United Capital Financial Advisors LLC purchased a new position in LPL Financial Holdings Inc. (NASDAQ:LPLA – Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 2,193 shares of the financial services provider’s stock, valued at approximately $618,000.
A number of other hedge funds have also bought and sold shares of the company. Osterweis Capital Management Inc. acquired a new stake in LPL Financial during the second quarter valued at approximately $26,000. Clearstead Advisors LLC grew its position in shares of LPL Financial by 3,650.0% in the 4th quarter. Clearstead Advisors LLC now owns 75 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 73 shares in the last quarter. Core Wealth Advisors LLC acquired a new position in shares of LPL Financial in the 4th quarter worth approximately $36,000. Physician Wealth Advisors Inc. increased its stake in LPL Financial by 580.0% during the first quarter. Physician Wealth Advisors Inc. now owns 136 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 116 shares during the last quarter. Finally, Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in shares of LPL Financial during the 4th quarter valued at about $50,000. 95.66% of the stock is currently owned by institutional investors and hedge funds.
LPL Financial Stock Performance
LPLA opened at $370.14 on Tuesday. The firm has a market cap of $29.14 billion, a PE ratio of 29.52, a P/E/G ratio of 0.62 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 business has a fifty day simple moving average of $334.58 and a 200-day simple moving average of $314.74. LPL Financial Holdings Inc. has a fifty-two week low of $260.15 and a fifty-two week high of $400.16.
LPL Financial Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Friday, August 14th. LPL Financial’s dividend payout ratio (DPR) is presently 9.57%.
Insider Transactions at LPL Financial
In other LPL Financial news, Director Aneri Jambusaria sold 308 shares of LPL Financial stock in a transaction that occurred 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 in the company, valued at approximately $2,182,397.52. The trade was a 4.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew Enyedi sold 1,000 shares of the business’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $352.72, for a total transaction of $352,720.00. Following the sale, the director directly owned 13,121 shares in the company, valued at approximately $4,628,039.12. This trade represents a 7.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 5,735 shares of company stock valued at $2,020,845 over the last ninety days. Corporate insiders own 0.60% of the company’s stock.
Wall Street Analysts Forecast Growth
LPLA has been the subject of a number of recent research reports. William Blair restated an “outperform” rating on shares of LPL Financial in a research note on Thursday, June 4th. BMO Capital Markets raised their price target on shares of LPL Financial from $300.00 to $390.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. JPMorgan Chase & Co. boosted their price objective on LPL Financial from $408.00 to $428.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. TD Cowen raised their target price on LPL Financial from $330.00 to $372.00 and gave the company a “hold” rating in a research report on Friday, July 31st. Finally, Keefe, Bruyette & Woods lifted their target price on LPL Financial from $365.00 to $390.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Twelve equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, LPL Financial presently has a consensus rating of “Moderate Buy” and an average target price of $406.69.
View Our Latest Report on LPLA
LPL Financial Profile
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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