Aneri Jambusaria Sells 1,930 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) Stock

LPL Financial Holdings Inc. (NASDAQ:LPLA) Director Aneri Jambusaria sold 1,930 shares of the business’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $222.37, for a total value of $429,174.10. Following the completion of the sale, the director now directly owns 1,802 shares of the company’s stock, valued at $400,710.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

LPL Financial Stock Performance

Shares of NASDAQ LPLA opened at $221.39 on Wednesday. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 1.49. The stock has a 50 day simple moving average of $232.89 and a 200-day simple moving average of $220.10. The company has a market cap of $16.74 billion, a PE ratio of 15.01, a P/E/G ratio of 0.61 and a beta of 0.91. LPL Financial Holdings Inc. has a 12-month low of $179.00 and a 12-month high of $271.56.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data on Thursday, October 26th. The financial services provider reported $3.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.59 by $0.15. The business had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.51 billion. LPL Financial had a return on equity of 60.49% and a net margin of 11.99%. The business’s revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the firm posted $3.13 earnings per share. On average, equities research analysts forecast that LPL Financial Holdings Inc. will post 15.44 EPS for the current year.

LPL Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 27th. Shareholders of record on Thursday, November 9th will be given a $0.30 dividend. The ex-dividend date is Wednesday, November 8th. This represents a $1.20 dividend on an annualized basis and a yield of 0.54%. LPL Financial’s dividend payout ratio (DPR) is 8.14%.

Institutional Investors Weigh In On LPL Financial

A number of institutional investors have recently added to or reduced their stakes in LPLA. Moneta Group Investment Advisors LLC lifted its position in LPL Financial by 218,199.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 95,191,655 shares of the financial services provider’s stock worth $20,577,580,000 after purchasing an additional 95,148,049 shares during the period. FMR LLC lifted its position in LPL Financial by 92.9% in the first quarter. FMR LLC now owns 4,283,675 shares of the financial services provider’s stock worth $867,016,000 after purchasing an additional 2,063,212 shares during the period. Capital Research Global Investors lifted its position in LPL Financial by 117.8% in the second quarter. Capital Research Global Investors now owns 2,197,845 shares of the financial services provider’s stock worth $477,880,000 after purchasing an additional 1,188,739 shares during the period. Norges Bank acquired a new stake in LPL Financial in the fourth quarter worth approximately $217,799,000. Finally, Boston Partners lifted its position in shares of LPL Financial by 1,264.4% during the 2nd quarter. Boston Partners now owns 847,460 shares of the financial services provider’s stock valued at $184,296,000 after acquiring an additional 785,347 shares during the last quarter. 92.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on LPLA shares. Morgan Stanley lowered their price objective on LPL Financial from $260.00 to $252.00 and set an “equal weight” rating for the company in a report on Monday, October 30th. JPMorgan Chase & Co. boosted their price objective on LPL Financial from $230.00 to $251.00 and gave the company a “neutral” rating in a report on Tuesday, October 10th. Citigroup boosted their price objective on LPL Financial from $245.00 to $275.00 and gave the company a “buy” rating in a report on Friday, July 28th. Bank of America boosted their price objective on LPL Financial from $232.00 to $233.00 in a report on Sunday, July 30th. Finally, Jefferies Financial Group boosted their price objective on LPL Financial from $282.00 to $284.00 in a report on Tuesday, October 10th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $252.90.

LPL Financial Company Profile

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, 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.