Diversified Trust Co Has $3.05 Million Holdings in LPL Financial Holdings Inc. $LPLA

Key Points

• Diversified Trust Co increased its holdings in LPL Financial Holdings by 28.1% during Q2, owning a total of 8,132 shares valued at approximately $3.05 million.
• LPL Financial reported $4.51 earnings per share, exceeding expectations, with revenue of $3.84 billion for the quarter, up 30.8% from the previous year.
• The company recently declared a quarterly dividend of $0.30, representing an annualized yield of 0.4%, with a payout ratio of 8.21%.

Diversified Trust Co grew its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 28.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,132 shares of the financial services provider's stock after purchasing an additional 1,782 shares during the period. Diversified Trust Co's holdings in LPL Financial were worth $3,049,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Summit Securities Group LLC bought a new position in shares of LPL Financial in the first quarter valued at $26,000. Millstone Evans Group LLC grew its stake in shares of LPL Financial by 123.1% in the first quarter. Millstone Evans Group LLC now owns 87 shares of the financial services provider's stock valued at $28,000 after buying an additional 48 shares in the last quarter. Private Trust Co. NA grew its stake in shares of LPL Financial by 234.5% in the first quarter. Private Trust Co. NA now owns 97 shares of the financial services provider's stock valued at $32,000 after buying an additional 68 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in shares of LPL Financial by 63.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 100 shares of the financial services provider's stock valued at $33,000 after buying an additional 39 shares in the last quarter. Finally, City Holding Co. bought a new position in shares of LPL Financial in the first quarter valued at $34,000. 95.66% of the stock is currently owned by institutional investors and hedge funds.

LPL Financial Stock Performance

NASDAQ:LPLA opened at $335.75 on Friday. The stock has a market cap of $26.86 billion, a P/E ratio of 22.97, a price-to-earnings-growth ratio of 0.78 and a beta of 0.66. The company has a current ratio of 3.22, a quick ratio of 3.22 and a debt-to-equity ratio of 1.41. The stock's 50-day moving average is $363.42 and its 200-day moving average is $353.36. LPL Financial Holdings Inc. has a 1-year low of $214.57 and a 1-year high of $403.58.

LPL Financial (NASDAQ:LPLA - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The financial services provider reported $4.51 earnings per share for the quarter, topping the consensus estimate of $4.21 by $0.30. The company had revenue of $3.84 billion for the quarter, compared to analysts' expectations of $3.77 billion. LPL Financial had a return on equity of 39.80% and a net margin of 7.91%.The business's quarterly revenue was up 30.8% compared to the same quarter last year. During the same period in the previous year, the business posted $3.88 earnings per share. Equities research analysts anticipate that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Announces Dividend

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

Insider Activity at LPL Financial

In other LPL Financial news, Director Aneri Jambusaria sold 80 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $361.25, for a total value of $28,900.00. Following the transaction, the director directly owned 5,582 shares of the company's stock, valued at approximately $2,016,497.50. The trade was a 1.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Greg Gates sold 1,500 shares of the business's stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $338.21, for a total value of $507,315.00. Following the completion of the transaction, the director directly owned 17,620 shares in the company, valued at approximately $5,959,260.20. This trade represents a 7.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,580 shares of company stock worth $1,671,235 over the last quarter. 1.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on LPLA shares. TD Cowen cut shares of LPL Financial from a "strong-buy" rating to a "hold" rating and decreased their target price for the company from $406.00 to $403.00 in a research note on Wednesday, July 9th. Rothschild Redb downgraded LPL Financial from a "strong-buy" rating to a "hold" rating in a report on Friday. Redburn Atlantic raised LPL Financial from a "neutral" rating to a "buy" rating and raised their price target for the company from $420.00 to $460.00 in a report on Monday, June 9th. Keefe, Bruyette & Woods raised their price target on LPL Financial from $425.00 to $435.00 and gave the company an "outperform" rating in a report on Monday, August 4th. Finally, Wells Fargo & Company raised their price target on LPL Financial from $402.00 to $420.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Ten analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $391.54.

LPL Financial Company 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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