Key Points
- CEO Richard Steinmeier sold 5,058 shares on Dec. 5 for a total of $1,876,467.42, reducing his stake by 35.16% to 9,326 shares valued at about $3.46 million.
- LPL reported a strong quarter, with adjusted EPS of $5.20 vs. $4.49 expected and revenue of $4.55 billion (vs. $4.08B est.), with quarterly revenue up 46.4% year‑over‑year and ROE of 36.8%.
- The stock carries a market cap of ~$29.99 billion and a PE of 34.5, pays a $0.30 quarterly dividend (annualized $1.20, yield ~0.3%), and has an average analyst rating of “Moderate Buy” with a $429 average target.
LPL Financial Holdings Inc. (NASDAQ:LPLA - Get Free Report) Director Greg Gates sold 750 shares of the stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $370.97, for a total value of $278,227.50. Following the transaction, the director owned 14,620 shares in the company, valued at $5,423,581.40. This trade represents a 4.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Greg Gates also recently made the following trade(s):
- On Wednesday, November 5th, Greg Gates sold 1,500 shares of LPL Financial stock. The shares were sold at an average price of $376.43, for a total value of $564,645.00.
- On Monday, October 6th, Greg Gates sold 750 shares of LPL Financial stock. The shares were sold at an average price of $314.42, for a total transaction of $235,815.00.
LPL Financial Price Performance
LPLA opened at $374.71 on Wednesday. The company's 50 day simple moving average is $348.97 and its 200 day simple moving average is $360.55. The company has a debt-to-equity ratio of 1.49, a quick ratio of 2.60 and a current ratio of 2.60. LPL Financial Holdings Inc. has a 1 year low of $262.83 and a 1 year high of $403.58. The stock has a market capitalization of $29.99 billion, a PE ratio of 34.50, a P/E/G ratio of 0.81 and a beta of 0.60.
LPL Financial (NASDAQ:LPLA - Get Free Report) last issued its quarterly earnings results on Thursday, October 30th. The financial services provider reported $5.20 EPS for the quarter, topping the consensus estimate of $4.49 by $0.71. The firm had revenue of $4.55 billion during the quarter, compared to analyst estimates of $4.08 billion. LPL Financial had a net margin of 5.35% and a return on equity of 36.80%. LPL Financial's revenue for the quarter was up 46.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.16 earnings per share. As a group, sell-side analysts expect that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.
LPL Financial Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Thursday, November 13th were given a $0.30 dividend. 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%.
Hedge Funds Weigh In On LPL Financial
Institutional investors and hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. raised its stake in shares of LPL Financial by 5.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 354,001 shares of the financial services provider's stock valued at $115,808,000 after purchasing an additional 18,252 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in LPL Financial by 6.6% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 58,251 shares of the financial services provider's stock valued at $19,056,000 after purchasing an additional 3,620 shares in the last quarter. Citigroup Inc. grew its holdings in LPL Financial by 61.2% during the 1st quarter. Citigroup Inc. now owns 46,653 shares of the financial services provider's stock valued at $15,262,000 after purchasing an additional 17,720 shares in the last quarter. National Bank of Canada FI increased its stake in LPL Financial by 1,506.0% during the 1st quarter. National Bank of Canada FI now owns 23,479 shares of the financial services provider's stock worth $7,680,000 after buying an additional 22,017 shares during the period. Finally, Cynosure Group LLC lifted its holdings in LPL Financial by 13.6% in the 1st quarter. Cynosure Group LLC now owns 1,005 shares of the financial services provider's stock worth $329,000 after buying an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 95.66% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on LPLA. Raymond James Financial raised LPL Financial from an "underperform" rating to a "market perform" rating in a research report on Thursday, October 9th. Citizens Jmp boosted their target price on LPL Financial from $455.00 to $475.00 and gave the stock a "market outperform" rating in a report on Friday, October 31st. Rothschild Redb downgraded shares of LPL Financial from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 19th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of LPL Financial in a research report on Friday, October 31st. Finally, Barclays boosted their price objective on shares of LPL Financial from $411.00 to $420.00 and gave the stock an "overweight" rating in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $429.00.
Check Out Our Latest Research Report on LPL Financial
LPL Financial Company Profile
(
Get Free Report)
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.
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