Key Points
- Director Aneri Jambusaria sold 308 LPL Financial shares at an average price of $357.36, generating $110,066.88. The sale, conducted under a pre-arranged Rule 10b5-1 plan, reduced the director’s position by 4.8% to 6,107 shares.
- LPL Financial reported quarterly earnings of $5.84 per share, exceeding estimates of $5.39, while revenue rose 35.2% year over year to $5.19 billion.
- Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $406.69; institutional investors own 95.66% of the company.
LPL Financial Holdings Inc. (NASDAQ:LPLA - Get Free Report) Director Aneri Jambusaria sold 308 shares of the firm's stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $357.36, for a total transaction of $110,066.88. Following the transaction, the director directly owned 6,107 shares of the company's stock, valued at $2,182,397.52. The trade was a 4.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Aneri Jambusaria also recently made the following trade(s):
- On Wednesday, June 17th, Aneri Jambusaria sold 308 shares of LPL Financial stock. The stock was sold at an average price of $306.00, for a total transaction of $94,248.00.
LPL Financial Stock Performance
Shares of LPL Financial stock opened at $370.14 on Tuesday. The company has a quick ratio of 2.39, a current ratio of 2.39 and a debt-to-equity ratio of 1.30. LPL Financial Holdings Inc. has a twelve month low of $260.15 and a twelve month high of $400.16. The stock has a market cap of $29.14 billion, a price-to-earnings ratio of 29.52, a P/E/G ratio of 0.62 and a beta of 0.48. The company's fifty day moving average is $334.58 and its 200 day moving average is $314.74.
LPL Financial (NASDAQ:LPLA - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $5.84 earnings per share for the quarter, beating analysts' consensus estimates of $5.39 by $0.45. The business had revenue of $5.19 billion during the quarter, compared to the consensus estimate of $5.04 billion. LPL Financial had a return on equity of 32.20% and a net margin of 5.13%.LPL Financial's quarterly revenue was up 35.2% on a year-over-year basis. During the same period in the prior year, the business posted $4.51 earnings per share. Sell-side analysts forecast that LPL Financial Holdings Inc. will post 24.09 EPS for the current year.
LPL Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Friday, August 14th. LPL Financial's dividend payout ratio (DPR) is 9.57%.
Wall Street Analyst Weigh In
Several analysts recently commented on LPLA shares. Weiss Ratings reiterated a "hold (c)" rating on shares of LPL Financial in a report on Friday, July 24th. William Blair restated an "outperform" rating on shares of LPL Financial in a research report on Thursday, June 4th. Morgan Stanley upped their price objective on shares of LPL Financial from $374.00 to $387.00 and gave the company an "overweight" rating in a research note on Friday, July 10th. Keefe, Bruyette & Woods increased their price objective on shares of LPL Financial from $365.00 to $390.00 and gave the stock an "outperform" rating in a research report on Friday, July 31st. Finally, TD Cowen lifted their target price on shares of LPL Financial from $330.00 to $372.00 and gave the stock a "hold" rating in a research note on Friday, July 31st. Twelve analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $406.69.
View Our Latest Analysis on LPL Financial
Institutional Investors Weigh In On LPL Financial
A number of hedge funds have recently added to or reduced their stakes in the business. NewEdge Advisors LLC boosted its holdings in shares of LPL Financial by 42.7% during the 1st quarter. NewEdge Advisors LLC now owns 3,525 shares of the financial services provider's stock worth $1,153,000 after buying an additional 1,055 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of LPL Financial by 0.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 209,126 shares of the financial services provider's stock valued at $68,414,000 after acquiring an additional 1,089 shares in the last quarter. Woodline Partners LP acquired a new position in shares of LPL Financial during the 1st quarter valued at $1,636,000. Focus Partners Wealth lifted its position in shares of LPL Financial by 12.2% during the 1st quarter. Focus Partners Wealth now owns 4,360 shares of the financial services provider's stock valued at $1,426,000 after acquiring an additional 473 shares during the period. Finally, Acadian Asset Management LLC acquired a new position in shares of LPL Financial during the 1st quarter valued at $121,000. 95.66% of the stock is currently owned by institutional investors.
About LPL Financial
(
Get Free Report)
LPL Financial (NASDAQ: LPLA) is a U.S.-focused financial services firm that provides brokerage, custodial and advisory platforms to independent financial advisors, registered investment advisers and institutions. Operating primarily as an independent broker-dealer and custodian, the company supports a network of advisors with the operational, compliance and clearing infrastructure needed to manage client accounts and deliver investment advice outside of traditional wirehouse models.
The firm's product and service offerings include trade execution and clearing, custody services, retirement plan services, model portfolio and advisory platforms, wealth management technology, investment research and product access across equities, fixed income, mutual funds, exchange-traded funds and insurance and annuity solutions.
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