LPL Financial Holdings Inc. $LPLA Shares Sold by Retireful LLC

Key Points

• Retireful LLC has reduced its holdings in LPL Financial Holdings Inc. by 36.6%, now owning 2,334 shares worth $875,000.
• LPL Financial reported a 30.8% year-over-year increase in quarterly revenue, totaling $3.84 billion, and earnings per share of $4.51, surpassing analyst estimates.
• The company declared a quarterly dividend of $0.30 per share, representing an annual yield of 0.4% and a payout ratio of 8.21%.

Retireful LLC trimmed its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 36.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,334 shares of the financial services provider's stock after selling 1,346 shares during the period. Retireful LLC's holdings in LPL Financial were worth $875,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Summit Securities Group LLC bought a new stake in shares of LPL Financial during the 1st quarter worth about $26,000. Millstone Evans Group LLC lifted its position in LPL Financial by 123.1% in the first quarter. Millstone Evans Group LLC now owns 87 shares of the financial services provider's stock worth $28,000 after purchasing an additional 48 shares during the period. Maseco LLP bought a new position in LPL Financial during the 2nd quarter valued at $34,000. Private Trust Co. NA increased its position in shares of LPL Financial by 234.5% during the 1st quarter. Private Trust Co. NA now owns 97 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 68 shares during the period. Finally, MassMutual Private Wealth & Trust FSB raised its stake in shares of LPL Financial by 63.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 100 shares of the financial services provider's stock worth $33,000 after buying an additional 39 shares in the last quarter. Institutional investors own 95.66% of the company's stock.

LPL Financial Price Performance

Shares of NASDAQ:LPLA opened at $333.18 on Thursday. The company has a market cap of $26.65 billion, a P/E ratio of 22.79, a price-to-earnings-growth ratio of 0.80 and a beta of 0.66. The company's fifty day moving average is $361.52 and its two-hundred day moving average is $353.27. 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 $222.63 and a 12-month high of $403.58.

LPL Financial (NASDAQ:LPLA - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The financial services provider reported $4.51 earnings per share for the quarter, beating analysts' consensus estimates of $4.21 by $0.30. The business had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.77 billion. LPL Financial had a return on equity of 39.80% and a net margin of 7.91%.LPL Financial's revenue for the quarter was up 30.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.88 earnings per share. Equities analysts expect that LPL Financial Holdings Inc. will post 19.35 earnings per share 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 dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Friday, August 15th. LPL Financial's dividend payout ratio (DPR) is currently 8.21%.

Insider Buying and Selling

In other LPL Financial news, Director Greg Gates sold 1,500 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $374.05, for a total value of $561,075.00. Following the transaction, the director owned 19,120 shares in the company, valued at approximately $7,151,836. This represents a 7.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 sale, the director directly owned 5,582 shares of the company's stock, valued at $2,016,497.50. This trade represents a 1.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,580 shares of company stock worth $1,671,235 over the last ninety days. 1.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. TD Cowen cut LPL Financial from a "strong-buy" rating to a "hold" rating and decreased their target price for the company from $406.00 to $403.00 in a research note on Wednesday, July 9th. Wells Fargo & Company boosted their target price on shares of LPL Financial from $402.00 to $420.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. The Goldman Sachs Group began coverage on shares of LPL Financial in a report on Friday, September 12th. They set a "buy" rating and a $405.00 target price for the company. Redburn Atlantic raised LPL Financial from a "neutral" rating to a "buy" rating and upped their price target for the company from $420.00 to $460.00 in a report on Monday, June 9th. Finally, Citigroup lowered LPL Financial from a "neutral" rating to a "sell" rating and set a $80.00 price objective for the company. in a research note on Wednesday, July 9th. Ten equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, LPL Financial currently has an average rating of "Moderate Buy" and an average target price of $391.54.

LPL Financial 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.