LPL Financial Holdings Inc. $LPLA Shares Sold by Reinhart Partners LLC.

Key Points

• Reinhart Partners LLC cut its LPL Financial stake by 25.9% in the fourth quarter, selling 7,289 shares and leaving it with 20,876 shares valued at about $7.46 million.
• LPL Financial reported better-than-expected Q1 earnings of $5.60 per share, topping estimates, while revenue rose 34.6% year over year to $4.94 billion.
• The company declared a quarterly dividend of $0.30 per share, and analysts remain broadly positive with a consensus rating of Moderate Buy and an average price target of $398.86.

Reinhart Partners LLC. reduced its position in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 25.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,876 shares of the financial services provider's stock after selling 7,289 shares during the period. Reinhart Partners LLC.'s holdings in LPL Financial were worth $7,457,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of LPLA. NewEdge Advisors LLC lifted its stake in shares of LPL Financial by 42.7% in the 1st quarter. NewEdge Advisors LLC now owns 3,525 shares of the financial services provider's stock valued at $1,153,000 after purchasing an additional 1,055 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of LPL Financial by 0.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 209,126 shares of the financial services provider's stock valued at $68,414,000 after purchasing an additional 1,089 shares in the last quarter. Woodline Partners LP acquired a new position in shares of LPL Financial in the 1st quarter valued at about $1,636,000. Focus Partners Wealth lifted its stake in shares of LPL Financial by 12.2% in the 1st quarter. Focus Partners Wealth now owns 4,360 shares of the financial services provider's stock valued at $1,426,000 after purchasing an additional 473 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new position in shares of LPL Financial in the 1st quarter valued at about $121,000. 95.66% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Matthew J. Audette sold 1,110 shares of the business's stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $330.01, for a total value of $366,311.10. Following the completion of the sale, the chief financial officer directly owned 19,803 shares in the company, valued at approximately $6,535,188.03. The trade was a 5.31% decrease in their position. The sale 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 Marc Eliot Cohen sold 1,088 shares of the business's stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $309.72, for a total value of $336,975.36. Following the completion of the sale, the director owned 4,400 shares of the company's stock, valued at $1,362,768. This trade represents a 19.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 4,879 shares of company stock valued at $1,538,826 over the last quarter. Company insiders own 0.60% of the company's stock.

LPL Financial Price Performance

LPLA stock opened at $272.52 on Wednesday. The company has a quick ratio of 2.56, a current ratio of 2.56 and a debt-to-equity ratio of 1.26. LPL Financial Holdings Inc. has a 52-week low of $260.15 and a 52-week high of $403.58. The stock's 50 day moving average is $303.97 and its two-hundred day moving average is $334.18. The company has a market capitalization of $21.80 billion, a PE ratio of 24.33, a P/E/G ratio of 0.57 and a beta of 0.50.

LPL Financial (NASDAQ:LPLA - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The financial services provider reported $5.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.49 by $0.11. LPL Financial had a return on equity of 31.26% and a net margin of 4.93%.The company had revenue of $4.94 billion for the quarter, compared to the consensus estimate of $4.98 billion. During the same period in the previous year, the business earned $5.15 EPS. LPL Financial's revenue for the quarter was up 34.6% compared to the same quarter last year. Analysts predict that LPL Financial Holdings Inc. will post 22.98 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Thursday, May 21st. LPL Financial's payout ratio is 10.71%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Keefe, Bruyette & Woods assumed coverage on LPL Financial in a research note on Wednesday, April 8th. They issued an "outperform" rating and a $350.00 price objective on the stock. UBS Group lifted their price objective on LPL Financial from $380.00 to $395.00 and gave the company a "buy" rating in a research note on Friday, May 1st. Jefferies Financial Group reduced their price objective on LPL Financial from $464.00 to $383.00 and set a "buy" rating on the stock in a research note on Monday, April 6th. JPMorgan Chase & Co. reduced their price objective on LPL Financial from $396.00 to $390.00 and set an "overweight" rating on the stock in a research note on Friday, May 1st. Finally, TD Cowen reduced their price target on LPL Financial from $330.00 to $326.00 and set a "hold" rating on the stock in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $398.86.

LPL Financial Profile

LPL Financial NASDAQ: LPLA is a U.S.-focused financial services firm that provides brokerage, custodial and advisory platforms to independent financial advisors, registered investment advisers and institutions. Operating primarily as an independent broker-dealer and custodian, the company supports a network of advisors with the operational, compliance and clearing infrastructure needed to manage client accounts and deliver investment advice outside of traditional wirehouse models.

The firm's product and service offerings include trade execution and clearing, custody services, retirement plan services, model portfolio and advisory platforms, wealth management technology, investment research and product access across equities, fixed income, mutual funds, exchange-traded funds and insurance and annuity solutions.

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