Corient Private Wealth LP Purchases New Stake in LPL Financial Holdings Inc. $LPLA

Key Points

• Corient Private Wealth acquired 30,811 LPL Financial shares during the second quarter, valued at approximately $8.68 million. Institutional investors and hedge funds collectively own 95.66% of the company.
• Wall Street sentiment remains positive: 12 analysts rate LPL Financial a Buy and four rate it a Hold, producing a “Moderate Buy” consensus and an average price target of $406.69.
• LPL Financial exceeded quarterly expectations, reporting $5.84 in earnings per share and $5.19 billion in revenue, with revenue up 35.2% year over year. The company also paid a quarterly dividend of $0.30 per share.

Corient Private Wealth LP acquired a new stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 30,811 shares of the financial services provider's stock, valued at approximately $8,679,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Osterweis Capital Management Inc. bought a new position in shares of LPL Financial during the second quarter worth about $26,000. Clearstead Advisors LLC grew its stake in LPL Financial by 3,650.0% in the fourth quarter. Clearstead Advisors LLC now owns 75 shares of the financial services provider's stock worth $27,000 after purchasing an additional 73 shares in the last quarter. Core Wealth Advisors LLC bought a new stake in LPL Financial in the fourth quarter valued at about $36,000. Physician Wealth Advisors Inc. increased its holdings in LPL Financial by 580.0% in the first quarter. Physician Wealth Advisors Inc. now owns 136 shares of the financial services provider's stock valued at $41,000 after buying an additional 116 shares during the last quarter. Finally, Graney & King LLC raised its stake in LPL Financial by 49.5% during the second quarter. Graney & King LLC now owns 139 shares of the financial services provider's stock valued at $52,000 after buying an additional 46 shares in the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on LPLA shares. Keefe, Bruyette & Woods increased their target price on LPL Financial from $365.00 to $390.00 and gave the stock an "outperform" rating in a report on Friday, July 31st. Barclays boosted their price target on LPL Financial from $394.00 to $401.00 and gave the company an "overweight" rating in a report on Friday, July 31st. JPMorgan Chase & Co. upped their price target on LPL Financial from $408.00 to $428.00 and gave the company an "overweight" rating in a research report on Friday, July 31st. TD Cowen raised their price objective on LPL Financial from $330.00 to $372.00 and gave the stock a "hold" rating in a research note on Friday, July 31st. Finally, Morgan Stanley lifted their price objective on shares of LPL Financial from $374.00 to $387.00 and gave the stock an "overweight" rating in a report on Friday, July 10th. Twelve investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, LPL Financial has an average rating of "Moderate Buy" and a consensus price target of $406.69.

Insider Buying and Selling

In related news, Director Aneri Jambusaria sold 308 shares of the company's stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $306.00, for a total transaction of $94,248.00. Following the completion of the transaction, the director directly owned 6,415 shares in the company, valued at $1,962,990. This represents a 4.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 stock in a transaction on Friday, July 31st. The stock was sold at an average price of $352.72, for a total value of $352,720.00. Following the completion of the sale, the director directly owned 13,121 shares in the company, valued at $4,628,039.12. This represents a 7.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 5,427 shares of company stock worth $1,910,778 in the last three months. 0.60% of the stock is owned by insiders.

LPL Financial Stock Performance

Shares of NASDAQ LPLA opened at $370.69 on Monday. 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 firm's 50-day moving average price is $333.13 and its two-hundred day moving average price is $314.67. LPL Financial Holdings Inc. has a 52-week low of $260.15 and a 52-week high of $400.16. The stock has a market capitalization of $29.19 billion, a P/E ratio of 29.56, a P/E/G ratio of 0.62 and a beta of 0.48.

LPL Financial (NASDAQ:LPLA - Get Free Report) last posted its earnings results on Thursday, July 30th. The financial services provider reported $5.84 EPS for the quarter, beating the consensus estimate of $5.39 by $0.45. The company had revenue of $5.19 billion during the quarter, compared to analyst estimates of $5.04 billion. LPL Financial had a return on equity of 32.20% and a net margin of 5.13%.The business's revenue was up 35.2% compared to the same quarter last year. During the same period in the prior year, the company earned $4.51 earnings per share. As a group, sell-side analysts forecast that LPL Financial Holdings Inc. will post 24.09 earnings per share for the current year.

LPL Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were given a dividend of $0.30 per share. The ex-dividend date was Friday, August 14th. This represents a $1.20 dividend on an annualized basis and a yield of 0.3%. LPL Financial's payout ratio is currently 9.57%.

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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