Amundi Sells 44,978 Shares of LPL Financial Holdings Inc. $LPLA

Key Points

• Amundi reduced its LPL Financial stake by 26.3% in the first quarter, selling 44,978 shares and retaining 125,776 shares worth approximately $37.8 million. Institutional investors collectively own 95.66% of the company.
• LPL Financial reported stronger-than-expected quarterly results, with earnings of $5.84 per share versus the $5.39 estimate and revenue of $5.19 billion, up 35.2% year over year.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $408.54, while the company declared a quarterly dividend of $0.30 per share, representing a 0.3% yield.

Amundi cut its position in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 26.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 125,776 shares of the financial services provider's stock after selling 44,978 shares during the period. Amundi owned approximately 0.16% of LPL Financial worth $37,837,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Goldstein Advisors LLC boosted its stake in LPL Financial by 4.8% during the 4th quarter. Goldstein Advisors LLC now owns 634 shares of the financial services provider's stock valued at $226,000 after purchasing an additional 29 shares during the last quarter. Coastal Bridge Advisors LLC raised its stake in shares of LPL Financial by 0.6% in the fourth quarter. Coastal Bridge Advisors LLC now owns 5,475 shares of the financial services provider's stock worth $1,956,000 after purchasing an additional 31 shares during the last quarter. Natural Investments LLC lifted its holdings in shares of LPL Financial by 4.8% during the fourth quarter. Natural Investments LLC now owns 727 shares of the financial services provider's stock valued at $259,000 after purchasing an additional 33 shares in the last quarter. Root Financial Partners LLC lifted its holdings in shares of LPL Financial by 1.4% during the fourth quarter. Root Financial Partners LLC now owns 2,318 shares of the financial services provider's stock valued at $828,000 after purchasing an additional 33 shares in the last quarter. Finally, Lifestyle Asset Management Inc. boosted its position in shares of LPL Financial by 2.9% during the fourth quarter. Lifestyle Asset Management Inc. now owns 1,191 shares of the financial services provider's stock valued at $425,000 after buying an additional 34 shares during the last quarter. Institutional investors own 95.66% of the company's stock.

LPL Financial Price Performance

NASDAQ LPLA opened at $360.35 on Tuesday. The business's fifty day moving average is $303.25 and its 200 day moving average is $315.90. LPL Financial Holdings Inc. has a fifty-two week low of $260.15 and a fifty-two week high of $400.16. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.56 and a current ratio of 2.56. The company has a market capitalization of $28.82 billion, a PE ratio of 28.74, a price-to-earnings-growth ratio of 0.68 and a beta of 0.48.

LPL Financial (NASDAQ:LPLA - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The financial services provider reported $5.84 EPS for the quarter, topping analysts' consensus estimates of $5.39 by $0.45. LPL Financial had a return on equity of 32.80% and a net margin of 5.13%.The business had revenue of $5.19 billion during the quarter, compared to analysts' expectations of $5.04 billion. During the same quarter in the prior year, the business posted $4.51 earnings per share. The business's quarterly revenue was up 35.2% on a year-over-year basis. Sell-side analysts predict that LPL Financial Holdings Inc. will post 23.58 earnings per share for the current year.

LPL Financial Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Weiss Ratings reiterated a "hold (c)" rating on shares of LPL Financial in a report on Friday, July 24th. TD Cowen raised their price target on shares of LPL Financial from $330.00 to $372.00 and gave the company a "hold" rating in a report on Friday. William Blair reaffirmed an "outperform" rating on shares of LPL Financial in a report on Thursday, June 4th. Morgan Stanley lifted their price target on shares of LPL Financial from $374.00 to $387.00 and gave the stock an "overweight" rating in a research note on Friday, July 10th. Finally, Jefferies Financial Group lowered their price objective on shares of LPL Financial from $464.00 to $383.00 and set a "buy" rating on the stock in a research report on Monday, April 6th. Eleven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, LPL Financial currently has a consensus rating of "Moderate Buy" and an average target price of $408.54.

Insider Buying and Selling

In other LPL Financial news, Director Aneri Jambusaria sold 308 shares of the firm's stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $306.00, for a total transaction of $94,248.00. Following the sale, the director owned 6,415 shares in the company, valued at approximately $1,962,990. This trade represents a 4.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.60% of the company's stock.

LPL Financial Company 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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