WJ Wealth Management LLC lifted its position in LPL Financial Holdings Inc. (NASDAQ:LPLA – Free Report) by 100.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,000 shares of the financial services provider’s stock after buying an additional 1,000 shares during the period. WJ Wealth Management LLC’s holdings in LPL Financial were worth $435,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in LPLA. Harbor Capital Advisors Inc. acquired a new position in LPL Financial in the 2nd quarter worth about $40,000. Janiczek Wealth Management LLC increased its holdings in LPL Financial by 267.6% in the second quarter. Janiczek Wealth Management LLC now owns 136 shares of the financial services provider’s stock worth $30,000 after buying an additional 99 shares during the last quarter. Gradient Investments LLC raised its position in LPL Financial by 19.6% during the second quarter. Gradient Investments LLC now owns 18,637 shares of the financial services provider’s stock valued at $4,052,000 after acquiring an additional 3,056 shares in the last quarter. Darlington Partners Capital Management LP lifted its stake in LPL Financial by 9.1% in the first quarter. Darlington Partners Capital Management LP now owns 653,266 shares of the financial services provider’s stock valued at $132,221,000 after acquiring an additional 54,272 shares during the last quarter. Finally, DGS Capital Management LLC grew its position in LPL Financial by 14.7% in the first quarter. DGS Capital Management LLC now owns 1,315 shares of the financial services provider’s stock worth $266,000 after acquiring an additional 169 shares in the last quarter. Institutional investors own 92.84% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on LPLA. Bank of America lifted their target price on LPL Financial from $232.00 to $233.00 in a research report on Sunday, July 30th. JMP Securities reissued a “market outperform” rating and set a $290.00 price objective on shares of LPL Financial in a report on Friday, August 18th. StockNews.com initiated coverage on LPL Financial in a research report on Thursday, August 17th. They issued a “hold” rating for the company. Jefferies Financial Group boosted their price target on shares of LPL Financial from $246.00 to $253.00 in a report on Monday, July 10th. Finally, Morgan Stanley boosted their price target on LPL Financial from $238.00 to $243.00 and gave the company an “equal weight” rating in a research note on Monday, July 31st. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, LPL Financial currently has a consensus rating of “Hold” and a consensus price target of $248.60.
LPL Financial Stock Down 1.1 %
NASDAQ:LPLA traded down $2.68 during trading hours on Monday, reaching $244.40. 217,060 shares of the stock were exchanged, compared to its average volume of 795,787. The stock has a market cap of $18.65 billion, a PE ratio of 16.45, a PEG ratio of 0.79 and a beta of 0.92. LPL Financial Holdings Inc. has a twelve month low of $179.00 and a twelve month high of $271.56. The firm has a 50 day moving average of $231.34 and a 200 day moving average of $214.48. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.74 and a quick ratio of 1.74.
LPL Financial (NASDAQ:LPLA – Get Free Report) last posted its earnings results on Thursday, July 27th. The financial services provider reported $3.94 earnings per share for the quarter, topping analysts’ consensus estimates of $3.87 by $0.07. The business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.44 billion. LPL Financial had a return on equity of 59.52% and a net margin of 12.53%. The firm’s revenue was up 21.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.24 EPS. On average, equities analysts expect that LPL Financial Holdings Inc. will post 16.33 earnings per share for the current year.
LPL Financial Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Friday, August 11th were issued a dividend of $0.30 per share. The ex-dividend date was Thursday, August 10th. This represents a $1.20 annualized dividend and a dividend yield of 0.49%. LPL Financial’s dividend payout ratio is presently 8.16%.
Insider Buying and Selling
In related news, Director Richard Steinmeier sold 10,300 shares of the stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $242.68, for a total transaction of $2,499,604.00. Following the sale, the director now owns 16,914 shares in the company, valued at approximately $4,104,689.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other LPL Financial news, Director Matthew Enyedi sold 3,265 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $230.86, for a total value of $753,757.90. Following the completion of the transaction, the director now owns 9,978 shares of the company’s stock, valued at approximately $2,303,521.08. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Richard Steinmeier sold 10,300 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $242.68, for a total value of $2,499,604.00. Following the completion of the transaction, the director now directly owns 16,914 shares of the company’s stock, valued at approximately $4,104,689.52. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.
LPL Financial Company 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, 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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