Bank Julius Baer & Co. Ltd Zurich acquired a new stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 6,844 shares of the financial services provider's stock, valued at approximately $2,093,000.
Other institutional investors also recently bought and sold shares of the company. Versant Capital Management Inc lifted its position in LPL Financial by 79.0% in the second quarter. Versant Capital Management Inc now owns 188 shares of the financial services provider's stock valued at $53,000 after purchasing an additional 83 shares during the period. Abound Financial LLC increased its position in LPL Financial by 9,550.0% during the 1st quarter. Abound Financial LLC now owns 193 shares of the financial services provider's stock worth $58,000 after purchasing an additional 191 shares during the period. Harbor Investment Advisory LLC acquired a new position in LPL Financial during the 2nd quarter worth approximately $59,000. Whipplewood Advisors LLC increased its position in LPL Financial by 1,260.0% during the 1st quarter. Whipplewood Advisors LLC now owns 204 shares of the financial services provider's stock worth $61,000 after purchasing an additional 189 shares during the period. Finally, Y.D. More Investments Ltd raised its stake in shares of LPL Financial by 250.0% during the 1st quarter. Y.D. More Investments Ltd now owns 210 shares of the financial services provider's stock worth $63,000 after buying an additional 150 shares in the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at LPL Financial
In other LPL Financial news, insider Katharine Reeping sold 440 shares of the company's stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $347.88, for a total value of $153,067.20. Following the sale, the insider owned 1,774 shares of the company's stock, valued at $617,139.12. This represents a 19.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Aneri Jambusaria sold 308 shares of the stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $357.36, for a total transaction of $110,066.88. Following the completion of the sale, the director owned 6,107 shares in the company, valued at $2,182,397.52. This represents a 4.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 4,867 shares of company stock valued at $1,726,944 over the last quarter. Corporate insiders own 0.60% of the company's stock.
Wall Street Analyst Weigh In
Several analysts have recently commented on the company. Citigroup reissued a "market outperform" rating on shares of LPL Financial in a report on Monday, October 5th. Citizens Jmp reaffirmed a "market outperform" rating and set a $500.00 price objective on shares of LPL Financial in a report on Monday, October 5th. Capital One Financial set a $370.00 price objective on LPL Financial in a report on Tuesday, October 6th. Wolfe Research reiterated an "outperform" rating and issued a $454.00 price objective on shares of LPL Financial in a research report on Wednesday, August 12th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of LPL Financial in a report on Thursday, October 22nd. Fourteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $400.60.
Check Out Our Latest Stock Analysis on LPL Financial
LPL Financial Stock Performance
NASDAQ LPLA opened at $297.66 on Wednesday. LPL Financial Holdings Inc. has a 1-year low of $260.15 and a 1-year high of $400.16. The company has a market capitalization of $23.18 billion, a P/E ratio of 13.19, a PEG ratio of 0.57 and a beta of 0.55. The business has a 50 day moving average price of $327.67 and a 200 day moving average price of $322.32. The company has a debt-to-equity ratio of 1.34, a current ratio of 2.62 and a quick ratio of 2.62.
LPL Financial (NASDAQ:LPLA - Get Free Report) last issued its quarterly earnings data on Tuesday, October 27th. The financial services provider reported $5.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.69 by $0.28. LPL Financial had a return on equity of 32.05% and a net margin of 6.83%. The firm had revenue of $5.34 billion during the quarter, compared to analysts' expectations of $5.35 billion. During the same period in the previous year, the firm posted $5.20 earnings per share. LPL Financial's revenue was up 17.4% on a year-over-year basis. Sell-side analysts expect that LPL Financial Holdings Inc. will post 23.45 EPS for the current fiscal year.
LPL Financial Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 30th. Shareholders of record on Thursday, November 12th will be given a dividend of $0.30 per share. The ex-dividend date is Thursday, November 12th. This represents a $1.20 dividend on an annualized basis and a yield of 0.4%. LPL Financial's payout ratio is presently 6.88%.
About LPL Financial
(
Free Report)
LPL Financial Holdings Inc is a financial services company that supports independent financial advisors and institutions across the United States. Through its primary subsidiary, LPL Financial LLC, the company provides brokerage, investment advisory, and custodial services, enabling advisors to serve individual investors, families, retirement plans, and other clients.
LPL's platform includes access to brokerage and advisory products, securities clearing and custody, trading and operations support, technology, compliance services, investment research, and practice-management resources.
Further Reading
Want to see what other hedge funds are holding LPLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report).
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