Wedge Capital Management L L P NC reduced its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA – Get Rating) by 9.2% in the 1st quarter, Holdings Channel reports. The fund owned 1,570 shares of the financial services provider’s stock after selling 159 shares during the quarter. Wedge Capital Management L L P NC’s holdings in LPL Financial were worth $287,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in LPLA. TFO TDC LLC acquired a new position in shares of LPL Financial in the 4th quarter valued at approximately $44,000. Steward Partners Investment Advisory LLC lifted its stake in LPL Financial by 235.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 285 shares of the financial services provider’s stock valued at $46,000 after buying an additional 200 shares in the last quarter. Covestor Ltd acquired a new position in shares of LPL Financial in the fourth quarter valued at approximately $47,000. CWM LLC bought a new stake in shares of LPL Financial during the fourth quarter worth $60,000. Finally, Spire Wealth Management raised its holdings in shares of LPL Financial by 138.4% during the fourth quarter. Spire Wealth Management now owns 379 shares of the financial services provider’s stock worth $61,000 after acquiring an additional 220 shares during the period. 96.06% of the stock is currently owned by institutional investors.
In other LPL Financial news, CEO Dan H. Arnold sold 19,508 shares of the company’s stock in a transaction dated Friday, May 27th. The shares were sold at an average price of $200.36, for a total value of $3,908,622.88. Following the sale, the chief executive officer now owns 162,608 shares in the company, valued at $32,580,138.88. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michelle Oroschakoff sold 15,724 shares of the firm’s stock in a transaction on Monday, May 16th. The shares were sold at an average price of $172.23, for a total value of $2,708,144.52. Following the transaction, the director now owns 42,068 shares of the company’s stock, valued at $7,245,371.64. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.
Shares of NASDAQ:LPLA opened at $188.82 on Friday. The company has a market capitalization of $15.10 billion, a PE ratio of 33.24, a price-to-earnings-growth ratio of 0.49 and a beta of 0.95. The business has a fifty day moving average price of $189.09 and a two-hundred day moving average price of $179.58. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.83 and a quick ratio of 1.83. LPL Financial Holdings Inc. has a 1 year low of $127.03 and a 1 year high of $220.80.
LPL Financial (NASDAQ:LPLA – Get Rating) last posted its earnings results on Thursday, April 28th. The financial services provider reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.16. LPL Financial had a net margin of 5.74% and a return on equity of 35.82%. The firm had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter last year, the company earned $1.77 earnings per share. The company’s revenue was up 21.0% on a year-over-year basis. Sell-side analysts anticipate that LPL Financial Holdings Inc. will post 9.55 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, June 24th. Shareholders of record on Thursday, June 9th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.53%. The ex-dividend date was Wednesday, June 8th. LPL Financial’s dividend payout ratio (DPR) is currently 17.61%.
A number of equities analysts have issued reports on LPLA shares. JMP Securities upgraded LPL Financial from a “market perform” rating to an “outperform” rating and set a $242.00 target price for the company in a report on Thursday, April 7th. Citigroup increased their price objective on LPL Financial from $225.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, April 14th. Truist Financial boosted their target price on LPL Financial from $200.00 to $230.00 in a research note on Tuesday, May 3rd. StockNews.com cut shares of LPL Financial from a “hold” rating to a “sell” rating in a research note on Monday, May 2nd. Finally, Morgan Stanley boosted their price objective on shares of LPL Financial from $246.00 to $263.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 13th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $228.86.
LPL Financial 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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