LVW Advisors LLC boosted its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA – Get Rating) by 4.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,290 shares of the financial services provider's stock after acquiring an additional 243 shares during the quarter. LVW Advisors LLC's holdings in LPL Financial were worth $976,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. King Luther Capital Management Corp raised its position in LPL Financial by 2.4% during the first quarter. King Luther Capital Management Corp now owns 8,630 shares of the financial services provider's stock worth $1,577,000 after acquiring an additional 200 shares in the last quarter. Prospera Financial Services Inc bought a new position in shares of LPL Financial in the first quarter valued at about $222,000. XML Financial LLC bought a new position in shares of LPL Financial in the first quarter valued at about $215,000. Argent Trust Co bought a new position in shares of LPL Financial in the first quarter valued at about $694,000. Finally, William Blair Investment Management LLC raised its position in shares of LPL Financial by 38.3% in the first quarter. William Blair Investment Management LLC now owns 172,828 shares of the financial services provider's stock valued at $31,572,000 after purchasing an additional 47,824 shares during the period.
Get LPL Financial alerts:LPL Financial Trading Up 0.9 %
LPLA opened at $218.48 on Friday. The company's 50 day moving average is $221.96 and its 200-day moving average is $199.96. LPL Financial Holdings Inc. has a 1-year low of $140.65 and a 1-year high of $236.58. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 1.48. The company has a market cap of $17.43 billion, a P/E ratio of 35.30, a PEG ratio of 0.56 and a beta of 0.94.
LPL Financial (NASDAQ:LPLA – Get Rating) last posted its quarterly earnings results on Tuesday, August 2nd. The financial services provider reported $2.24 earnings per share for the quarter, beating analysts' consensus estimates of $2.01 by $0.23. LPL Financial had a net margin of 6.15% and a return on equity of 36.15%. The company had revenue of $2.04 billion for the quarter. Equities research analysts predict that LPL Financial Holdings Inc. will post 10.43 earnings per share for the current fiscal year.LPL Financial Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 31st. Investors of record on Wednesday, August 17th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, August 16th. This represents a $1.00 annualized dividend and a yield of 0.46%. LPL Financial's dividend payout ratio is presently 16.16%.
Insider Buying and Selling
In related news, CEO Dan H. Arnold sold 11,391 shares of LPL Financial stock in a transaction that occurred on Wednesday, August 17th. The shares were 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 in the company, valued at approximately $37,502,283.04. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other LPL Financial news, CEO Dan H. Arnold sold 39,015 shares of the firm's stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $210.33, for a total transaction of $8,206,024.95. Following the completion of the transaction, the chief executive officer now owns 162,608 shares in the company, valued at approximately $34,201,340.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Dan H. Arnold sold 11,391 shares of the firm'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 transaction, the chief executive officer now owns 162,608 shares of the company's stock, valued at approximately $37,502,283.04. The disclosure for this sale can be found here. Insiders have sold a total of 67,761 shares of company stock worth $14,682,118 in the last ninety days. Company insiders own 1.60% of the company's stock.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on LPLA shares. UBS Group increased their price objective on shares of LPL Financial from $212.00 to $250.00 and gave the company a "buy" rating in a research report on Thursday, August 4th. Morgan Stanley lowered their price target on shares of LPL Financial from $241.00 to $239.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 3rd. Finally, StockNews.com raised shares of LPL Financial from a "sell" rating to a "hold" rating in a research report 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. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $235.83.
LPL Financial Company 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.
Read More
- Get a free copy of the StockNews.com research report on LPL Financial (LPLA)
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