Jefferies Financial Group Inc. Has $654,000 Stock 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. lowered its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 88.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,000 shares of the financial services provider's stock after selling 15,400 shares during the quarter. Jefferies Financial Group Inc.'s holdings in LPL Financial were worth $654,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Millstone Evans Group LLC lifted its holdings in shares of LPL Financial by 123.1% during the 1st quarter. Millstone Evans Group LLC now owns 87 shares of the financial services provider's stock valued at $28,000 after buying an additional 48 shares during the last quarter. Private Trust Co. NA increased its position in LPL Financial by 234.5% in the 1st quarter. Private Trust Co. NA now owns 97 shares of the financial services provider's stock worth $32,000 after buying an additional 68 shares during the period. MassMutual Private Wealth & Trust FSB increased its position in 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 worth $33,000 after buying an additional 39 shares during the period. City Holding Co. bought a new stake in shares of LPL Financial during the first quarter valued at approximately $34,000. Finally, TCTC Holdings LLC grew its position in LPL Financial by 116.7% in the first quarter. TCTC Holdings LLC now owns 104 shares of the financial services provider's stock valued at $34,000 after acquiring an additional 56 shares during the period. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Greg Gates sold 1,500 shares of the firm'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 directly owned 19,120 shares of the company's stock, valued at $7,151,836. This trade represents a 7.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.30% of the stock is currently owned by insiders.

LPL Financial Stock Up 0.3%

Shares of NASDAQ:LPLA traded up $0.99 during mid-day trading on Friday, reaching $369.84. 528,160 shares of the stock were exchanged, compared to its average volume of 920,436. The company has a quick ratio of 2.31, a current ratio of 3.22 and a debt-to-equity ratio of 1.41. The company has a market cap of $29.59 billion, a P/E ratio of 25.30, a P/E/G ratio of 0.86 and a beta of 0.66. LPL Financial Holdings Inc. has a one year low of $193.22 and a one year high of $403.58. The stock's 50 day simple moving average is $377.68 and its 200-day simple moving average is $355.84.

LPL Financial (NASDAQ:LPLA - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The financial services provider reported $4.51 earnings per share (EPS) 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 business had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.77 billion. During the same period last year, the company earned $3.88 earnings per share. LPL Financial's quarterly revenue was up 30.8% on a year-over-year basis. As a group, equities research analysts predict that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Announces Dividend

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

Wall Street Analyst Weigh In

LPLA has been the topic of a number of recent analyst reports. Morgan Stanley reissued an "overweight" rating and issued a $490.00 price objective (up previously from $450.00) on shares of LPL Financial in a research note on Tuesday, July 15th. Wells Fargo & Company upped their price objective on LPL Financial from $402.00 to $420.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Barclays increased their price target on LPL Financial from $460.00 to $463.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. TD Cowen downgraded LPL Financial from a "strong-buy" rating to a "hold" rating and lowered their price target for the stock from $406.00 to $403.00 in a report on Wednesday, July 9th. Finally, Redburn Atlantic upgraded LPL Financial from a "neutral" rating to a "buy" rating and increased their price target for the stock from $420.00 to $460.00 in a report on Monday, June 9th. One investment 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's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price 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.