570 Shares in LPL Financial Holdings Inc. $LPLA Bought by Flagship Harbor Advisors LLC

Flagship Harbor Advisors LLC acquired a new position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 570 shares of the financial services provider’s stock, valued at approximately $214,000.

Several other hedge funds have also added to or reduced their stakes in the business. Cullen Frost Bankers Inc. raised its stake in LPL Financial by 9.9% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 301 shares of the financial services provider’s stock worth $113,000 after buying an additional 27 shares during the period. Compass Financial Services Inc raised its stake in LPL Financial by 14.5% during the 1st quarter. Compass Financial Services Inc now owns 229 shares of the financial services provider’s stock worth $75,000 after buying an additional 29 shares during the period. Magnolia Private Wealth LLC raised its stake in LPL Financial by 2.0% during the 2nd quarter. Magnolia Private Wealth LLC now owns 1,662 shares of the financial services provider’s stock worth $623,000 after buying an additional 33 shares during the period. Moran Wealth Management LLC raised its stake in LPL Financial by 1.4% during the 2nd quarter. Moran Wealth Management LLC now owns 2,648 shares of the financial services provider’s stock worth $993,000 after buying an additional 37 shares during the period. Finally, Stratos Wealth Partners LTD. raised its stake in LPL Financial by 1.8% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 2,120 shares of the financial services provider’s stock worth $795,000 after buying an additional 37 shares during the period. Institutional investors and hedge funds own 95.66% of the company’s stock.

Insider Activity

In other news, Director Aneri Jambusaria sold 80 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $361.25, for a total value of $28,900.00. Following the completion of the transaction, the director owned 5,582 shares in the company, valued at $2,016,497.50. This trade represents a 1.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Greg Gates sold 1,500 shares of the firm’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $338.21, for a total value of $507,315.00. Following the completion of the transaction, the director owned 17,620 shares of the company’s stock, valued at $5,959,260.20. The trade was a 7.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 3,830 shares of company stock valued at $1,333,105 in the last 90 days. 1.30% of the stock is owned by corporate insiders.

LPL Financial Price Performance

Shares of NASDAQ LPLA opened at $377.31 on Friday. The stock has a market capitalization of $30.18 billion, a price-to-earnings ratio of 34.74, a PEG ratio of 0.88 and a beta of 0.61. The business has a 50-day moving average of $339.77 and a 200-day moving average of $356.27. The company has a debt-to-equity ratio of 1.41, a current ratio of 3.22 and a quick ratio of 3.22. LPL Financial Holdings Inc. has a fifty-two week low of $262.83 and a fifty-two week high of $403.58.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data on Thursday, October 30th. The financial services provider reported $5.20 earnings per share for the quarter, beating the consensus estimate of $4.49 by $0.71. The company had revenue of $4.55 billion during the quarter, compared to analysts’ expectations of $4.08 billion. LPL Financial had a return on equity of 40.11% and a net margin of 5.35%.LPL Financial’s revenue for the quarter was up 46.4% compared to the same quarter last year. During the same quarter last year, the company earned $4.16 EPS. As a group, sell-side analysts predict that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Thursday, November 13th will be issued a $0.30 dividend. The ex-dividend date is Thursday, November 13th. This represents a $1.20 annualized dividend and a dividend yield of 0.3%. LPL Financial’s dividend payout ratio (DPR) is presently 8.21%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on LPLA. Citigroup reissued an “outperform” rating on shares of LPL Financial in a research note on Friday. Barclays lifted their price target on LPL Financial from $411.00 to $420.00 and gave the company an “overweight” rating in a research note on Friday. Rothschild & Co Redburn downgraded LPL Financial from a “buy” rating to a “neutral” rating and set a $390.00 price target on the stock. in a research note on Friday, September 19th. Morgan Stanley dropped their price target on LPL Financial from $490.00 to $462.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 1st. Finally, Wells Fargo & Company lifted their price target on LPL Financial from $402.00 to $420.00 and gave the company an “overweight” rating in a research note on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $428.50.

LPL Financial Profile

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 enterprises in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, fixed income, alternative investments, retirement and 529 education savings plans, and insurance.