LPL Financial Holdings Inc. $LPLA Shares Sold by Yarbrough Capital LLC

Key Points

• Yarbrough Capital LLC has reduced its holdings in LPL Financial Holdings Inc. by 55.9% in the second quarter, now owning 1,481 shares valued at $555,000.
• LPL Financial reported earnings of $4.51 EPS for the quarter, surpassing estimates, with a revenue increase of 30.8% year-over-year to $3.84 billion.
• Analysts have mixed ratings on LPL Financial, with a consensus of "Moderate Buy" and an average target price of $391.54, reflecting varying outlooks on the stock's future performance.

Yarbrough Capital LLC decreased its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 55.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,481 shares of the financial services provider's stock after selling 1,880 shares during the quarter. Yarbrough Capital LLC's holdings in LPL Financial were worth $555,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Summit Securities Group LLC purchased a new stake in shares of LPL Financial during the 1st quarter worth approximately $26,000. Millstone Evans Group LLC raised its stake in LPL Financial by 123.1% during the 1st quarter. Millstone Evans Group LLC now owns 87 shares of the financial services provider's stock worth $28,000 after acquiring an additional 48 shares in the last quarter. Private Trust Co. NA lifted its position in LPL Financial by 234.5% in the first quarter. Private Trust Co. NA now owns 97 shares of the financial services provider's stock valued at $32,000 after acquiring an additional 68 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in LPL Financial by 63.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 100 shares of the financial services provider's stock valued at $33,000 after acquiring an additional 39 shares in the last quarter. Finally, City Holding Co. acquired a new position in LPL Financial in the first quarter valued at $34,000. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

LPL Financial Trading Up 1.0%

Shares of LPL Financial stock opened at $340.48 on Wednesday. The company has a 50-day moving average of $362.22 and a two-hundred day moving average of $353.41. LPL Financial Holdings Inc. has a 12-month low of $219.13 and a 12-month high of $403.58. The company has a current ratio of 3.22, a quick ratio of 3.22 and a debt-to-equity ratio of 1.41. The stock has a market cap of $27.24 billion, a PE ratio of 23.29, a price-to-earnings-growth ratio of 0.79 and a beta of 0.66.

LPL Financial (NASDAQ:LPLA - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The financial services provider reported $4.51 EPS for the quarter, topping the consensus estimate of $4.21 by $0.30. The business had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.77 billion. LPL Financial had a return on equity of 39.80% and a net margin of 7.91%.The company's quarterly revenue was up 30.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.88 EPS. On average, research analysts anticipate that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were given a $0.30 dividend. The ex-dividend date was Friday, August 15th. This represents a $1.20 annualized dividend and a dividend yield of 0.4%. LPL Financial's payout ratio is currently 8.21%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on LPLA shares. The Goldman Sachs Group started coverage on LPL Financial in a report on Friday, September 12th. They issued a "buy" rating and a $405.00 target price for the company. TD Cowen lowered LPL Financial from a "strong-buy" rating to a "hold" rating and cut their price target for the stock from $406.00 to $403.00 in a research report on Wednesday, July 9th. Wall Street Zen downgraded LPL Financial from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. Redburn Atlantic raised shares of LPL Financial from a "neutral" rating to a "buy" rating and lifted their target price for the company from $420.00 to $460.00 in a report on Monday, June 9th. Finally, Wells Fargo & Company upped their price target on shares of LPL Financial from $402.00 to $420.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. Ten investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, LPL Financial currently has a consensus rating of "Moderate Buy" and an average target price of $391.54.

Insider Transactions at LPL Financial

In other news, Director Aneri Jambusaria sold 80 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Greg Gates sold 1,500 shares of LPL Financial stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $338.21, for a total value of $507,315.00. Following the transaction, the director owned 17,620 shares of the company's stock, valued at $5,959,260.20. This represents a 7.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,580 shares of company stock worth $1,671,235. 0.70% of the stock is owned by corporate insiders.

LPL Financial Company 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.

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