Perpetual Ltd Sells 7,576 Shares of LPL Financial Holdings Inc. $LPLA

Key Points

• Perpetual Ltd reduced its LPL Financial stake by 6.2%, selling 7,576 shares and retaining 113,892 shares worth approximately $34.8 million. Institutional investors and hedge funds collectively own 95.66% of the company.
• Analyst sentiment remains positive, with 14 Buy ratings and three Holds. LPL Financial has a consensus rating of “Moderate Buy” and an average price target of $411.88.
• LPL Financial reported quarterly earnings of $5.84 per share, exceeding estimates by $0.45, while revenue rose 35.2% year over year to $5.19 billion. The company also maintains a quarterly dividend of $0.30 per share.

Perpetual Ltd trimmed its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 6.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 113,892 shares of the financial services provider's stock after selling 7,576 shares during the period. Perpetual Ltd owned about 0.14% of LPL Financial worth $34,828,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Physician Wealth Advisors Inc. raised its position in shares of LPL Financial by 580.0% during the first quarter. Physician Wealth Advisors Inc. now owns 136 shares of the financial services provider's stock worth $41,000 after purchasing an additional 116 shares during the period. Reflection Asset Management bought a new position in shares of LPL Financial during the 4th quarter valued at about $50,000. Versant Capital Management Inc lifted its holdings in shares of LPL Financial by 79.0% during the 2nd quarter. Versant Capital Management Inc now owns 188 shares of the financial services provider's stock valued at $53,000 after purchasing an additional 83 shares in the last quarter. Abound Financial LLC grew its position in shares of LPL Financial by 9,550.0% in the 1st quarter. Abound Financial LLC now owns 193 shares of the financial services provider's stock valued at $58,000 after purchasing an additional 191 shares during the period. Finally, Harbor Investment Advisory LLC acquired a new position in shares of LPL Financial in the 2nd quarter valued at approximately $59,000. 95.66% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other LPL Financial news, insider Katharine Reeping sold 440 shares of the firm's stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $347.88, for a total value of $153,067.20. Following the completion of the transaction, the insider directly owned 1,774 shares in the company, valued at $617,139.12. This trade represents a 19.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Greg Gates sold 4,119 shares of the firm's stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $355.38, for a total transaction of $1,463,810.22. Following the completion of the transaction, the director directly owned 23,602 shares of the company's stock, valued at $8,387,678.76. This represents a 14.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 5,867 shares of company stock valued at $2,079,664. 0.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on LPLA. TD Cowen increased their target price on LPL Financial from $377.00 to $380.00 and gave the stock a "hold" rating in a research note on Monday. UBS Group cut their price target on shares of LPL Financial from $391.00 to $390.00 and set a "buy" rating on the stock in a research note on Wednesday, October 7th. Morgan Stanley lifted their price target on shares of LPL Financial from $387.00 to $393.00 and gave the company an "overweight" rating in a research note on Friday. Capital One Financial set a $370.00 price target on shares of LPL Financial in a report on Tuesday, October 6th. Finally, Truist Financial began coverage on shares of LPL Financial in a research report on Tuesday, September 1st. They set a "hold" rating and a $389.00 price objective for the company. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, LPL Financial has a consensus rating of "Moderate Buy" and an average price target of $411.88.

LPL Financial Stock Performance

LPLA opened at $330.12 on Tuesday. The company has a market capitalization of $25.99 billion, a price-to-earnings ratio of 26.33, a P/E/G ratio of 0.56 and a beta of 0.53. The business's 50-day moving average price is $345.31 and its two-hundred day moving average price is $319.47. LPL Financial Holdings Inc. has a 1 year low of $260.15 and a 1 year high of $400.16. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.39 and a quick ratio of 2.39.

LPL Financial (NASDAQ:LPLA - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $5.84 earnings per share for the quarter, topping the consensus estimate of $5.39 by $0.45. LPL Financial had a return on equity of 32.20% and a net margin of 5.13%. The company had revenue of $5.19 billion during the quarter, compared to analysts' expectations of $5.04 billion. During the same period in the prior year, the firm earned $4.51 earnings per share. LPL Financial's revenue for the quarter was up 35.2% compared to the same quarter last year. Equities analysts expect that LPL Financial Holdings Inc. will post 24.06 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Friday, August 14th. LPL Financial's dividend payout ratio is currently 9.57%.

LPL Financial Company Profile

LPL Financial Holdings Inc is a financial services company that provides brokerage and investment advisory services through a network of independent financial advisors. Operating primarily in the United States, the company supports advisors who serve individuals, families, businesses and retirement plan participants.

LPL Financial's platform offers access to investment products and services, including equities, bonds, mutual funds, exchange-traded funds, insurance products, annuities and alternative investments.

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