Jackson Wealth Management LLC Makes New Investment in LPL Financial Holdings Inc. $LPLA

Key Points

• Jackson Wealth Management LLC has acquired 5,921 shares of LPL Financial Holdings Inc., amounting to a new investment valued at approximately $2.22 million.
• Research analysts have issued mixed ratings for LPL Financial, with ten analysts recommending a buy, while changes in ratings from others include downgradings to hold or neutral.
• LPL Financial reported earnings of $4.51 per share for the last quarter, exceeding estimates and showing a revenue increase of 30.8% compared to the previous year.

Jackson Wealth Management LLC bought a new position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 5,921 shares of the financial services provider's stock, valued at approximately $2,220,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LPLA. Summit Securities Group LLC acquired a new position in shares of LPL Financial in the 1st quarter valued at about $26,000. Millstone Evans Group LLC lifted its stake in shares of LPL Financial by 123.1% in the 1st quarter. Millstone Evans Group LLC now owns 87 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 48 shares during the period. Private Trust Co. NA lifted its stake in shares of LPL Financial by 234.5% in the 1st quarter. Private Trust Co. NA now owns 97 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 68 shares during the period. City Holding Co. acquired a new position in shares of LPL Financial in the 1st quarter valued at about $34,000. Finally, TCTC Holdings LLC lifted its stake in shares of LPL Financial by 116.7% in the 1st quarter. TCTC Holdings LLC now owns 104 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 56 shares during the period. 95.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on LPLA shares. Wall Street Zen downgraded LPL Financial from a "buy" rating to a "hold" rating in a research note on Saturday, June 14th. Rothschild & Co Redburn downgraded LPL Financial from a "buy" rating to a "neutral" rating and set a $390.00 price objective on the stock. in a research note on Friday, September 19th. BMO Capital Markets began coverage on LPL Financial in a research report on Friday. They issued an "outperform" rating and a $365.00 target price for the company. Keefe, Bruyette & Woods boosted their target price on LPL Financial from $425.00 to $435.00 and gave the company an "outperform" rating in a research report on Monday, August 4th. Finally, Redburn Atlantic raised LPL Financial from a "neutral" rating to a "buy" rating and boosted their target price for the company from $420.00 to $460.00 in a research report on Monday, June 9th. Ten research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, LPL Financial currently has an average rating of "Moderate Buy" and an average price target of $395.77.

Insider Activity at LPL Financial

In related news, Director Greg Gates sold 1,500 shares of the company'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 transaction, the director 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Aneri Jambusaria sold 80 shares of the stock in a transaction 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 sale, the director owned 5,582 shares in the company, valued at approximately $2,016,497.50. This represents a 1.41% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,080 shares of company stock worth $1,097,290. 1.30% of the stock is owned by company insiders.

LPL Financial Stock Performance

Shares of LPLA opened at $314.73 on Friday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 3.22 and a current ratio of 3.22. The stock has a 50 day moving average price of $354.17 and a two-hundred day moving average price of $353.72. The firm has a market capitalization of $25.18 billion, a P/E ratio of 21.53, a P/E/G ratio of 0.73 and a beta of 0.61. LPL Financial Holdings Inc. has a 52 week low of $236.59 and a 52 week high of $403.58.

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

LPL Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were paid 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%.

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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