Jefferies Financial Group Inc. Reduces Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Key Points

• Jefferies Financial Group Inc. significantly reduced its holdings in LPL Financial Holdings Inc. by 88.5% during the 1st quarter, now owning only 2,000 shares valued at approximately $654,000.
• Several institutional investors have increased their positions in LPL Financial, with Millstone Evans Group LLC and Private Trust Co. NA raising their holdings by 123.1% and 234.5%, respectively, during the same period.
• LPL Financial reported strong earnings, with $4.51 per share for the last quarter, exceeding analysts' expectations, and announced a quarterly dividend of $0.30 per share to be paid on August 29th.

Jefferies Financial Group Inc. reduced its position in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 88.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 2,000 shares of the financial services provider's stock after selling 15,400 shares during the period. Jefferies Financial Group Inc.'s holdings in LPL Financial were worth $654,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in LPLA. Millstone Evans Group LLC lifted its holdings 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 last quarter. Private Trust Co. NA lifted its holdings 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 last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of LPL Financial by 63.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 100 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 39 shares during the last quarter. City Holding Co. purchased a new stake in shares of LPL Financial in the 1st quarter valued at about $34,000. Finally, TCTC Holdings LLC lifted its holdings 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 last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Greg Gates sold 1,500 shares of LPL Financial stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $382.63, for a total transaction of $573,945.00. Following the completion of the sale, the director directly owned 20,620 shares in the company, valued at approximately $7,889,830.60. This trade represents a 6.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.70% of the company's stock.

LPL Financial Trading Down 0.2%

NASDAQ LPLA opened at $373.94 on Wednesday. The stock has a market capitalization of $29.91 billion, a P/E ratio of 25.58, a P/E/G ratio of 0.89 and a beta of 0.66. LPL Financial Holdings Inc. has a 52-week low of $187.19 and a 52-week high of $403.58. The firm has a 50-day moving average price of $378.40 and a 200 day moving average price of $355.40. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 1.82.

LPL Financial (NASDAQ:LPLA - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The financial services provider reported $4.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.21 by $0.30. The firm had revenue of $3.84 billion during the quarter, compared to analysts' expectations of $3.77 billion. LPL Financial had a net margin of 7.91% and a return on equity of 47.01%. The firm's revenue for the quarter was up 30.8% on a year-over-year basis. During the same period in the prior year, the company posted $3.88 earnings per share. Equities research analysts expect that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Friday, August 15th. LPL Financial's dividend payout ratio (DPR) is presently 8.21%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on LPLA shares. Morgan Stanley reissued an "overweight" rating and issued a $490.00 target price (up from $450.00) on shares of LPL Financial in a report on Tuesday, July 15th. JMP Securities increased their target price on shares of LPL Financial from $420.00 to $440.00 and gave the stock a "market outperform" rating in a research note on Friday, May 9th. Keefe, Bruyette & Woods increased their target price on shares of LPL Financial from $425.00 to $435.00 and gave the stock an "outperform" rating in a research note on Monday. Wall Street Zen downgraded shares of LPL Financial from a "buy" rating to a "hold" rating in a research note on Saturday, June 14th. Finally, Barclays increased their target price on shares of LPL Financial from $460.00 to $463.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $383.58.

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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