Poplar Forest Capital LLC Has $5.90 Million Stock Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Poplar Forest Capital LLC trimmed its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 30.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,019 shares of the financial services provider's stock after selling 7,992 shares during the quarter. LPL Financial accounts for 1.0% of Poplar Forest Capital LLC's portfolio, making the stock its 28th largest holding. Poplar Forest Capital LLC's holdings in LPL Financial were worth $5,895,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in LPLA. Virtu Financial LLC bought a new position in LPL Financial in the 4th quarter worth approximately $260,000. Sei Investments Co. raised its holdings in LPL Financial by 32.0% in the 4th quarter. Sei Investments Co. now owns 115,732 shares of the financial services provider's stock valued at $37,789,000 after acquiring an additional 28,072 shares during the period. KLP Kapitalforvaltning AS bought a new position in LPL Financial in the 4th quarter valued at about $8,522,000. Potentia Wealth acquired a new stake in shares of LPL Financial in the fourth quarter valued at approximately $515,000. Finally, Graney & King LLC acquired a new stake in shares of LPL Financial in the fourth quarter valued at approximately $30,000. 95.66% of the stock is owned by institutional investors and hedge funds.

LPL Financial Trading Down 1.4%

LPLA opened at $374.36 on Wednesday. LPL Financial Holdings Inc. has a fifty-two week low of $187.19 and a fifty-two week high of $396.25. The company has a debt-to-equity ratio of 1.82, a current ratio of 2.31 and a quick ratio of 2.31. The company's 50-day moving average is $377.97 and its 200 day moving average is $352.21. The firm has a market capitalization of $29.94 billion, a PE ratio of 25.91, a P/E/G ratio of 0.93 and a beta of 0.64.

LPL Financial (NASDAQ:LPLA - Get Free Report) last released its earnings results on Thursday, May 8th. The financial services provider reported $5.15 earnings per share for the quarter, beating analysts' consensus estimates of $4.54 by $0.61. The firm had revenue of $3.67 billion for the quarter, compared to analysts' expectations of $3.63 billion. LPL Financial had a net margin of 8.23% and a return on equity of 46.34%. The company's quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the company earned $3.83 earnings per share. As a group, research analysts predict that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 30th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date was Friday, May 30th. LPL Financial's payout ratio is currently 8.30%.

Insider Transactions at LPL Financial

In other LPL Financial news, Director Greg Gates sold 1,500 shares of the stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $382.63, for a total value of $573,945.00. Following the sale, the director directly owned 20,620 shares in the company, valued at $7,889,830.60. This represents a 6.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on LPLA. Morgan Stanley reaffirmed an "overweight" rating and set a $490.00 target price (up previously from $450.00) on shares of LPL Financial in a research note on Tuesday, July 15th. JMP Securities lifted their price target on shares of LPL Financial from $420.00 to $440.00 and gave the stock a "market outperform" rating in a report on Friday, May 9th. TD Cowen lowered shares of 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 report on Wednesday, July 9th. Wells Fargo & Company lifted their price target 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. Finally, Redburn Atlantic upgraded shares of LPL Financial from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $420.00 to $460.00 in a report on Monday, June 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, LPL Financial has a consensus rating of "Moderate Buy" and a consensus target price of $372.15.

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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