LPL Financial Holdings Inc. $LPLA Shares Sold by Bell Asset Management Ltd

Key Points

• Bell Asset Management cut its LPL Financial stake by 41.9% in the third quarter, selling 6,584 shares and retaining 9,116 shares valued at approximately $2.8 million.
• Institutional ownership remains high at 95.66%, with major investors including BlackRock, Jupiter Topco, and Bank of America initiating sizable positions. Insiders also sold 5,867 shares worth about $2.1 million during the quarter.
• Analysts maintain a favorable outlook, with 14 Buy ratings and three Holds producing a “Moderate Buy” consensus and an average price target of $411.31. LPL recently exceeded quarterly earnings and revenue estimates, reporting $5.84 EPS and $5.19 billion in revenue.

Bell Asset Management Ltd lessened its position in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 41.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,116 shares of the financial services provider's stock after selling 6,584 shares during the quarter. LPL Financial makes up about 1.0% of Bell Asset Management Ltd's portfolio, making the stock its 29th biggest position. Bell Asset Management Ltd's holdings in LPL Financial were worth $2,788,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of LPL Financial in the second quarter worth $1,333,189,000. Jupiter Topco LLC bought a new position in shares of LPL Financial in the 2nd quarter valued at about $1,182,595,000. SurgoCap Partners LP acquired a new stake in shares of LPL Financial in the second quarter valued at about $299,487,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of LPL Financial in the 2nd quarter valued at approximately $290,481,000. Finally, Bank of America Corp DE bought a new position in shares of LPL Financial in the second quarter valued at $229,756,000. Institutional investors own 95.66% of the company's stock.

Insider Activity at LPL Financial

In related news, Director Matthew Enyedi sold 1,000 shares of the business's stock in a transaction on Friday, July 31st. The shares were sold at an average price of $352.72, for a total transaction of $352,720.00. Following the transaction, the director owned 13,121 shares in the company, valued at $4,628,039.12. The trade was a 7.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Greg Gates sold 4,119 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $355.38, for a total transaction of $1,463,810.22. Following the transaction, the director directly owned 23,602 shares in the company, valued at approximately $8,387,678.76. This represents a 14.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 5,867 shares of company stock worth $2,079,664 over the last quarter. 0.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on LPLA shares. Truist Financial began coverage on LPL Financial in a research report on Tuesday, September 1st. They issued a "hold" rating and a $389.00 price objective for the company. UBS Group decreased their target price on LPL Financial from $391.00 to $390.00 and set a "buy" rating on the stock in a research report on Wednesday. Wells Fargo & Company assumed coverage on LPL Financial in a research note on Friday, October 2nd. They set an "overweight" rating and a $362.00 target price on the stock. Morgan Stanley lifted their price target on LPL Financial from $374.00 to $387.00 and gave the stock an "overweight" rating in a report on Friday, July 10th. Finally, Capital One Financial set a $370.00 price target on LPL Financial in a research note on Tuesday. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $411.31.

LPL Financial Price Performance

Shares of LPLA opened at $328.00 on Friday. The company has a market capitalization of $25.83 billion, a price-to-earnings ratio of 26.16, a price-to-earnings-growth ratio of 0.55 and a beta of 0.53. LPL Financial Holdings Inc. has a 1 year low of $260.15 and a 1 year high of $400.16. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.39 and a quick ratio of 2.39. The business has a 50-day moving average of $346.37 and a 200-day moving average of $319.04.

LPL Financial (NASDAQ:LPLA - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The financial services provider reported $5.84 EPS for the quarter, beating analysts' consensus estimates of $5.39 by $0.45. LPL Financial had a net margin of 5.13% and a return on equity of 32.20%. The business had revenue of $5.19 billion for the quarter, compared to analysts' expectations of $5.04 billion. During the same quarter in the prior year, the firm posted $4.51 earnings per share. The business's quarterly revenue was up 35.2% compared to the same quarter last year. As a group, equities research analysts anticipate that LPL Financial Holdings Inc. will post 24.2 earnings per share for the current year.

LPL Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were paid a $0.30 dividend. The ex-dividend date was Friday, August 14th. This represents a $1.20 annualized dividend and a dividend yield of 0.4%. LPL Financial's payout ratio is currently 9.57%.

LPL Financial Profile

LPL Financial Holdings Inc is a financial services company that provides brokerage and investment advisory services through a network of independent financial advisors. Operating primarily in the United States, the company supports advisors who serve individuals, families, businesses and retirement plan participants.

LPL Financial's platform offers access to investment products and services, including equities, bonds, mutual funds, exchange-traded funds, insurance products, annuities and alternative investments.

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