Allworth Financial LP Boosts Stake in LPL Financial Holdings Inc. $LPLA

Allworth Financial LP raised its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 1,232.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,075 shares of the financial services provider’s stock after acquiring an additional 6,544 shares during the quarter. Allworth Financial LP’s holdings in LPL Financial were worth $2,653,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in LPLA. Summit Securities Group LLC bought a new stake in LPL Financial during the first quarter valued at about $26,000. Millstone Evans Group LLC lifted its position 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 last quarter. Bayforest Capital Ltd bought a new stake in shares of LPL Financial in the 2nd quarter valued at about $34,000. Maseco LLP acquired a new position in shares of LPL Financial during the second quarter worth $34,000. Finally, TCTC Holdings LLC lifted its holdings in shares of LPL Financial by 116.7% during the 1st quarter. TCTC Holdings LLC now owns 104 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 56 shares during the last quarter. 95.66% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Greg Gates sold 1,500 shares of LPL Financial stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $376.43, for a total transaction of $564,645.00. Following the completion of the transaction, the director directly owned 15,370 shares of the company’s stock, valued at $5,785,729.10. The trade was a 8.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Aneri Jambusaria sold 80 shares of the business’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $361.25, for a total transaction of $28,900.00. Following the completion of the transaction, the director owned 5,582 shares of the company’s stock, valued at approximately $2,016,497.50. This represents a 1.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 3,830 shares of company stock worth $1,336,675 in the last ninety days. Corporate insiders own 1.30% of the company’s stock.

LPL Financial Price Performance

Shares of LPLA opened at $376.65 on Thursday. The business’s 50-day moving average is $341.72 and its two-hundred day moving average is $360.12. The company has a market capitalization of $30.15 billion, a P/E ratio of 34.68, a P/E/G ratio of 0.83 and a beta of 0.63. LPL Financial Holdings Inc. has a fifty-two week low of $262.83 and a fifty-two week high of $403.58. The company has a debt-to-equity ratio of 1.49, a quick ratio of 2.60 and a current ratio of 2.60.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data on Thursday, October 30th. The financial services provider reported $5.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.49 by $0.71. The business had revenue of $4.55 billion during the quarter, compared to analysts’ expectations of $4.08 billion. LPL Financial had a return on equity of 36.80% and a net margin of 5.35%.The company’s revenue for the quarter was up 46.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.16 EPS. Research analysts predict 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 Monday, December 1st. Shareholders of record on Thursday, November 13th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.3%. The ex-dividend date is Thursday, November 13th. LPL Financial’s dividend payout ratio is currently 11.05%.

Analysts Set New Price Targets

Several brokerages recently weighed in on LPLA. JMP Securities set a $475.00 target price on LPL Financial in a research note on Friday, October 31st. Morgan Stanley lowered their price target on LPL Financial from $490.00 to $462.00 and set an “overweight” rating for the company in a report on Wednesday, October 1st. Citigroup restated an “outperform” rating on shares of LPL Financial in a report on Friday, October 31st. TD Cowen increased their price objective on shares of LPL Financial from $356.00 to $410.00 and gave the company a “hold” rating in a research report on Monday, November 3rd. Finally, UBS Group set a $455.00 target price on shares of LPL Financial in a research report on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, LPL Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $429.00.

LPL Financial 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, fixed income, alternative investments, retirement and 529 education savings plans, and insurance.