LPL Financial Holdings Inc. (NASDAQ:LPLA) Director Sells $561,075.00 in Stock

Key Points

• Greg Gates, a director at LPL Financial, sold 1,500 shares at an average price of $374.05, totaling $561,075, which decreased his stock position by 7.27%.
• LPL Financial reported a 30.8% year-over-year increase in revenue for the recent quarter, beating estimates with $4.51 earnings per share compared to the expected $4.21.
• The company announced a quarterly dividend of $0.30 per share, resulting in an annualized yield of 0.3%, with the payment scheduled for August 29th.

LPL Financial Holdings Inc. (NASDAQ:LPLA - Get Free Report) Director Greg Gates sold 1,500 shares of LPL Financial stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $374.05, for a total transaction of $561,075.00. Following the completion of the transaction, the director owned 19,120 shares of the company's stock, valued at $7,151,836. This trade represents a 7.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Greg Gates also recently made the following trade(s):

• On Thursday, July 3rd, Greg Gates sold 1,500 shares of LPL Financial stock. The shares were sold at an average price of $382.63, for a total transaction of $573,945.00.

LPL Financial Stock Performance

LPLA stock traded down $0.26 during trading on Monday, reaching $369.58. The company had a trading volume of 26,488 shares, compared to its average volume of 814,319. LPL Financial Holdings Inc. has a twelve month low of $194.36 and a twelve month high of $403.58. The company has a debt-to-equity ratio of 1.41, a quick ratio of 3.22 and a current ratio of 3.22. The company has a market cap of $29.57 billion, a price-to-earnings ratio of 25.30, a price-to-earnings-growth ratio of 0.87 and a beta of 0.66. The firm has a 50-day simple moving average of $377.68 and a 200-day simple moving average of $355.81.

LPL Financial (NASDAQ:LPLA - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The financial services provider reported $4.51 earnings per share for the quarter, beating the consensus estimate of $4.21 by $0.30. The firm had revenue of $3.84 billion for the quarter, compared to analysts' expectations of $3.77 billion. LPL Financial had a net margin of 7.91% and a return on equity of 39.80%. The company's revenue was up 30.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.88 EPS. 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Friday, August 15th. LPL Financial's dividend payout ratio (DPR) is currently 8.21%.

Analysts Set New Price Targets

Several research analysts have weighed in on LPLA shares. Redburn Atlantic raised shares of LPL Financial from a "neutral" rating to a "buy" rating and increased their price target for the company from $420.00 to $460.00 in a report on Monday, June 9th. TD Cowen lowered shares of LPL Financial from a "strong-buy" rating to a "hold" rating and cut their target price for the company from $406.00 to $403.00 in a research report on Wednesday, July 9th. Keefe, Bruyette & Woods raised their price target on shares of LPL Financial from $425.00 to $435.00 and gave the company an "outperform" rating in a research note on Monday, August 4th. Citigroup downgraded shares of LPL Financial from a "neutral" rating to a "sell" rating and set a $80.00 target price for the company. in a research note on Wednesday, July 9th. Finally, JMP Securities boosted their target price on shares of LPL Financial from $420.00 to $440.00 and gave the stock a "market outperform" rating in a research report on Friday, May 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $383.58.

Institutional Trading of LPL Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Summit Securities Group LLC acquired a new stake in shares of LPL Financial in the first quarter valued at $26,000. Millstone Evans Group LLC boosted its stake in shares of LPL Financial by 123.1% during the 1st quarter. Millstone Evans Group LLC now owns 87 shares of the financial services provider's stock worth $28,000 after acquiring an additional 48 shares in the last quarter. SBI Securities Co. Ltd. boosted its stake in LPL Financial by 116.2% during the 2nd quarter. SBI Securities Co. Ltd. now owns 80 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 43 shares during the period. Private Trust Co. NA lifted its position in shares of LPL Financial by 234.5% during the 1st quarter. Private Trust Co. NA now owns 97 shares of the financial services provider's stock worth $32,000 after buying an additional 68 shares during the period. Finally, MassMutual Private Wealth & Trust FSB lifted its position in LPL Financial by 63.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 100 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 39 shares during the period. Hedge funds and other institutional investors own 95.66% of the company's stock.

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.