15 and a fifty-two week high of $400.16. The stock's 50-day moving average is $326.58 and its two-hundred day moving average is $315.86. The firm has a market cap of $28.45 billion, a P/E ratio of 28.82, a price-to-earnings-growth ratio of 0.61 and a beta of 0.48. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.39 and a quick ratio of 2.39.

LPL Financial (NASDAQ:LPLA - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The financial services provider reported $5.84 EPS for the quarter, beating analysts' consensus estimates of $5.39 by $0.45. LPL Financial had a return on equity of 32.20% and a net margin of 5.13%.The business had revenue of $5.19 billion for the quarter, compared to analyst estimates of $5.04 billion. During the same quarter in the prior year, the firm posted $4.51 EPS. The firm's revenue for the quarter was up 35.2% on a year-over-year basis. On average, analysts anticipate that LPL Financial Holdings Inc. will post 24.09 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be given a $0.30 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.3%. LPL Financial's dividend payout ratio (DPR) is currently 9.57%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. UBS Group reduced their price objective on LPL Financial from $395.00 to $391.00 and set a "buy" rating for the company in a research report on Wednesday, July 8th. William Blair restated an "outperform" rating on shares of LPL Financial in a research note on Thursday, June 4th. JPMorgan Chase & Co. upped their target price on LPL Financial from $408.00 to $428.00 and gave the stock an "overweight" rating in a research report on Friday, July 31st. Weiss Ratings reaffirmed a "hold (c)" rating on shares of LPL Financial in a research note on Friday, July 24th. Finally, TD Cowen lifted their price target on LPL Financial from $330.00 to $372.00 and gave the company a "hold" rating in a report on Friday, July 31st. Twelve equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, LPL Financial presently has a consensus rating of "Moderate Buy" and a consensus price target of $406.69.

Insider Transactions at LPL Financial

In other news, Director Aneri Jambusaria sold 308 shares of the business's stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $306.00, for a total value of $94,248.00. Following the completion of the sale, the director directly owned 6,415 shares in the company, valued at approximately $1,962,990. The trade was a 4.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew Enyedi sold 1,000 shares of the firm's stock in a transaction on Friday, July 31st. The shares were sold at an average price of $352.72, for a total transaction of $352,720.00. Following the completion of the transaction, the director owned 13,121 shares in the company, valued at $4,628,039.12. The trade was a 7.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 5,427 shares of company stock worth $1,910,778. 0.60% of the stock is owned by insiders.

LPL Financial 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.

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