LPL Financial (NASDAQ:LPLA) Director Aneri Jambusaria Sells 308 Shares of Stock

Key Points

• LPL Financial director Aneri Jambusaria sold 308 shares for approximately $110,067 under a pre-arranged Rule 10b5-1 trading plan, reducing her holdings by 4.8% to 6,107 shares.
• LPL Financial reported quarterly adjusted earnings of $5.84 per share and revenue of $5.19 billion, exceeding analyst expectations; revenue increased 35.2% year over year.
• Analysts maintain a positive outlook, with a consensus “Moderate Buy” rating and an average price target of $406.69, while the company pays a quarterly dividend of $0.30 per share.

LPL Financial Holdings Inc. (NASDAQ:LPLA - Get Free Report) Director Aneri Jambusaria sold 308 shares of the firm's stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $357.36, for a total value of $110,066.88. Following the transaction, the director owned 6,107 shares in the company, valued at approximately $2,182,397.52. This represents a 4.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Aneri Jambusaria also recently made the following trade(s):

• On Wednesday, June 17th, Aneri Jambusaria sold 308 shares of LPL Financial stock. The stock was sold at an average price of $306.00, for a total transaction of $94,248.00.

LPL Financial Stock Down 0.1%

NASDAQ LPLA traded down $0.55 during trading on Monday, reaching $370.14. 745,208 shares of the company's stock traded hands, compared to its average volume of 915,269. LPL Financial Holdings Inc. has a 12-month low of $260.15 and a 12-month 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. The firm has a market cap of $29.15 billion, a price-to-earnings ratio of 29.52, a price-to-earnings-growth ratio of 0.62 and a beta of 0.48. The company's 50 day simple moving average is $333.13 and its two-hundred day simple moving average is $314.67.

LPL Financial (NASDAQ:LPLA - Get Free Report) last announced its quarterly earnings results 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. The firm had revenue of $5.19 billion during the quarter, compared to analysts' expectations of $5.04 billion. LPL Financial had a net margin of 5.13% and a return on equity of 32.20%. The company's revenue was up 35.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.51 EPS. As a group, sell-side analysts forecast that LPL Financial Holdings Inc. will post 24.09 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were issued a $0.30 dividend. The ex-dividend date was Friday, August 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.3%. LPL Financial's dividend payout ratio (DPR) is currently 9.57%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Keefe, Bruyette & Woods lifted their target price on LPL Financial from $365.00 to $390.00 and gave the company an "outperform" rating in a research note on Friday, July 31st. UBS Group reduced their price objective on shares of LPL Financial from $395.00 to $391.00 and set a "buy" rating for the company in a research note on Wednesday, July 8th. Morgan Stanley raised their target price on shares of LPL Financial from $374.00 to $387.00 and gave the company an "overweight" rating in a research note on Friday, July 10th. BMO Capital Markets upped their price target on LPL Financial from $300.00 to $390.00 and gave the stock an "outperform" rating in a research report on Monday, August 3rd. Finally, William Blair reissued an "outperform" rating on shares of LPL Financial in a research report on Thursday, June 4th. Twelve research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, LPL Financial presently has a consensus rating of "Moderate Buy" and a consensus target price of $406.69.

Hedge Funds Weigh In On LPL Financial

Institutional investors and hedge funds have recently modified their holdings of the stock. Amundi lifted its holdings in LPL Financial by 30.7% in the second quarter. Amundi now owns 164,400 shares of the financial services provider's stock valued at $46,308,000 after acquiring an additional 38,624 shares during the period. California State Teachers Retirement System increased its holdings in shares of LPL Financial by 29,129.4% during the 2nd quarter. California State Teachers Retirement System now owns 34,308,342 shares of the financial services provider's stock valued at $9,663,974,000 after purchasing an additional 34,190,966 shares in the last quarter. Saudi Central Bank lifted its stake in shares of LPL Financial by 90.0% in the 2nd quarter. Saudi Central Bank now owns 5,613 shares of the financial services provider's stock valued at $1,581,000 after purchasing an additional 2,659 shares during the period. Raiffeisen Bank International AG boosted its holdings in LPL Financial by 113.5% during the second quarter. Raiffeisen Bank International AG now owns 5,384 shares of the financial services provider's stock worth $1,450,000 after buying an additional 2,862 shares in the last quarter. Finally, Concurrent Investment Advisors LLC boosted its holdings in LPL Financial by 40.0% during the second quarter. Concurrent Investment Advisors LLC now owns 2,622 shares of the financial services provider's stock worth $739,000 after buying an additional 749 shares in the last quarter. Institutional investors and hedge funds own 95.66% of the company's stock.

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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