Elevation Point Wealth Partners LLC Makes New $1.67 Million Investment in LPL Financial Holdings Inc. $LPLA

Key Points

• Elevation Point Wealth Partners acquired 5,927 LPL Financial shares worth approximately $1.67 million, while institutional investors collectively own 95.66% of the company.
• LPL Financial exceeded quarterly expectations, reporting $5.84 in EPS and $5.19 billion in revenue, with revenue rising 35.2% year over year.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $406.69 versus the stock’s reported $361.35 price; insiders, however, sold $1.91 million of shares during the last quarter.

Elevation Point Wealth Partners LLC purchased a new stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,927 shares of the financial services provider's stock, valued at approximately $1,669,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of LPLA. Osterweis Capital Management Inc. purchased a new position in shares of LPL Financial in the second quarter worth about $26,000. Clearstead Advisors LLC boosted 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 purchased a new stake in LPL Financial during the 4th quarter valued at about $36,000. Physician Wealth Advisors Inc. grew its position in LPL Financial by 580.0% during the 1st 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 during the last quarter. Finally, Graney & King LLC increased its stake in LPL Financial by 49.5% in the 2nd quarter. Graney & King LLC now owns 139 shares of the financial services provider's stock worth $52,000 after purchasing an additional 46 shares during the period. 95.66% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Aneri Jambusaria sold 308 shares of LPL Financial stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $306.00, for a total value of $94,248.00. Following the sale, the director 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Greg Gates sold 4,119 shares of the business's stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $355.38, for a total transaction of $1,463,810.22. Following the transaction, the director directly owned 23,602 shares in the company, valued at approximately $8,387,678.76. The trade was a 14.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 5,427 shares of company stock valued at $1,910,778 over the last quarter. 0.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

LPLA has been the subject of several recent research reports. Weiss Ratings reiterated a "hold (c)" rating on shares of LPL Financial in a research report on Friday, July 24th. Barclays raised their target price on shares of LPL Financial from $394.00 to $401.00 and gave the stock an "overweight" rating in a report on Friday, July 31st. Morgan Stanley lifted their target price on shares of LPL Financial from $374.00 to $387.00 and gave the stock an "overweight" rating in a research note on Friday, July 10th. Wolfe Research reiterated an "outperform" rating and set a $454.00 price target on shares of LPL Financial in a report on Wednesday, August 12th. Finally, Keefe, Bruyette & Woods increased their price target on shares of LPL Financial from $365.00 to $390.00 and gave the company an "outperform" rating in a research report on Friday, July 31st. Twelve equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $406.69.

LPL Financial Stock Performance

LPLA opened at $361.35 on Monday. The business has a 50 day simple moving average of $326.58 and a two-hundred day simple moving average of $315.44. The firm has a market capitalization of $28.45 billion, a price-to-earnings ratio of 28.82, a PEG ratio of 0.61 and a beta of 0.48. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.39 and a quick ratio of 2.39. LPL Financial Holdings Inc. has a one year low of $260.15 and a one year high of $400.16.

LPL Financial (NASDAQ:LPLA - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The financial services provider reported $5.84 earnings per share for the quarter, topping the consensus estimate of $5.39 by $0.45. The business had revenue of $5.19 billion during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter last year, the business posted $4.51 EPS. Analysts predict that LPL Financial Holdings Inc. will post 24.09 EPS for the current year.

LPL Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.20 dividend on an annualized basis and a yield of 0.3%. LPL Financial's dividend payout ratio (DPR) is presently 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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