Insider Selling: LPL Financial (NASDAQ:LPLA) Insider Sells $153,067.20 in Stock

by · The Cerbat Gem

LPL Financial Holdings Inc. (NASDAQ:LPLA – Get Free Report) insider Katharine Reeping sold 440 shares of the company’s stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $347.88, for a total transaction of $153,067.20. Following the completion of the sale, the insider directly owned 1,774 shares of the company’s stock, valued at $617,139.12. The trade was a 19.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

LPL Financial Price Performance

Shares of NASDAQ LPLA opened at $333.04 on Thursday. The company has a market capitalization of $26.22 billion, a PE ratio of 26.56, a PEG ratio of 0.57 and a beta of 0.48. The company has a quick ratio of 2.39, a current ratio of 2.39 and a debt-to-equity ratio of 1.30. The stock’s 50 day moving average price is $349.41 and its 200-day moving average price is $317.01. LPL Financial Holdings Inc. has a twelve month low of $260.15 and a twelve month high of $400.16.

LPL Financial (NASDAQ:LPLA – Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The financial services provider reported $5.84 EPS for the quarter, beating analysts’ consensus estimates of $5.39 by $0.45. LPL Financial had a return on equity of 32.20% and a net margin of 5.13%.The company had revenue of $5.19 billion during the quarter, compared to the consensus estimate of $5.04 billion. During the same period last year, the business posted $4.51 earnings per share. LPL Financial’s revenue was up 35.2% on a year-over-year basis. On average, equities analysts anticipate that LPL Financial Holdings Inc. will post 24.06 EPS for the current year.

LPL Financial Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.20 annualized dividend and a dividend yield of 0.4%. LPL Financial’s dividend payout ratio (DPR) is currently 9.57%.

Institutional Investors Weigh In On LPL Financial

Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in LPL Financial during the 2nd quarter worth about $1,333,189,000. Capital World Investors increased its position in shares of LPL Financial by 37.9% during the fourth quarter. Capital World Investors now owns 3,625,357 shares of the financial services provider’s stock valued at $1,294,869,000 after buying an additional 996,806 shares during the period. Janus Henderson Group PLC increased its position in shares of LPL Financial by 9.0% during the fourth quarter. Janus Henderson Group PLC now owns 3,377,553 shares of the financial services provider’s stock valued at $1,206,371,000 after buying an additional 280,202 shares during the period. Jupiter Topco LLC purchased a new stake in shares of LPL Financial in the second quarter worth about $1,182,595,000. Finally, Principal Financial Group Inc. lifted its holdings in shares of LPL Financial by 36.3% in the first quarter. Principal Financial Group Inc. now owns 2,636,544 shares of the financial services provider’s stock worth $793,163,000 after buying an additional 702,061 shares in the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Analyst Ratings Changes

LPLA has been the topic of a number of research analyst reports. William Blair reissued an “outperform” rating on shares of LPL Financial in a report on Thursday, June 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LPL Financial in a research report on Friday, July 24th. Wolfe Research reiterated an “outperform” rating and issued a $454.00 target price on shares of LPL Financial in a research note on Wednesday, August 12th. Truist Financial initiated coverage on shares of LPL Financial in a research note on Tuesday, September 1st. They issued a “hold” rating and a $389.00 target price on the stock. Finally, BMO Capital Markets increased their target price on shares of LPL Financial from $300.00 to $390.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. Twelve research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, LPL Financial currently has an average rating of “Moderate Buy” and an average price target of $405.79.

View Our Latest Stock Report on LPLA

LPL Financial Company Profile

(Get Free Report)

LPL Financial Holdings Inc (NASDAQ:LPLA) is the parent company of LPL Financial LLC, an independent broker-dealer and registered investment adviser that provides services and support to financial advisors. Rather than operating primarily through a proprietary branch network, LPL enables independent financial professionals, registered investment advisers, and advisors affiliated with banks and credit unions to operate their own practices while accessing investment products, technology, and business resources.

The company’s platform supports brokerage and fee-based advisory services, retirement plan services, insurance and annuity products, alternative investments, cash management, research, compliance, and practice management.

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