Callan Family Office LLC Makes New $1.51 Million Investment in LPL Financial Holdings Inc. $LPLA

Key Points

• Callan Family Office LLC has made a new investment of approximately $1.51 million in LPL Financial Holdings Inc., acquiring 4,037 shares during the second quarter.
• LPL Financial reported a quarterly earnings per share of $4.51, surpassing analysts' expectations and showing a revenue increase of 30.8% year-over-year.
• The company recently declared a quarterly dividend of $0.30 per share, with an annualized yield of 0.4% and a low dividend payout ratio of 8.21%.

Callan Family Office LLC acquired a new position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,037 shares of the financial services provider's stock, valued at approximately $1,514,000.

A number of other hedge funds have also recently added to or reduced their stakes in LPLA. Summit Securities Group LLC bought a new stake in LPL Financial during the 1st quarter worth about $26,000. Millstone Evans Group LLC raised its holdings in LPL Financial by 123.1% during the 1st quarter. Millstone Evans Group LLC now owns 87 shares of the financial services provider's stock worth $28,000 after purchasing an additional 48 shares during the last quarter. Private Trust Co. NA raised its holdings in LPL Financial by 234.5% during the 1st quarter. Private Trust Co. NA now owns 97 shares of the financial services provider's stock worth $32,000 after purchasing an additional 68 shares during the last quarter. TCTC Holdings LLC raised its holdings in LPL Financial by 116.7% during the 1st quarter. TCTC Holdings LLC now owns 104 shares of the financial services provider's stock worth $34,000 after purchasing an additional 56 shares during the last quarter. Finally, Maseco LLP bought a new stake in LPL Financial during the 2nd quarter worth about $34,000. Institutional investors own 95.66% of the company's stock.

LPL Financial Stock Performance

Shares of NASDAQ:LPLA opened at $315.24 on Friday. The company has a market capitalization of $25.22 billion, a price-to-earnings ratio of 21.56, a P/E/G ratio of 0.74 and a beta of 0.61. The firm's 50 day simple moving average is $347.31 and its 200 day simple moving average is $353.26. 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 fifty-two week low of $242.94 and a fifty-two week high of $403.58.

LPL Financial (NASDAQ:LPLA - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The financial services provider reported $4.51 earnings per share for the quarter, beating analysts' consensus estimates of $4.21 by $0.30. The business had revenue of $3.84 billion for 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%. LPL Financial's revenue for the quarter was up 30.8% on a year-over-year basis. During the same period last year, the company posted $3.88 EPS. As a group, sell-side analysts forecast that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.4%. The ex-dividend date was Friday, August 15th. LPL Financial's dividend payout ratio (DPR) is 8.21%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Rothschild Redb cut LPL Financial from a "strong-buy" rating to a "hold" rating in a report on Friday, September 19th. Keefe, Bruyette & Woods boosted their price objective on LPL Financial from $425.00 to $435.00 and gave the stock an "outperform" rating in a report on Monday, August 4th. The Goldman Sachs Group assumed coverage on LPL Financial in a report on Friday, September 12th. They set a "buy" rating and a $405.00 price objective for the company. UBS Group set a $455.00 price objective on LPL Financial in a report on Thursday. Finally, Citigroup reissued an "outperform" rating on shares of LPL Financial in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $395.85.

Insider Activity at LPL Financial

In other LPL Financial news, Director Aneri Jambusaria sold 80 shares of the firm's stock in a transaction that occurred 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 sale, the director directly owned 5,582 shares in the company, valued at approximately $2,016,497.50. This trade represents a 1.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Greg Gates sold 750 shares of the firm's stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $314.42, for a total transaction of $235,815.00. Following the sale, the director owned 16,870 shares in the company, valued at $5,304,265.40. This trade represents a 4.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,830 shares of company stock worth $1,333,105 over the last 90 days. Corporate insiders own 1.30% of the company's stock.

LPL Financial Profile

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.

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