LPL Financial Holdings Inc. (NASDAQ:LPLA) Director Sells $2,708,144.52 in Stock

LPL Financial Holdings Inc. (NASDAQ:LPLAGet Rating) Director Michelle Oroschakoff sold 15,724 shares of LPL Financial stock in a transaction on Monday, May 16th. The stock was sold at an average price of $172.23, for a total transaction of $2,708,144.52. Following the sale, the director now directly owns 42,068 shares in the company, valued at approximately $7,245,371.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

LPLA stock traded down $5.64 during midday trading on Wednesday, hitting $172.42. 946,263 shares of the company’s stock were exchanged, compared to its average volume of 816,816. The business has a 50-day simple moving average of $186.67 and a two-hundred day simple moving average of $174.84. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 1.57. The stock has a market capitalization of $13.79 billion, a PE ratio of 30.34, a P/E/G ratio of 0.48 and a beta of 0.95. LPL Financial Holdings Inc. has a 1-year low of $127.03 and a 1-year high of $220.80.

LPL Financial (NASDAQ:LPLAGet Rating) last released its quarterly earnings results on Thursday, April 28th. The financial services provider reported $1.95 EPS for the quarter, topping the consensus estimate of $1.79 by $0.16. LPL Financial had a return on equity of 35.82% and a net margin of 5.74%. The business had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same period last year, the business posted $1.77 earnings per share. The company’s quarterly revenue was up 21.0% on a year-over-year basis. As a group, research analysts expect that LPL Financial Holdings Inc. will post 9.69 EPS for the current fiscal year.

Several brokerages have recently weighed in on LPLA. Truist Financial boosted their price target on shares of LPL Financial from $200.00 to $230.00 in a research report on Tuesday, May 3rd. StockNews.com lowered shares of LPL Financial from a “hold” rating to a “sell” rating in a report on Monday, May 2nd. Morgan Stanley lifted their price target on shares of LPL Financial from $246.00 to $263.00 and gave the company an “overweight” rating in a research report on Wednesday, April 13th. Citigroup increased their price objective on LPL Financial from $225.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, April 14th. Finally, JMP Securities raised LPL Financial from a “market perform” rating to an “outperform” rating and set a $242.00 target price for the company in a research note on Thursday, April 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, LPL Financial has an average rating of “Buy” and a consensus price target of $221.00.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allworth Financial LP purchased a new position in shares of LPL Financial during the first quarter worth $28,000. Steward Financial Group LLC purchased a new position in shares of LPL Financial during the first quarter worth $31,000. Liberty Wealth Management LLC boosted its position in shares of LPL Financial by 831.6% during the third quarter. Liberty Wealth Management LLC now owns 177 shares of the financial services provider’s stock worth $29,000 after buying an additional 158 shares during the period. Manchester Capital Management LLC boosted its position in shares of LPL Financial by 203.3% during the third quarter. Manchester Capital Management LLC now owns 185 shares of the financial services provider’s stock worth $29,000 after buying an additional 124 shares during the period. Finally, Eagle Bay Advisors LLC boosted its position in shares of LPL Financial by 2,511.1% during the first quarter. Eagle Bay Advisors LLC now owns 235 shares of the financial services provider’s stock worth $43,000 after buying an additional 226 shares during the period. Institutional investors and hedge funds own 96.06% of the company’s stock.

LPL Financial Company Profile (Get Rating)

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 financial institutions in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, retirement and education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and auction rate notes.

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