LPL Financial Holdings Inc. $LPLA Shares Sold by Reinhart Partners LLC.

Reinhart Partners LLC. cut its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 17.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,283 shares of the financial services provider’s stock after selling 3,276 shares during the quarter. Reinhart Partners LLC.’s holdings in LPL Financial were worth $4,674,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of LPLA. Physician Wealth Advisors Inc. grew its position in shares of LPL Financial by 580.0% during the 1st quarter. Physician Wealth Advisors Inc. now owns 136 shares of the financial services provider’s stock worth $41,000 after buying an additional 116 shares during the period. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in LPL Financial in the fourth quarter worth $50,000. Reflection Asset Management bought a new stake in LPL Financial in the fourth quarter valued at $50,000. Versant Capital Management Inc increased its stake in LPL Financial by 79.0% in the second quarter. Versant Capital Management Inc now owns 188 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 83 shares in the last quarter. Finally, Abound Financial LLC raised its holdings in shares of LPL Financial by 9,550.0% during the first quarter. Abound Financial LLC now owns 193 shares of the financial services provider’s stock valued at $58,000 after purchasing an additional 191 shares during the period. 95.66% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Matthew Enyedi sold 1,000 shares of the business’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $352.72, for a total transaction of $352,720.00. Following the transaction, the director directly owned 13,121 shares in the company, valued at approximately $4,628,039.12. The trade was a 7.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Aneri Jambusaria sold 308 shares of the company’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $357.36, for a total transaction of $110,066.88. Following the completion of the sale, the director directly owned 6,107 shares of the company’s stock, valued at $2,182,397.52. The trade was a 4.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 5,867 shares of company stock valued at $2,079,664 over the last ninety days. Company insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Truist Financial initiated coverage on LPL Financial in a research note on Tuesday, September 1st. They set a “hold” rating and a $389.00 price target on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LPL Financial in a research report on Friday, July 24th. UBS Group reduced their price target on shares of LPL Financial from $391.00 to $390.00 and set a “buy” rating for the company in a research report on Wednesday. Keefe, Bruyette & Woods upped their price objective on shares of LPL Financial from $365.00 to $390.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of LPL Financial from $428.00 to $445.00 and gave the company an “overweight” rating in a report on Wednesday. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $411.69.

LPL Financial Trading Up 0.9%

Shares of LPL Financial stock opened at $330.88 on Friday. The company has a market capitalization of $26.05 billion, a P/E ratio of 26.39, a price-to-earnings-growth ratio of 0.56 and a beta of 0.53. The stock has a fifty day simple moving average of $345.91 and a 200 day simple moving average of $319.12. LPL Financial Holdings Inc. has a 12-month low of $260.15 and a 12-month high of $400.16. 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 issued its quarterly earnings data on Thursday, July 30th. The financial services provider reported $5.84 earnings per share for the quarter, beating the consensus estimate of $5.39 by $0.45. The business had revenue of $5.19 billion for the quarter, compared to analysts’ expectations of $5.04 billion. LPL Financial had a return on equity of 32.20% and a net margin of 5.13%. The business’s revenue was up 35.2% on a year-over-year basis. During the same period last year, the business earned $4.51 EPS. On average, sell-side analysts anticipate that LPL Financial Holdings Inc. will post 24.14 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Friday, August 14th. LPL Financial’s dividend payout ratio (DPR) is presently 9.57%.

LPL Financial Profile

LPL Financial Holdings Inc is a financial services company that provides brokerage and investment advisory services through a network of independent financial advisors. Operating primarily in the United States, the company supports advisors who serve individuals, families, businesses and retirement plan participants.

LPL Financial’s platform offers access to investment products and services, including equities, bonds, mutual funds, exchange-traded funds, insurance products, annuities and alternative investments.