LPL Financial Holdings Inc. $LPLA Shares Sold by Amundi

Key Points

• Amundi reduced its stake in LPL Financial Holdings by 31.9% during Q1, now holding 99,028 shares valued at approximately $30.97 million.
• LPL Financial recently reported earnings per share of $4.51, exceeding analyst expectations, with a 30.8% year-over-year revenue growth.
• The company's quarterly dividend, paid on August 29th, was $0.30 per share, representing a 0.4% yield.

Amundi cut its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 31.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 99,028 shares of the financial services provider's stock after selling 46,415 shares during the period. Amundi owned approximately 0.12% of LPL Financial worth $30,971,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. DAVENPORT & Co LLC grew its holdings in shares of LPL Financial by 8.9% in the first quarter. DAVENPORT & Co LLC now owns 1,918 shares of the financial services provider's stock valued at $627,000 after purchasing an additional 156 shares in the last quarter. Merit Financial Group LLC grew its holdings in shares of LPL Financial by 195.1% in the first quarter. Merit Financial Group LLC now owns 3,341 shares of the financial services provider's stock valued at $1,093,000 after purchasing an additional 2,209 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of LPL Financial by 8.8% in the first quarter. JPMorgan Chase & Co. now owns 1,304,780 shares of the financial services provider's stock valued at $426,846,000 after purchasing an additional 105,665 shares in the last quarter. Amalgamated Bank grew its holdings in shares of LPL Financial by 3.8% in the first quarter. Amalgamated Bank now owns 5,875 shares of the financial services provider's stock valued at $1,922,000 after purchasing an additional 213 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of LPL Financial by 2,319.1% in the first quarter. Blue Trust Inc. now owns 1,137 shares of the financial services provider's stock valued at $372,000 after purchasing an additional 1,090 shares in the last quarter. Institutional investors and hedge funds own 95.66% of the company's stock.

Analyst Ratings Changes

LPLA has been the subject of a number of research reports. Citigroup cut shares of LPL Financial from a "neutral" rating to a "sell" rating and set a $80.00 price objective for the company. in a report on Wednesday, July 9th. Barclays decreased their price target on shares of LPL Financial from $463.00 to $460.00 and set an "overweight" rating for the company in a research note on Tuesday, September 2nd. Morgan Stanley reiterated an "overweight" rating and issued a $490.00 price target (up previously from $450.00) on shares of LPL Financial in a research note on Tuesday, July 15th. Wall Street Zen downgraded shares of LPL Financial from a "buy" rating to a "hold" rating in a research note on Saturday, June 14th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of LPL Financial from $425.00 to $435.00 and gave the stock an "outperform" rating in a research note on Monday, August 4th. Ten research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $391.67.

Insider Activity at LPL Financial

In other news, Director Greg Gates sold 1,500 shares of the business's stock in a transaction that occurred 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 sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Aneri Jambusaria sold 80 shares of LPL Financial stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $361.25, for a total transaction of $28,900.00. Following the completion of the transaction, the director directly 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 disclosure for this sale can be found here. Insiders have sold a total of 4,580 shares of company stock valued at $1,671,235 in the last 90 days. Insiders own 1.30% of the company's stock.

LPL Financial Stock Up 0.8%

Shares of NASDAQ:LPLA traded up $2.91 during trading on Friday, hitting $350.62. 116,901 shares of the company were exchanged, compared to its average volume of 816,634. The stock has a market capitalization of $28.05 billion, a P/E ratio of 23.99, a PEG ratio of 0.80 and a beta of 0.66. 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 12-month low of $205.50 and a 12-month high of $403.58. The firm's 50 day moving average price is $368.35 and its 200-day moving average price is $354.09.

LPL Financial (NASDAQ:LPLA - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The financial services provider reported $4.51 earnings per share for the quarter, topping the consensus estimate of $4.21 by $0.30. The business had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.77 billion. LPL Financial had a net margin of 7.91% and a return on equity of 39.80%. The company's revenue was up 30.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.88 EPS. On average, research analysts predict 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 disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Friday, August 15th. LPL Financial's payout ratio is currently 8.21%.

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.