FCF Advisors LLC lessened its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA – Get Rating) by 3.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,819 shares of the financial services provider's stock after selling 318 shares during the quarter. FCF Advisors LLC's holdings in LPL Financial were worth $1,442,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in LPL Financial by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 7,011,365 shares of the financial services provider's stock worth $1,280,836,000 after buying an additional 93,283 shares during the last quarter. Wellington Management Group LLP raised its position in LPL Financial by 7.5% in the 1st quarter. Wellington Management Group LLP now owns 3,574,135 shares of the financial services provider's stock worth $652,923,000 after buying an additional 248,255 shares during the last quarter. Invesco Ltd. raised its position in LPL Financial by 16.2% in the 1st quarter. Invesco Ltd. now owns 2,364,882 shares of the financial services provider's stock worth $432,017,000 after buying an additional 329,899 shares during the last quarter. JPMorgan Chase & Co. raised its position in LPL Financial by 11.9% in the 1st quarter. JPMorgan Chase & Co. now owns 1,483,000 shares of the financial services provider's stock worth $270,914,000 after buying an additional 157,918 shares during the last quarter. Finally, State Street Corp raised its position in LPL Financial by 1.7% in the 1st quarter. State Street Corp now owns 1,246,874 shares of the financial services provider's stock worth $227,779,000 after buying an additional 20,751 shares during the last quarter.
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Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on the company. UBS Group boosted their target price on LPL Financial from $212.00 to $250.00 and gave the stock a "buy" rating in a research report on Thursday, August 4th. Morgan Stanley cut their price target on LPL Financial from $241.00 to $239.00 and set an "overweight" rating for the company in a research note on Wednesday, August 3rd. Finally, StockNews.com upgraded LPL Financial from a "sell" rating to a "hold" rating in a research note on Thursday, August 4th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $235.83.
Insiders Place Their Bets
In other LPL Financial news, CEO Dan H. Arnold sold 11,391 shares of the company's stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $230.63, for a total value of $2,627,106.33. Following the completion of the transaction, the chief executive officer now directly owns 162,608 shares in the company, valued at approximately $37,502,283.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at
the SEC website. In other news, CEO Dan H. Arnold sold 11,391 shares of the company's stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $230.63, for a total transaction of $2,627,106.33. Following the sale, the chief executive officer now directly owns 162,608 shares of the company's stock, valued at approximately $37,502,283.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through
this hyperlink. Also, CEO Dan H. Arnold sold 39,015 shares of the company's stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $210.33, for a total value of $8,206,024.95. Following the sale, the chief executive officer now directly owns 162,608 shares in the company, valued at $34,201,340.64. The disclosure for this sale can be found
here. Insiders sold 67,761 shares of company stock worth $14,682,118 in the last three months. 1.60% of the stock is owned by company insiders.
LPL Financial Trading Up 1.7 %
Shares of NASDAQ:LPLA opened at $222.25 on Thursday. The stock has a 50 day moving average of $221.00 and a 200 day moving average of $199.00. The company has a market cap of $17.73 billion, a PE ratio of 35.90, a price-to-earnings-growth ratio of 0.56 and a beta of 0.94. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 1.48. LPL Financial Holdings Inc. has a 12-month low of $140.65 and a 12-month high of $236.58.
LPL Financial (NASDAQ:LPLA – Get Rating) last announced its quarterly earnings data on Tuesday, August 2nd. The financial services provider reported $2.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.01 by $0.23. The company had revenue of $2.04 billion during the quarter. LPL Financial had a return on equity of 36.15% and a net margin of 6.15%. As a group, equities research analysts expect that LPL Financial Holdings Inc. will post 10.43 EPS for the current year.
LPL Financial Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 31st. Shareholders of record on Wednesday, August 17th were paid a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, August 16th. This represents a $1.00 annualized dividend and a yield of 0.45%. LPL Financial's payout ratio is 16.16%.
LPL Financial Profile
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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 financial institutions 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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