Lbp Am Sa Buys 2,598 Shares of LPL Financial Holdings Inc. $LPLA

Key Points

• Lbp Am Sa increased its stake in LPL Financial Holdings by 11.8%, acquiring an additional 2,598 shares in the second quarter, totaling 24,571 shares valued at approximately $9.2 million.
• Insider transactions indicate that Director Greg Gates sold 1,500 shares for about $561,075, reflecting a 7.27% decrease in his position, while Aneri Jambusaria sold 80 shares valued at around $28,900.
• LPL Financial's recent quarterly earnings report exceeded expectations, with $4.51 EPS on $3.84 billion revenue, marking a 30.8% increase in revenue year-over-year.

Lbp Am Sa grew its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 11.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,571 shares of the financial services provider's stock after acquiring an additional 2,598 shares during the quarter. Lbp Am Sa's holdings in LPL Financial were worth $9,213,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Summit Securities Group LLC bought a new position in shares of LPL Financial during the first quarter valued at $26,000. Millstone Evans Group LLC increased its holdings in shares of LPL Financial by 123.1% during the first quarter. Millstone Evans Group LLC now owns 87 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 48 shares in the last quarter. Maseco LLP bought a new position in shares of LPL Financial during the second quarter valued at $34,000. Private Trust Co. NA increased its holdings in shares of LPL Financial by 234.5% during the first quarter. Private Trust Co. NA now owns 97 shares of the financial services provider's stock valued at $32,000 after acquiring an additional 68 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in shares of LPL Financial by 63.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 100 shares of the financial services provider's stock valued at $33,000 after acquiring an additional 39 shares in the last quarter. 95.66% of the stock is currently owned by institutional investors.

Insider Transactions at LPL Financial

In other news, Director Greg Gates sold 1,500 shares of LPL Financial stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $374.05, for a total transaction of $561,075.00. Following the transaction, the director directly owned 19,120 shares of the company's stock, valued at $7,151,836. The trade was a 7.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Aneri Jambusaria sold 80 shares of LPL Financial stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $361.25, for a total value of $28,900.00. Following the transaction, the director directly owned 5,582 shares in the company, valued at approximately $2,016,497.50. The trade was a 1.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,080 shares of company stock worth $1,097,290. Insiders own 1.30% of the company's stock.

LPL Financial Trading Down 4.7%

Shares of NASDAQ:LPLA opened at $317.00 on Thursday. The stock has a market capitalization of $25.36 billion, a price-to-earnings ratio of 21.68, a PEG ratio of 0.78 and a beta of 0.61. 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's 50-day simple moving average is $356.76 and its two-hundred day simple moving average is $353.91. LPL Financial Holdings Inc. has a 52-week low of $222.74 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 (EPS) for the quarter, topping the consensus estimate of $4.21 by $0.30. The business had revenue of $3.84 billion for 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 business's revenue for the quarter was up 30.8% on a year-over-year basis. During the same period last year, the firm posted $3.88 earnings per share. Analysts expect that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Friday, August 15th. LPL Financial's payout ratio is presently 8.21%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on LPLA shares. Rothschild Redb downgraded LPL Financial from a "strong-buy" rating to a "hold" rating in a report on Friday, September 19th. Citigroup downgraded LPL Financial from a "neutral" rating to a "sell" rating and set a $80.00 price objective for the company. in a report on Wednesday, July 9th. Redburn Atlantic upgraded LPL Financial from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $420.00 to $460.00 in a report on Monday, June 9th. TD Cowen downgraded LPL Financial from a "strong-buy" rating to a "hold" rating and reduced their price objective for the stock from $406.00 to $403.00 in a report on Wednesday, July 9th. Finally, Wall Street Zen downgraded LPL Financial from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. Ten investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $389.38.

About LPL Financial

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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