LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Purchased by Townsquare Capital LLC

Key Points

• Townsquare Capital LLC increased its holdings in LPL Financial Holdings Inc. by 14.1%, owning a total of 17,719 shares worth approximately $5.8 million.
• In its latest quarterly earnings report, LPL Financial beat expectations with $4.51 EPS, exceeding the consensus estimate of $4.21 by 30 cents.
• The company recently declared a quarterly dividend of $0.30 per share, with a payout ratio of 8.21%, to be paid on August 29th.

Townsquare Capital LLC increased its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 14.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,719 shares of the financial services provider's stock after acquiring an additional 2,187 shares during the quarter. Townsquare Capital LLC's holdings in LPL Financial were worth $5,797,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of LPLA. Bank of Montreal Can grew its position in LPL Financial by 46.9% in the 4th quarter. Bank of Montreal Can now owns 59,910 shares of the financial services provider's stock worth $19,561,000 after purchasing an additional 19,126 shares during the last quarter. DAVENPORT & Co LLC grew its position in LPL Financial by 8.9% in the 1st quarter. DAVENPORT & Co LLC now owns 1,918 shares of the financial services provider's stock worth $627,000 after purchasing an additional 156 shares during the last quarter. Merit Financial Group LLC grew its position in LPL Financial by 195.1% in the 1st quarter. Merit Financial Group LLC now owns 3,341 shares of the financial services provider's stock worth $1,093,000 after purchasing an additional 2,209 shares during the last quarter. Amalgamated Bank grew its position in LPL Financial by 3.8% in the 1st quarter. Amalgamated Bank now owns 5,875 shares of the financial services provider's stock worth $1,922,000 after purchasing an additional 213 shares during the last quarter. Finally, Blue Trust Inc. grew its position in LPL Financial by 2,319.1% in the 1st quarter. Blue Trust Inc. now owns 1,137 shares of the financial services provider's stock worth $372,000 after purchasing an additional 1,090 shares during the last quarter. Institutional investors and hedge funds own 95.66% of the company's stock.

Insider Activity at LPL Financial

In other LPL Financial news, Director Greg Gates sold 1,500 shares of the 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 completion of the sale, the director owned 19,120 shares in the company, valued at $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 this hyperlink. Company insiders own 1.30% of the company's stock.

LPL Financial Stock Up 0.3%

LPLA stock opened at $369.84 on Friday. The company has a debt-to-equity ratio of 1.41, a current ratio of 3.22 and a quick ratio of 2.31. The firm has a market cap of $29.59 billion, a PE ratio of 25.30, a P/E/G ratio of 0.87 and a beta of 0.66. LPL Financial Holdings Inc. has a 12 month low of $193.22 and a 12 month high of $403.58. The firm has a 50 day simple moving average of $377.68 and a 200 day simple moving average of $355.83.

LPL Financial (NASDAQ:LPLA - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The financial services provider reported $4.51 EPS for the quarter, beating the consensus estimate of $4.21 by $0.30. The business had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.77 billion. LPL Financial had a net margin of 7.91% and a return on equity of 39.80%. The firm's quarterly revenue was up 30.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.88 EPS. Equities research analysts forecast that LPL Financial Holdings Inc. will post 19.35 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 Friday, August 29th. Investors of record on Friday, August 15th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Friday, August 15th. LPL Financial's dividend payout ratio is 8.21%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Keefe, Bruyette & Woods upped their target price on shares of LPL Financial from $425.00 to $435.00 and gave the stock an "outperform" rating in a research report on Monday, August 4th. Wall Street Zen cut shares of LPL Financial from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. TD Cowen cut shares of LPL Financial from a "strong-buy" rating to a "hold" rating and decreased their price objective for the company from $406.00 to $403.00 in a report on Wednesday, July 9th. Wells Fargo & Company increased their price objective on shares of LPL Financial from $402.00 to $420.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Finally, Redburn Atlantic upgraded shares of LPL Financial from a "neutral" rating to a "buy" rating and increased their price objective for the company from $420.00 to $460.00 in a report on Monday, June 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, LPL Financial has an average rating of "Moderate Buy" and a consensus target price of $383.58.

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.

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