Corient Private Wealth LLC Sells 1,693 Shares of LPL Financial Holdings Inc. $LPLA

Corient Private Wealth LLC trimmed its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 4.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,843 shares of the financial services provider’s stock after selling 1,693 shares during the quarter. Corient Private Wealth LLC’s holdings in LPL Financial were worth $14,190,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Osterweis Capital Management Inc. bought a new stake in shares of LPL Financial during the second quarter valued at approximately $26,000. SBI Securities Co. Ltd. increased its holdings in LPL Financial by 116.2% during the 2nd 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. Maseco LLP bought a new stake in LPL Financial during the 2nd quarter valued at $34,000. Bayforest Capital Ltd bought a new stake in LPL Financial during the 2nd quarter valued at $34,000. Finally, Graney & King LLC lifted its holdings in shares of LPL Financial by 49.5% in the 2nd quarter. Graney & King LLC now owns 139 shares of the financial services provider’s stock worth $52,000 after buying an additional 46 shares during the period. 95.66% of the stock is currently owned by institutional investors.

Insider Activity at LPL Financial

In other LPL Financial news, CEO Richard Steinmeier sold 5,058 shares of the company’s stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $370.99, for a total value of $1,876,467.42. Following the completion of the transaction, the chief executive officer owned 9,326 shares in the company, valued at approximately $3,459,852.74. This represents a 35.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Aneri Jambusaria sold 80 shares of the stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $352.48, for a total value of $28,198.40. Following the transaction, the director owned 5,502 shares in the company, valued at $1,939,344.96. This represents a 1.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 8,138 shares of company stock worth $2,983,353 over the last three months. Company insiders own 1.30% of the company’s stock.

LPL Financial Stock Down 0.8%

LPL Financial stock opened at $352.74 on Friday. The business’s 50-day simple moving average is $356.54 and its two-hundred day simple moving average is $360.39. The company has a debt-to-equity ratio of 1.49, a quick ratio of 2.60 and a current ratio of 2.60. The company has a market cap of $28.23 billion, a PE ratio of 32.48, a PEG ratio of 0.88 and a beta of 0.60. LPL Financial Holdings Inc. has a fifty-two week low of $262.83 and a fifty-two week high of $403.58.

LPL Financial (NASDAQ:LPLA) last issued its earnings results on Thursday, October 30th. The financial services provider reported $5.20 EPS for the quarter, beating analysts’ consensus estimates of $4.49 by $0.71. LPL Financial had a return on equity of 36.80% and a net margin of 5.35%.The firm had revenue of $4.55 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same quarter in the prior year, the firm earned $4.16 earnings per share. LPL Financial’s revenue for the quarter was up 46.4% on a year-over-year basis. Equities analysts anticipate that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Thursday, November 13th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Thursday, November 13th. LPL Financial’s dividend payout ratio (DPR) is 11.05%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. TD Cowen lifted their price objective on LPL Financial from $356.00 to $410.00 and gave the company a “hold” rating in a report on Monday, November 3rd. Barclays boosted their price target on shares of LPL Financial from $420.00 to $453.00 and gave the company an “overweight” rating in a report on Friday, December 12th. Rothschild Redb cut shares of LPL Financial from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 19th. Weiss Ratings reissued a “hold (c)” rating on shares of LPL Financial in a report on Friday, October 31st. Finally, Citigroup reissued an “outperform” rating on shares of LPL Financial in a research note on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $427.86.

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.