LPL Financial Holdings Inc. $LPLA Holdings Boosted by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC increased its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 12.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,009 shares of the financial services provider's stock after buying an additional 992 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in LPL Financial were worth $3,460,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in LPLA. Voloridge Investment Management LLC bought a new position in shares of LPL Financial in the fourth quarter valued at approximately $799,000. B. Riley Wealth Advisors Inc. bought a new position in LPL Financial during the 4th quarter valued at $205,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in LPL Financial during the 4th quarter valued at $6,821,000. Siemens Fonds Invest GmbH bought a new position in LPL Financial during the 4th quarter valued at $271,000. Finally, 111 Capital bought a new position in LPL Financial during the 4th quarter valued at $358,000. 95.66% of the stock is currently owned by institutional investors and hedge funds.

LPL Financial Stock Up 1.2%

Shares of LPLA opened at $340.52 on Friday. The stock has a market cap of $27.24 billion, a price-to-earnings ratio of 23.29, a P/E/G ratio of 0.79 and a beta of 0.66. The company has a quick ratio of 3.22, a current ratio of 3.22 and a debt-to-equity ratio of 1.41. LPL Financial Holdings Inc. has a 12 month low of $222.74 and a 12 month high of $403.58. The company has a 50-day moving average price of $359.61 and a two-hundred day moving average price of $353.63.

LPL Financial (NASDAQ:LPLA - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The financial services provider reported $4.51 EPS for the quarter, topping analysts' consensus estimates 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 39.80%. The company's revenue for the quarter was up 30.8% compared to the same quarter last year. During the same quarter last year, the company earned $3.88 earnings per share. Equities analysts predict that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were issued a $0.30 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.4%. LPL Financial's dividend payout ratio (DPR) is currently 8.21%.

Insider Buying and Selling

In other LPL Financial news, Director Aneri Jambusaria sold 80 shares of the company's 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 owned 5,582 shares in the company, valued at approximately $2,016,497.50. The trade was a 1.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Greg Gates sold 1,500 shares of the firm's stock in a transaction on Friday, September 5th. The stock was sold at an average price of $338.21, for a total value of $507,315.00. Following the sale, the director directly owned 17,620 shares in the company, valued at $5,959,260.20. The trade was a 7.85% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 4,580 shares of company stock valued at $1,671,235. 1.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Barclays decreased their price target on LPL Financial from $463.00 to $460.00 and set an "overweight" rating for the company in a research note on Tuesday, September 2nd. Morgan Stanley reiterated an "overweight" rating and set a $490.00 price objective (up previously from $450.00) on shares of LPL Financial in a research report on Tuesday, July 15th. TD Cowen downgraded LPL Financial from a "strong-buy" rating to a "hold" rating and cut their price objective for the company from $406.00 to $403.00 in a research report on Wednesday, July 9th. Rothschild & Co Redburn cut shares of LPL Financial from a "buy" rating to a "neutral" rating and set a $390.00 price objective on the stock. in a research report on Friday, September 19th. Finally, Redburn Atlantic upgraded shares of 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 research report on Monday, June 9th. Ten investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $391.54.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.