Callan Family Office LLC purchased a new stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 7,444 shares of the financial services provider's stock, valued at approximately $2,097,000.
A number of other institutional investors also recently modified their holdings of LPLA. Osterweis Capital Management Inc. bought a new position in LPL Financial in the 2nd quarter worth approximately $26,000. Clearstead Advisors LLC raised its holdings in LPL Financial by 3,650.0% during the 4th quarter. Clearstead Advisors LLC now owns 75 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 73 shares during the period. Core Wealth Advisors LLC bought a new stake in LPL Financial during the 4th quarter valued at $36,000. Physician Wealth Advisors Inc. lifted its position in shares of LPL Financial by 580.0% during the first quarter. Physician Wealth Advisors Inc. now owns 136 shares of the financial services provider's stock worth $41,000 after acquiring an additional 116 shares in the last quarter. Finally, Pinpoint Asset Management Singapore Pte. Ltd. purchased a new stake in shares of LPL Financial during the fourth quarter worth $50,000. 95.66% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other LPL Financial news, Director Aneri Jambusaria sold 308 shares of LPL Financial 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 completion of the sale, the director directly owned 6,415 shares in the company, valued at $1,962,990. The trade was a 4.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available 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 business's stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $352.72, for a total transaction of $352,720.00. Following the completion of the transaction, the director directly owned 13,121 shares of the company's stock, valued at approximately $4,628,039.12. This represents a 7.08% decrease in their position. 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. Over the last three months, insiders have sold 5,427 shares of company stock worth $1,910,778. Insiders own 0.60% of the company's stock.
LPL Financial Price Performance
LPL Financial stock opened at $361.35 on Friday. LPL Financial Holdings Inc. has a 52 week low of $260.15 and a 52 week high of $400.16. The business has a 50-day simple moving average of $326.58 and a 200 day simple moving average of $315.86. The company has a quick ratio of 2.39, a current ratio of 2.39 and a debt-to-equity ratio of 1.30. The stock has a market cap of $28.45 billion, a price-to-earnings ratio of 28.82, a PEG ratio of 0.61 and a beta of 0.48.
LPL Financial (NASDAQ:LPLA - Get Free Report) last announced its earnings results on Thursday, July 30th. The financial services provider reported $5.84 earnings per share for the quarter, topping 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 period in the prior year, the company earned $4.51 EPS. The company's quarterly revenue was up 35.2% compared to the same quarter last year. On average, research analysts forecast that LPL Financial Holdings Inc. will post 24.09 earnings per share for the current fiscal year.
LPL Financial Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.20 annualized dividend and a dividend yield of 0.3%. LPL Financial's payout ratio is presently 9.57%.
Wall Street Analyst Weigh In
LPLA has been the subject of several recent research reports. Barclays lifted their price target on LPL Financial from $394.00 to $401.00 and gave the company an "overweight" rating in a research report on Friday, July 31st. William Blair restated an "outperform" rating on shares of LPL Financial in a research note on Thursday, June 4th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of LPL Financial in a report on Friday, July 24th. UBS Group reduced their target price on LPL Financial from $395.00 to $391.00 and set a "buy" rating for the company in a report on Wednesday, July 8th. Finally, Morgan Stanley upped their price target on LPL Financial from $374.00 to $387.00 and gave the company an "overweight" rating in a research report on Friday, July 10th. Twelve investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $406.69.
Check Out Our Latest Research Report on LPL Financial
LPL Financial Company Profile
(
Free Report)
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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