Cerity Partners LLC purchased a new stake in LPL Financial Holdings Inc. (NASDAQ:LPLA – Get Rating) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 5,228 shares of the financial services provider’s stock, valued at approximately $955,000.
A number of other large investors have also bought and sold shares of the stock. Community Trust & Investment Co. boosted its stake in LPL Financial by 0.7% during the first quarter. Community Trust & Investment Co. now owns 41,497 shares of the financial services provider’s stock valued at $7,581,000 after buying an additional 271 shares during the period. Allworth Financial LP bought a new stake in LPL Financial during the first quarter valued at $28,000. Truist Financial Corp boosted its stake in LPL Financial by 11.2% during the first quarter. Truist Financial Corp now owns 41,446 shares of the financial services provider’s stock valued at $7,572,000 after buying an additional 4,162 shares during the period. CWM LLC boosted its stake in LPL Financial by 59.7% during the first quarter. CWM LLC now owns 602 shares of the financial services provider’s stock valued at $110,000 after buying an additional 225 shares during the period. Finally, Cornerstone Wealth Management LLC boosted its stake in LPL Financial by 1.1% during the first quarter. Cornerstone Wealth Management LLC now owns 16,688 shares of the financial services provider’s stock valued at $3,049,000 after buying an additional 185 shares during the period. 96.06% of the stock is owned by institutional investors.
In related news, Director Michelle Oroschakoff sold 15,724 shares of the business’s stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $172.23, for a total transaction of $2,708,144.52. Following the transaction, the director now owns 42,068 shares in the company, valued at approximately $7,245,371.64. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Dan H. Arnold sold 19,508 shares of the business’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 transaction, the chief executive officer now owns 162,608 shares in the company, valued at approximately $32,580,138.88. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.
LPLA opened at $181.84 on Monday. The company has a market cap of $14.54 billion, a P/E ratio of 32.01, a P/E/G ratio of 0.51 and a beta of 0.95. The business’s 50-day moving average price is $185.85 and its 200-day moving average price is $181.33. 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.
LPL Financial (NASDAQ:LPLA – Get Rating) last released its quarterly earnings data on Thursday, April 28th. The financial services provider reported $1.95 EPS for the quarter, topping the consensus estimate of $1.79 by $0.16. The firm had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.14 billion. LPL Financial had a return on equity of 35.82% and a net margin of 5.74%. The company’s quarterly revenue was up 21.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.77 earnings per share. Equities research analysts forecast that LPL Financial Holdings Inc. will post 9.61 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 24th. Stockholders of record on Thursday, June 9th were issued a $0.25 dividend. The ex-dividend date was Wednesday, June 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.55%. LPL Financial’s dividend payout ratio is currently 17.61%.
Several equities research analysts recently issued reports on the company. Citigroup lifted their price objective on LPL Financial from $225.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, April 14th. StockNews.com lowered LPL Financial from a “hold” rating to a “sell” rating in a research note on Monday, May 2nd. Truist Financial lifted their price target on LPL Financial from $200.00 to $230.00 in a research note on Tuesday, May 3rd. JMP Securities raised LPL Financial from a “market perform” rating to an “outperform” rating and set a $242.00 price target for the company in a research note on Thursday, April 7th. Finally, Morgan Stanley lifted their price target on LPL Financial from $246.00 to $263.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 13th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average 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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Source: defenseworld.net
