LPL Financial Holdings Inc. $LPLA Shares Sold by Foster Victor Wealth Advisors LLC

Key Points

• Foster Victor Wealth Advisors reduced its LPL Financial stake by 11.9% in the third quarter, selling 6,255 shares and retaining 46,192 shares valued at approximately $14.6 million. Institutional investors collectively own 95.66% of the company.
• Several other institutions increased or initiated positions, while insiders sold 5,867 shares worth about $2.08 million over the past three months. Directors Aneri Jambusaria and Greg Gates made sales under a pre-arranged trading plan.
• Analysts maintain a generally positive outlook, with 14 Buy ratings and three Holds producing a “Moderate Buy” consensus and a $409.69 target price. LPL also exceeded quarterly earnings and revenue estimates, reporting $5.84 in EPS and $5.19 billion in revenue, up 35.2% year over year.

Foster Victor Wealth Advisors LLC cut its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 11.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 46,192 shares of the financial services provider's stock after selling 6,255 shares during the quarter. Foster Victor Wealth Advisors LLC owned approximately 0.06% of LPL Financial worth $14,604,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Axxcess Wealth Management LLC bought a new position in shares of LPL Financial during the 3rd quarter worth approximately $434,000. Crossmark Global Holdings Inc. boosted its stake in shares of LPL Financial by 6.5% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 757 shares of the financial services provider's stock worth $231,000 after buying an additional 46 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of LPL Financial by 675.4% in the third quarter. Nisa Investment Advisors LLC now owns 8,808 shares of the financial services provider's stock valued at $2,693,000 after acquiring an additional 7,672 shares in the last quarter. Integrated Advisors Network LLC bought a new position in shares of LPL Financial in the third quarter valued at approximately $203,000. Finally, Net Worth Advisory Group bought a new position in shares of LPL Financial in the third quarter valued at approximately $222,000. 95.66% of the stock is owned by institutional investors.

Insider Transactions at LPL Financial

In other news, Director Aneri Jambusaria sold 308 shares of the stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $357.36, for a total transaction of $110,066.88. Following the completion of the transaction, the director owned 6,107 shares in the company, valued at approximately $2,182,397.52. This represents a 4.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 value of $1,463,810.22. Following the transaction, the director owned 23,602 shares of the company's stock, valued at $8,387,678.76. The trade was a 14.86% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 5,867 shares of company stock valued at $2,079,664. Corporate insiders own 0.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on LPLA shares. BMO Capital Markets decreased their price target on LPL Financial from $390.00 to $370.00 and set an "outperform" rating for the company in a research report on Tuesday, October 6th. Bank of America cut their price objective on LPL Financial from $557.00 to $554.00 and set a "buy" rating on the stock in a research report on Monday, October 5th. Weiss Ratings restated a "hold (c)" rating on shares of LPL Financial in a research note on Friday, July 24th. Wells Fargo & Company began coverage on LPL Financial in a research report on Friday, October 2nd. They set an "overweight" rating and a $362.00 target price for the company. Finally, Wolfe Research reiterated an "outperform" rating and set a $454.00 target price on shares of LPL Financial in a research note on Wednesday, August 12th. Fourteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, LPL Financial currently has an average rating of "Moderate Buy" and a consensus target price of $409.69.

LPL Financial Trading Down 0.3%

NASDAQ:LPLA opened at $321.03 on Thursday. The company has a current ratio of 2.39, a quick ratio of 2.39 and a debt-to-equity ratio of 1.30. The stock has a market capitalization of $25.28 billion, a PE ratio of 25.60, a price-to-earnings-growth ratio of 0.55 and a beta of 0.53. The firm's 50 day moving average is $339.32 and its 200 day moving average is $320.67. LPL Financial Holdings Inc. has a 12 month low of $260.15 and a 12 month high of $400.16.

LPL Financial (NASDAQ:LPLA - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $5.84 EPS for the quarter, beating the consensus estimate of $5.39 by $0.45. LPL Financial had a return on equity of 32.20% and a net margin of 5.13%. The business had revenue of $5.19 billion for the quarter, compared to the consensus estimate of $5.04 billion. During the same quarter in the prior year, the business earned $4.51 earnings per share. LPL Financial's revenue for the quarter was up 35.2% on a year-over-year basis. Sell-side analysts expect that LPL Financial Holdings Inc. will post 23.83 earnings per share for the current year.

About LPL Financial

LPL Financial Holdings Inc is a financial services company that supports independent financial advisors and institutions across the United States. Through its primary subsidiary, LPL Financial LLC, the company provides brokerage, investment advisory, and custodial services, enabling advisors to serve individual investors, families, retirement plans, and other clients.

LPL's platform includes access to brokerage and advisory products, securities clearing and custody, trading and operations support, technology, compliance services, investment research, and practice-management resources.

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