Shepherd Financial Partners LLC Acquires New Shares in LPL Financial Holdings Inc. $LPLA

Key Points

• Shepherd Financial Partners initiated a position in LPL Financial, purchasing 4,755 shares valued at approximately $1.34 million. Institutional investors and hedge funds collectively own 95.66% of the company.
• LPL Financial exceeded quarterly expectations, reporting $5.84 in EPS versus the $5.39 consensus and $5.19 billion in revenue, up 35.2% year over year.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $406.69, while the company declared a quarterly dividend of $0.30 per share.

Shepherd Financial Partners LLC bought a new stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,755 shares of the financial services provider's stock, valued at approximately $1,339,000.

Other hedge funds also recently bought and sold shares of the company. Goldstein Advisors LLC lifted its holdings in shares of LPL Financial by 4.8% during the 4th quarter. Goldstein Advisors LLC now owns 634 shares of the financial services provider's stock valued at $226,000 after buying an additional 29 shares during the last quarter. Coastal Bridge Advisors LLC increased its holdings in LPL Financial by 0.6% in the fourth quarter. Coastal Bridge Advisors LLC now owns 5,475 shares of the financial services provider's stock worth $1,956,000 after buying an additional 31 shares during the last quarter. Root Financial Partners LLC raised its position in LPL Financial by 1.4% during the fourth quarter. Root Financial Partners LLC now owns 2,318 shares of the financial services provider's stock valued at $828,000 after acquiring an additional 33 shares in the last quarter. Lifestyle Asset Management Inc. raised its position in LPL Financial by 2.9% during the fourth quarter. Lifestyle Asset Management Inc. now owns 1,191 shares of the financial services provider's stock valued at $425,000 after acquiring an additional 34 shares in the last quarter. Finally, Bank of Nova Scotia lifted its stake in LPL Financial by 0.7% in the first quarter. Bank of Nova Scotia now owns 5,705 shares of the financial services provider's stock valued at $1,716,000 after acquiring an additional 37 shares during the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at LPL Financial

In related news, Director Matthew Enyedi sold 1,000 shares of the stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $352.72, for a total transaction of $352,720.00. Following the completion of the sale, the director owned 13,121 shares in the company, valued at $4,628,039.12. This represents a 7.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Aneri Jambusaria sold 308 shares of the firm's stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $306.00, for a total value of $94,248.00. Following the completion of the sale, the director directly owned 6,415 shares in the company, valued at $1,962,990. This trade represents a 4.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.60% of the company's stock.

LPL Financial Price Performance

Shares of LPL Financial stock opened at $359.23 on Thursday. The company has a current ratio of 2.39, a quick ratio of 2.39 and a debt-to-equity ratio of 1.30. The firm has a fifty day simple moving average of $323.90 and a 200-day simple moving average of $315.62. The stock has a market capitalization of $28.29 billion, a price-to-earnings ratio of 28.65, a PEG ratio of 0.62 and a beta of 0.48. LPL Financial Holdings Inc. has a 1-year low of $260.15 and a 1-year high of $400.16.

LPL Financial (NASDAQ:LPLA - Get Free Report) last posted its earnings results on Thursday, July 30th. The financial services provider reported $5.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.39 by $0.45. The business had revenue of $5.19 billion for the quarter, compared to analyst estimates of $5.04 billion. LPL Financial had a net margin of 5.13% and a return on equity of 32.20%. LPL Financial's revenue was up 35.2% compared to the same quarter last year. During the same period last year, the business posted $4.51 EPS. On average, sell-side analysts expect that LPL Financial Holdings Inc. will post 24.09 earnings per share for the current year.

LPL Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th 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 of this dividend is Friday, August 14th. LPL Financial's dividend payout ratio (DPR) is currently 9.57%.

Analysts Set New Price Targets

Several research firms have commented on LPLA. TD Cowen boosted their target price on shares of LPL Financial from $330.00 to $372.00 and gave the stock a "hold" rating in a research report on Friday, July 31st. Weiss Ratings reaffirmed a "hold (c)" rating on shares of LPL Financial in a research note on Friday, July 24th. Wolfe Research reiterated an "outperform" rating and issued a $454.00 price objective on shares of LPL Financial in a report on Wednesday, August 12th. UBS Group lowered their target price on shares of LPL Financial from $395.00 to $391.00 and set a "buy" rating on the stock in a research report on Wednesday, July 8th. Finally, William Blair restated an "outperform" rating on shares of LPL Financial in a report on Thursday, June 4th. Twelve analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $406.69.

LPL Financial Company Profile

LPL Financial NASDAQ: LPLA is a U.S.-focused financial services firm that provides brokerage, custodial and advisory platforms to independent financial advisors, registered investment advisers and institutions. Operating primarily as an independent broker-dealer and custodian, the company supports a network of advisors with the operational, compliance and clearing infrastructure needed to manage client accounts and deliver investment advice outside of traditional wirehouse models.

The firm's product and service offerings include trade execution and clearing, custody services, retirement plan services, model portfolio and advisory platforms, wealth management technology, investment research and product access across equities, fixed income, mutual funds, exchange-traded funds and insurance and annuity solutions.

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