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

LPL Financial Holdings Inc. (NASDAQ:LPLA) Director Aneri Jambusaria sold 308 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $357.36, for a total transaction of $110,066.88. Following the completion of the transaction, the director 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. The sale was disclosed in a filing with the SEC, which is accessible 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 transaction of $94,248.00.

LPL Financial Stock Performance

NASDAQ LPLA opened at $370.14 on Tuesday. The firm’s 50 day simple moving average is $334.58 and its 200 day simple moving average is $314.74. The firm has a market capitalization of $29.14 billion, a price-to-earnings ratio of 29.52, a P/E/G ratio of 0.62 and a beta of 0.48. 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 Holdings Inc. has a 1 year low of $260.15 and a 1 year high of $400.16.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data on Thursday, July 30th. The financial services provider reported $5.84 EPS for the quarter, beating the consensus estimate of $5.39 by $0.45. LPL Financial had a net margin of 5.13% and a return on equity of 32.20%. The business had revenue of $5.19 billion during the quarter, compared to the consensus estimate of $5.04 billion. During the same period in the previous year, the business earned $4.51 earnings per share. The company’s revenue was up 35.2% on a year-over-year basis. As a group, research analysts expect that LPL Financial Holdings Inc. will post 24.09 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.3%. LPL Financial’s payout ratio is 9.57%.

Institutional Investors Weigh In On LPL Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Osterweis Capital Management Inc. bought a new position in LPL Financial in the second quarter valued at about $26,000. Clearstead Advisors LLC boosted its stake in shares of LPL Financial by 3,650.0% during the fourth quarter. Clearstead Advisors LLC now owns 75 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 73 shares in the last quarter. Core Wealth Advisors LLC bought a new stake in shares of LPL Financial during the fourth quarter worth about $36,000. Physician Wealth Advisors Inc. grew its holdings in shares of LPL Financial by 580.0% during the first quarter. Physician Wealth Advisors Inc. now owns 136 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 116 shares during the last quarter. Finally, Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in shares of LPL Financial in the fourth quarter valued at approximately $50,000. Institutional investors own 95.66% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on LPLA shares. Morgan Stanley raised their price objective on LPL Financial from $374.00 to $387.00 and gave the company an “overweight” rating in a research note on Friday, July 10th. Keefe, Bruyette & Woods boosted their target price on LPL Financial from $365.00 to $390.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. UBS Group dropped their target price on shares of LPL Financial from $395.00 to $391.00 and set a “buy” rating for the company in a report on Wednesday, July 8th. BMO Capital Markets raised their price target on shares of LPL Financial from $300.00 to $390.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Finally, JPMorgan Chase & Co. lifted their price target on shares of LPL Financial from $408.00 to $428.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Twelve analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, LPL Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $406.69.

About LPL Financial

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.