Aneri Jambusaria Sells 308 Shares of LPL Financial (NASDAQ:LPLA) Stock

LPL Financial Holdings Inc. (NASDAQ:LPLA) Director Aneri Jambusaria sold 308 shares of LPL Financial stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $357.36, for a total value of $110,066.88. Following the completion of the transaction, the director owned 6,107 shares of the company’s stock, valued at approximately $2,182,397.52. This represents a 4.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through 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 value of $94,248.00.

LPL Financial Price Performance

LPLA traded down $0.55 during trading on Monday, hitting $370.14. The company’s stock had a trading volume of 745,208 shares, compared to its average volume of 915,269. The firm has a market capitalization of $29.15 billion, a price-to-earnings ratio of 29.52, a P/E/G ratio of 0.62 and a beta of 0.48. LPL Financial Holdings Inc. has a twelve month low of $260.15 and a twelve month high of $400.16. The business’s fifty day simple moving average is $333.13 and its 200 day simple moving average is $314.67. The company has a current ratio of 2.39, a quick ratio of 2.39 and a debt-to-equity ratio of 1.30.

LPL Financial (NASDAQ:LPLA) last announced its earnings results on Thursday, July 30th. The financial services provider reported $5.84 earnings per share (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 firm had revenue of $5.19 billion for the quarter, compared to analyst estimates of $5.04 billion. During the same quarter last year, the firm posted $4.51 EPS. The business’s revenue was up 35.2% on a year-over-year basis. On average, equities research analysts forecast that LPL Financial Holdings Inc. will post 24.09 EPS for the current fiscal year.

LPL Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were given a $0.30 dividend. The ex-dividend date was Friday, August 14th. This represents a $1.20 annualized dividend and a dividend yield of 0.3%. LPL Financial’s dividend payout ratio (DPR) is 9.57%.

Institutional Investors Weigh In On LPL Financial

A number of hedge funds have recently modified their holdings of the company. California State Teachers Retirement System boosted its holdings in LPL Financial by 29,129.4% in the 2nd quarter. California State Teachers Retirement System now owns 34,308,342 shares of the financial services provider’s stock valued at $9,663,974,000 after purchasing an additional 34,190,966 shares during the last quarter. BlackRock Inc. purchased a new position in LPL Financial in the second quarter worth approximately $1,333,189,000. Jupiter Topco LLC acquired a new stake in LPL Financial during the second quarter worth $1,182,595,000. Dodge & Cox increased its stake in LPL Financial by 18.6% during the fourth quarter. Dodge & Cox now owns 3,948,970 shares of the financial services provider’s stock worth $1,410,454,000 after acquiring an additional 619,715 shares during the last quarter. Finally, Janus Henderson Group PLC raised its position in LPL Financial by 8.6% in the first quarter. Janus Henderson Group PLC now owns 3,666,780 shares of the financial services provider’s stock valued at $1,103,079,000 after purchasing an additional 289,227 shares during the period. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on LPLA shares. Morgan Stanley lifted their price target on LPL Financial from $374.00 to $387.00 and gave the stock an “overweight” rating in a research note on Friday, July 10th. Wolfe Research reissued an “outperform” rating and issued a $454.00 price target on shares of LPL Financial in a research note on Wednesday, August 12th. UBS Group lowered their price target on shares of LPL Financial from $395.00 to $391.00 and set a “buy” rating on the stock in a research report on Wednesday, July 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LPL Financial in a research note on Friday, July 24th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of LPL Financial from $365.00 to $390.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Twelve research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $406.69.

LPL Financial Company 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.