Founders Financial Alliance LLC Purchases Shares of 753 LPL Financial Holdings Inc. (NASDAQ:LPLA)

Key Points

• Founders Financial Alliance LLC has acquired 753 shares of LPL Financial Holdings Inc., valued at approximately $246,000, in the first quarter of the fiscal year.
• Analysts have mixed ratings for LPL Financial, with TD Cowen downgrading the stock from "strong-buy" to "hold," while Redburn Atlantic upgraded it from "neutral" to "buy" with a price target increase to $460.00.
• LPL Financial recently reported a quarterly earnings of $4.51 EPS, exceeding estimates, along with a 30.8% increase in revenue year-over-year.

Founders Financial Alliance LLC purchased a new stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 753 shares of the financial services provider's stock, valued at approximately $246,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Anchor Investment Management LLC raised its holdings in LPL Financial by 0.3% during the 4th quarter. Anchor Investment Management LLC now owns 9,697 shares of the financial services provider's stock worth $3,166,000 after buying an additional 28 shares during the period. Colonial Trust Co SC raised its holdings in LPL Financial by 6.1% during the 4th quarter. Colonial Trust Co SC now owns 505 shares of the financial services provider's stock worth $165,000 after buying an additional 29 shares during the period. United Capital Financial Advisors LLC raised its holdings in LPL Financial by 2.6% during the 4th quarter. United Capital Financial Advisors LLC now owns 1,203 shares of the financial services provider's stock worth $393,000 after buying an additional 31 shares during the period. Koshinski Asset Management Inc. raised its holdings in LPL Financial by 4.9% during the 1st quarter. Koshinski Asset Management Inc. now owns 812 shares of the financial services provider's stock worth $266,000 after buying an additional 38 shares during the period. Finally, Mariner LLC raised its holdings in LPL Financial by 0.3% during the 4th quarter. Mariner LLC now owns 12,611 shares of the financial services provider's stock worth $4,117,000 after buying an additional 39 shares during the period. 95.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on the company. TD Cowen downgraded LPL Financial from a "strong-buy" rating to a "hold" rating and cut their price objective for the stock from $406.00 to $403.00 in a report on Wednesday, July 9th. Redburn Atlantic upgraded LPL Financial from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $420.00 to $460.00 in a report on Monday, June 9th. Barclays boosted their price objective on LPL Financial from $460.00 to $463.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. JMP Securities upped their target price on LPL Financial from $420.00 to $440.00 and gave the company a "market outperform" rating in a report on Friday, May 9th. Finally, Wells Fargo & Company upped their target price on LPL Financial from $402.00 to $420.00 and gave the company an "overweight" rating in a report on Friday, July 11th. One research analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $383.58.

LPL Financial Trading Up 0.3%

Shares of NASDAQ LPLA opened at $369.84 on Friday. The stock has a market cap of $29.59 billion, a price-to-earnings ratio of 25.30, a PEG ratio of 0.87 and a beta of 0.66. The business has a 50 day simple moving average of $377.68 and a 200 day simple moving average of $355.83. LPL Financial Holdings Inc. has a 52 week low of $193.22 and a 52 week high of $403.58. The company has a debt-to-equity ratio of 1.41, a quick ratio of 2.31 and a current ratio of 3.22.

LPL Financial (NASDAQ:LPLA - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The financial services provider reported $4.51 EPS for the quarter, beating the consensus estimate of $4.21 by $0.30. The business had revenue of $3.84 billion during 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 firm's quarterly revenue was up 30.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.88 EPS. On average, research analysts predict that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.20 annualized dividend and a dividend yield of 0.3%. LPL Financial's payout ratio is presently 8.21%.

Insider Activity at LPL Financial

In related news, Director Greg Gates sold 1,500 shares of the business's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $374.05, for a total value of $561,075.00. Following the completion of the sale, the director owned 19,120 shares of the company's stock, valued at approximately $7,151,836. The trade was a 7.27% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.30% of the company's stock.

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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