Gulf International Bank UK Ltd Sells 1,806 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Key Points

• Gulf International Bank UK Ltd reduced its holdings in LPL Financial Holdings Inc. by 29.7%, now owning 4,265 shares valued at approximately $1.4 million.
• LPL Financial recently reported earnings of $4.51 per share for the last quarter, surpassing estimates and showing a revenue increase of 30.8% year-over-year.
• The company declared a quarterly dividend of $0.30 per share, representing a yield of 0.3% and a payout ratio of 8.21%.

Gulf International Bank UK Ltd lessened its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 29.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,265 shares of the financial services provider's stock after selling 1,806 shares during the quarter. Gulf International Bank UK Ltd's holdings in LPL Financial were worth $1,395,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Colonial Trust Co SC lifted its position in shares of LPL Financial by 6.1% in the fourth quarter. Colonial Trust Co SC now owns 505 shares of the financial services provider's stock worth $165,000 after purchasing an additional 29 shares in the last quarter. United Capital Financial Advisors LLC lifted its position in shares of LPL Financial by 2.6% in the fourth quarter. United Capital Financial Advisors LLC now owns 1,203 shares of the financial services provider's stock worth $393,000 after purchasing an additional 31 shares in the last quarter. Koshinski Asset Management Inc. lifted its position in shares of LPL Financial by 4.9% in the first quarter. Koshinski Asset Management Inc. now owns 812 shares of the financial services provider's stock worth $266,000 after purchasing an additional 38 shares in the last quarter. Mariner LLC lifted its position in shares of LPL Financial by 0.3% in the fourth quarter. Mariner LLC now owns 12,611 shares of the financial services provider's stock worth $4,117,000 after purchasing an additional 39 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its position 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 worth $33,000 after purchasing an additional 39 shares in the last quarter. Institutional investors own 95.66% of the company's stock.

LPL Financial Price Performance

Shares of LPLA opened at $350.98 on Friday. The firm has a market capitalization of $28.08 billion, a PE ratio of 24.01, a PEG ratio of 0.83 and a beta of 0.66. The company's 50-day moving average is $375.53 and its 200-day moving average is $355.97. LPL Financial Holdings Inc. has a fifty-two week low of $204.41 and a fifty-two week high of $403.58. 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 (NASDAQ:LPLA - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The financial services provider reported $4.51 earnings per share for the quarter, beating the consensus estimate of $4.21 by $0.30. The company had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.77 billion. LPL Financial had a net margin of 7.91% and a return on equity of 39.80%. The company's revenue was up 30.8% on a year-over-year basis. During the same period in the prior year, the firm earned $3.88 earnings per share. Equities analysts forecast that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Dividend Announcement

The firm 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 is Friday, August 15th. This represents a $1.20 annualized dividend and a dividend yield of 0.3%. LPL Financial's dividend payout ratio is 8.21%.

Insider Activity at LPL Financial

In related news, Director Greg Gates sold 1,500 shares of the company's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $374.05, for a total value of $561,075.00. Following the transaction, the director directly owned 19,120 shares in the company, valued at approximately $7,151,836. This represents a 7.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on LPLA. Redburn Atlantic raised shares of 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 research report on Monday, June 9th. Morgan Stanley restated an "overweight" rating and set a $490.00 target price (up from $450.00) on shares of LPL Financial in a report on Tuesday, July 15th. Keefe, Bruyette & Woods boosted their target price on shares of LPL Financial from $425.00 to $435.00 and gave the stock an "outperform" rating in a report on Monday, August 4th. Wall Street Zen downgraded shares of LPL Financial from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. Finally, JMP Securities boosted their target price on shares of LPL Financial from $420.00 to $440.00 and gave the stock a "market outperform" rating in a report on Friday, May 9th. One equities 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. Based on data from MarketBeat.com, LPL Financial has an average rating of "Moderate Buy" and a consensus target price of $383.58.

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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