LPL Financial Holdings Inc. (NASDAQ:LPLA) Director Greg Gates Sells 1,500 Shares

LPL Financial Holdings Inc. (NASDAQ:LPLA - Get Free Report) Director Greg Gates sold 1,500 shares of the business's 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 completion of the sale, the director directly owned 20,620 shares of the company's stock, valued at approximately $7,889,830.60. The trade was a 6.78% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

LPL Financial Price Performance

LPL Financial stock traded down $6.15 during mid-day trading on Wednesday, hitting $377.45. 106,320 shares of the company were exchanged, compared to its average volume of 849,012. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 1.82. The business has a fifty day moving average of $371.40 and a 200 day moving average of $349.03. LPL Financial Holdings Inc. has a 1-year low of $187.19 and a 1-year high of $390.23. The company has a market capitalization of $30.19 billion, a PE ratio of 26.11, a price-to-earnings-growth ratio of 1.04 and a beta of 0.64.

LPL Financial (NASDAQ:LPLA - Get Free Report) last announced 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. LPL Financial had a return on equity of 46.34% and a net margin of 8.23%. The company had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.63 billion. During the same period last year, the company posted $3.83 earnings per share. The firm's quarterly revenue was up 4.5% compared to the same quarter last year. As a group, sell-side analysts expect that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 30th were paid a $0.30 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.32%. LPL Financial's dividend payout ratio (DPR) is presently 8.30%.

Hedge Funds Weigh In On LPL Financial

Hedge funds have recently added to or reduced their stakes in the company. Summit Securities Group LLC bought a new position in LPL Financial during the first quarter worth about $26,000. Millstone Evans Group LLC raised its position in shares of LPL Financial by 123.1% during the first quarter. Millstone Evans Group LLC now owns 87 shares of the financial services provider's stock worth $28,000 after purchasing an additional 48 shares during the period. Graney & King LLC acquired a new stake in LPL Financial in the 4th quarter valued at approximately $30,000. Private Trust Co. NA raised its position in LPL Financial by 234.5% in the 1st quarter. Private Trust Co. NA now owns 97 shares of the financial services provider's stock valued at $32,000 after buying an additional 68 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its position in LPL Financial by 63.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 100 shares of the financial services provider's stock valued at $33,000 after buying an additional 39 shares during the last quarter. Institutional investors own 95.66% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on LPLA. TD Cowen reissued a "hold" rating and issued a $403.00 price objective (down from $406.00) on shares of LPL Financial in a research report on Wednesday. Barclays increased their price objective on LPL Financial from $400.00 to $450.00 and gave the company an "overweight" rating in a research report on Monday, June 9th. JMP Securities increased their price objective on LPL Financial from $420.00 to $440.00 and gave the company a "market outperform" rating in a research report on Friday, May 9th. Redburn Atlantic raised 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 research report on Monday, June 9th. Finally, Morgan Stanley increased their price objective on LPL Financial from $330.00 to $450.00 and gave the company an "overweight" rating in a research report on Wednesday, May 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, LPL Financial currently has an average rating of "Moderate Buy" and a consensus target price of $362.31.

About LPL Financial

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.