LPL Financial (NASDAQ:LPLA) Director Sells $235,815.00 in Stock

Key Points

• LPL Financial Director Greg Gates sold 750 shares for a total of $235,815 on October 6th, reducing his ownership by 4.26% to 16,870 shares.
• The company's stock closed at $325.13, reflecting a gain of $7.81, while hitting a 1-year high of $403.58 and a low of $242.57.
• Analysts have mixed views on LPL Financial, with recent reports adjusting target prices and ratings, indicating a consensus rating of "Moderate Buy" and an average target price of $392.00.

LPL Financial Holdings Inc. (NASDAQ:LPLA - Get Free Report) Director Greg Gates sold 750 shares of the company's stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $314.42, for a total transaction of $235,815.00. Following the completion of the sale, the director directly owned 16,870 shares of the company's stock, valued at $5,304,265.40. The trade was a 4.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• On Friday, September 5th, Greg Gates sold 1,500 shares of LPL Financial stock. The stock was sold at an average price of $338.21, for a total transaction of $507,315.00.
• On Tuesday, August 5th, Greg Gates sold 1,500 shares of LPL Financial stock. The stock was sold at an average price of $374.05, for a total transaction of $561,075.00.

LPL Financial Stock Performance

Shares of LPL Financial stock traded up $7.81 on Wednesday, reaching $325.13. 720,941 shares of the stock were exchanged, compared to its average volume of 837,222. LPL Financial Holdings Inc. has a 1-year low of $242.57 and a 1-year high of $403.58. The company has a current ratio of 3.22, a quick ratio of 3.22 and a debt-to-equity ratio of 1.41. The business has a fifty day moving average price of $351.25 and a two-hundred day moving average price of $353.65. The firm has a market capitalization of $26.01 billion, a PE ratio of 22.24, a PEG ratio of 0.73 and a beta of 0.61.

LPL Financial (NASDAQ:LPLA - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The financial services provider reported $4.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.21 by $0.30. LPL Financial had a net margin of 7.91% and a return on equity of 39.80%. The business had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same period in the previous year, the business posted $3.88 earnings per share. The business's revenue was up 30.8% compared to the same quarter last year. As a group, research analysts anticipate that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.4%. The ex-dividend date was Friday, August 15th. LPL Financial's dividend payout ratio is presently 8.21%.

Analysts Set New Price Targets

LPLA has been the topic of several recent analyst reports. TD Cowen lowered shares of LPL Financial from a "strong-buy" rating to a "hold" rating and lowered their target price for the stock from $406.00 to $403.00 in a research report on Wednesday, July 9th. Wells Fargo & Company increased their price target on shares of LPL Financial from $402.00 to $420.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. The Goldman Sachs Group initiated coverage on shares of LPL Financial in a research report on Friday, September 12th. They issued a "buy" rating and a $405.00 price target on the stock. Citigroup lowered shares of LPL Financial from a "neutral" rating to a "sell" rating and set a $80.00 price target on the stock. in a research report on Wednesday, July 9th. Finally, BMO Capital Markets initiated coverage on shares of LPL Financial in a research report on Friday, October 3rd. They issued an "outperform" rating and a $365.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $392.00.

Hedge Funds Weigh In On LPL Financial

Institutional investors and hedge funds have recently modified their holdings of the company. Summit Securities Group LLC purchased a new position in shares of LPL Financial during the first quarter valued at approximately $26,000. Osterweis Capital Management Inc. purchased a new position in shares of LPL Financial during the second quarter valued at approximately $26,000. Millstone Evans Group LLC lifted its stake 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 valued at $28,000 after buying an additional 48 shares during the period. SBI Securities Co. Ltd. raised its stake in LPL Financial by 116.2% during the second quarter. SBI Securities Co. Ltd. now owns 80 shares of the financial services provider's stock worth $30,000 after purchasing an additional 43 shares during the period. Finally, Private Trust Co. NA raised its stake in LPL Financial by 234.5% during the first quarter. Private Trust Co. NA now owns 97 shares of the financial services provider's stock worth $32,000 after purchasing an additional 68 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.

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