LPL Financial Holdings Inc. $LPLA Stock Position Lowered by Samlyn Capital LLC

Key Points

• Samlyn Capital LLC has reduced its stake in LPL Financial Holdings Inc. by 10.9%, owning 1,401,255 shares after selling 171,821 during the first quarter.
• Recent quarterly earnings reported $4.51 per share, exceeding estimates, with revenues up 30.8% year-over-year, reaching $3.84 billion.
• LPL Financial's current analyst ratings include 10 Buy ratings, 1 Hold rating, and 1 Sell rating, with an average price target of $383.33.

Samlyn Capital LLC lessened its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 10.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,401,255 shares of the financial services provider's stock after selling 171,821 shares during the period. LPL Financial accounts for 6.8% of Samlyn Capital LLC's holdings, making the stock its 2nd biggest holding. Samlyn Capital LLC owned about 1.75% of LPL Financial worth $458,407,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of LPLA. Palestra Capital Management LLC increased its stake in LPL Financial by 21.6% in the first quarter. Palestra Capital Management LLC now owns 399,210 shares of the financial services provider's stock valued at $130,598,000 after purchasing an additional 70,924 shares in the last quarter. Petrus Trust Company LTA increased its stake in LPL Financial by 57.1% in the first quarter. Petrus Trust Company LTA now owns 2,072 shares of the financial services provider's stock valued at $678,000 after purchasing an additional 753 shares in the last quarter. Nissay Asset Management Corp Japan ADV increased its stake in LPL Financial by 1.4% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 9,295 shares of the financial services provider's stock valued at $3,041,000 after purchasing an additional 126 shares in the last quarter. NewEdge Advisors LLC increased its stake in LPL Financial by 42.7% in the first 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. Finally, Integrated Wealth Concepts LLC increased its stake in LPL Financial by 1.9% in the first quarter. Integrated Wealth Concepts LLC now owns 3,863 shares of the financial services provider's stock valued at $1,264,000 after purchasing an additional 71 shares in the last quarter. Institutional investors own 95.66% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on LPLA. Redburn Atlantic raised shares of LPL Financial from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $420.00 to $460.00 in a research report on Monday, June 9th. TD Cowen downgraded shares of LPL Financial from a "strong-buy" rating to a "hold" rating and decreased their target price for the stock from $406.00 to $403.00 in a research report on Wednesday, July 9th. Morgan Stanley reissued an "overweight" rating and set a $490.00 target price (up from $450.00) on shares of LPL Financial in a research report on Tuesday, July 15th. Wall Street Zen downgraded shares of LPL Financial from a "buy" rating to a "hold" rating in a research report on Saturday, June 14th. Finally, Citigroup downgraded shares of LPL Financial from a "neutral" rating to a "sell" rating and set a $80.00 target price for the company. in a research report on Wednesday, July 9th. Ten equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, LPL Financial currently has an average rating of "Moderate Buy" and a consensus target price of $383.33.

LPL Financial Stock Performance

LPLA traded down $0.55 during midday trading on Tuesday, reaching $339.97. The company had a trading volume of 1,352,560 shares, compared to its average volume of 772,839. The company has a debt-to-equity ratio of 1.41, a quick ratio of 3.22 and a current ratio of 3.22. The stock has a market cap of $27.20 billion, a PE ratio of 23.25, a P/E/G ratio of 0.80 and a beta of 0.66. LPL Financial Holdings Inc. has a 12-month low of $204.41 and a 12-month high of $403.58. The business has a 50-day moving average price of $369.78 and a two-hundred day moving average price of $354.36.

LPL Financial (NASDAQ:LPLA - Get Free Report) last released its 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 firm had revenue of $3.84 billion for 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 quarterly revenue was up 30.8% on a year-over-year basis. During the same period in the previous year, the company earned $3.88 earnings per share. On average, sell-side analysts expect that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

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

Insider Transactions at LPL Financial

In other LPL Financial news, Director Greg Gates sold 1,500 shares of the business's stock in a transaction dated 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 directly owned 19,120 shares in the company, valued at $7,151,836. The trade was a 7.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Aneri Jambusaria sold 80 shares of the business's stock in a transaction dated 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,580 shares of company stock worth $1,671,235. Corporate insiders own 0.70% of the company's stock.

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.