Logan Capital Management Inc. Sells 957 Shares of LPL Financial Holdings Inc. $LPLA

Key Points

• Logan Capital Management Inc. has decreased its stake in LPL Financial Holdings by 2.3%, owning 40,276 shares valued at approximately $13.18 million after the reduction.
• LPL Financial reported an earnings per share of $4.51 for the latest quarter, surpassing analysts' estimates and demonstrating a 30.8% year-over-year revenue growth.
• The company recently declared a quarterly dividend of $0.30, resulting in an annualized yield of 0.4% and reflecting a low dividend payout ratio of 8.21%.

Logan Capital Management Inc. decreased its position in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 2.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,276 shares of the financial services provider's stock after selling 957 shares during the quarter. Logan Capital Management Inc. owned 0.05% of LPL Financial worth $13,176,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Voleon Capital Management LP increased its position in shares of LPL Financial by 87.6% in the first quarter. Voleon Capital Management LP now owns 13,056 shares of the financial services provider's stock valued at $4,271,000 after acquiring an additional 6,096 shares during the last quarter. Goldman Sachs Group Inc. increased its position in LPL Financial by 0.5% during the first quarter. Goldman Sachs Group Inc. now owns 209,126 shares of the financial services provider's stock worth $68,414,000 after buying an additional 1,089 shares during the last quarter. Jones Financial Companies Lllp increased its position in LPL Financial by 34,155.8% during the first quarter. Jones Financial Companies Lllp now owns 47,273 shares of the financial services provider's stock worth $15,465,000 after buying an additional 47,135 shares during the last quarter. Palestra Capital Management LLC boosted its holdings in shares of LPL Financial by 21.6% during the first quarter. Palestra Capital Management LLC now owns 399,210 shares of the financial services provider's stock worth $130,598,000 after acquiring an additional 70,924 shares during the period. Finally, Petrus Trust Company LTA boosted its holdings in shares of LPL Financial by 57.1% during the first quarter. Petrus Trust Company LTA now owns 2,072 shares of the financial services provider's stock worth $678,000 after acquiring an additional 753 shares during the period. Institutional investors and hedge funds own 95.66% of the company's stock.

Wall Street Analysts Forecast Growth

LPLA has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods boosted their price objective on LPL Financial from $425.00 to $435.00 and gave the stock an "outperform" rating in a report on Monday, August 4th. Morgan Stanley reiterated an "overweight" rating and issued a $490.00 price target (up from $450.00) on shares of LPL Financial in a research note on Tuesday, July 15th. Redburn Atlantic upgraded LPL Financial from a "neutral" rating to a "buy" rating and boosted their price target for the company from $420.00 to $460.00 in a research note on Monday, June 9th. Wells Fargo & Company boosted their price target on LPL Financial from $402.00 to $420.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Finally, Wall Street Zen cut LPL Financial from a "buy" rating to a "hold" rating in a research note on Saturday, June 14th. Ten analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $391.67.

LPL Financial Trading Up 0.8%

LPL Financial stock traded up $2.93 during trading hours on Friday, reaching $350.64. 589,143 shares of the company's stock were exchanged, compared to its average volume of 770,953. The company has a quick ratio of 3.22, a current ratio of 3.22 and a debt-to-equity ratio of 1.41. The firm's 50 day simple moving average is $367.68 and its 200 day simple moving average is $353.98. LPL Financial Holdings Inc. has a twelve month low of $205.50 and a twelve month high of $403.58. The firm has a market capitalization of $28.05 billion, a PE ratio of 23.98, a PEG ratio of 0.81 and a beta of 0.66.

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

LPL Financial Dividend Announcement

The firm 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. This represents a $1.20 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Friday, August 15th. LPL Financial's payout ratio is currently 8.21%.

Insider Buying and Selling

In other news, Director Aneri Jambusaria sold 80 shares of LPL Financial stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $361.25, for a total transaction of $28,900.00. Following the completion of the sale, the director directly owned 5,582 shares of the company's stock, valued at approximately $2,016,497.50. The trade was a 1.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Greg Gates sold 1,500 shares of LPL Financial stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $374.05, for a total transaction of $561,075.00. Following the sale, the director directly owned 19,120 shares of the company's stock, valued at $7,151,836. This represents a 7.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,580 shares of company stock valued at $1,671,235 over the last quarter. 1.30% of the stock is owned by company insiders.

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.