YHB Investment Advisors Inc. trimmed its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA – Get Rating) by 25.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,780 shares of the financial services provider’s stock after selling 600 shares during the period. YHB Investment Advisors Inc.’s holdings in LPL Financial were worth $325,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Advisor Group Holdings Inc. lifted its holdings in shares of LPL Financial by 5.1% during the fourth quarter. Advisor Group Holdings Inc. now owns 29,953 shares of the financial services provider’s stock valued at $4,799,000 after purchasing an additional 1,448 shares during the last quarter. Atria Investments LLC raised its holdings in LPL Financial by 9.7% in the 4th quarter. Atria Investments LLC now owns 10,623 shares of the financial services provider’s stock worth $1,701,000 after acquiring an additional 936 shares during the last quarter. Victory Capital Management Inc. raised its holdings in LPL Financial by 5.7% in the 4th quarter. Victory Capital Management Inc. now owns 981,643 shares of the financial services provider’s stock worth $157,151,000 after acquiring an additional 52,996 shares during the last quarter. HighTower Advisors LLC raised its holdings in LPL Financial by 3.6% in the 4th quarter. HighTower Advisors LLC now owns 1,683 shares of the financial services provider’s stock worth $268,000 after acquiring an additional 58 shares during the last quarter. Finally, First Republic Investment Management Inc. raised its holdings in LPL Financial by 23.8% in the 4th quarter. First Republic Investment Management Inc. now owns 8,856 shares of the financial services provider’s stock worth $1,418,000 after acquiring an additional 1,700 shares during the last quarter. Hedge funds and other institutional investors own 96.06% of the company’s stock.
A number of equities analysts recently weighed in on LPLA shares. 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 report on Wednesday, April 13th. Truist Financial boosted their price objective on shares of LPL Financial from $200.00 to $230.00 in a report on Tuesday, May 3rd. Citigroup boosted their price objective on shares of LPL Financial from $225.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, April 14th. JMP Securities upgraded shares of LPL Financial from a “market perform” rating to an “outperform” rating and set a $242.00 price objective for the company in a report on Thursday, April 7th. Finally, StockNews.com downgraded shares of LPL Financial from a “hold” rating to a “sell” rating in a research report on Monday, May 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $228.86.
NASDAQ:LPLA opened at $188.82 on Friday. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 1.57. LPL Financial Holdings Inc. has a 12 month low of $127.03 and a 12 month high of $220.80. The company has a market cap 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 company has a 50 day simple moving average of $189.09 and a two-hundred day simple moving average of $179.58.
LPL Financial (NASDAQ:LPLA – Get Rating) last issued its quarterly earnings data on Thursday, April 28th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 in the previous year, the firm posted $1.77 EPS. The company’s revenue for the quarter was up 21.0% compared to the same quarter last year. Research analysts forecast that LPL Financial Holdings Inc. will post 9.55 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 24th. Stockholders of record on Thursday, June 9th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend was Wednesday, June 8th. LPL Financial’s payout ratio is 17.61%.
In related news, Director Michelle Oroschakoff sold 15,724 shares of the company’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 completion of the transaction, the director now owns 42,068 shares of the company’s stock, valued at approximately $7,245,371.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Dan H. Arnold sold 19,508 shares of the company’s stock in a transaction on Friday, May 27th. The stock was sold at an average price of $200.36, for a total transaction of $3,908,622.88. Following the completion of the transaction, the chief executive officer now directly owns 162,608 shares of the company’s stock, valued at approximately $32,580,138.88. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.
About LPL Financial (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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Source: defenseworld.net
