Choreo LLC Grows Holdings in LPL Financial Holdings Inc. $LPLA

Choreo LLC boosted its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 18.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,039 shares of the financial services provider’s stock after acquiring an additional 639 shares during the period. Choreo LLC’s holdings in LPL Financial were worth $1,514,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Summit Securities Group LLC purchased a new stake in shares of LPL Financial in the first quarter worth $26,000. SBI Securities Co. Ltd. boosted its holdings in LPL Financial by 116.2% in the 2nd quarter. SBI Securities Co. Ltd. now owns 80 shares of the financial services provider’s stock worth $30,000 after buying an additional 43 shares during the period. Maseco LLP bought a new stake in LPL Financial during the second quarter valued at about $34,000. Bayforest Capital Ltd purchased a new position in shares of LPL Financial in the second quarter valued at about $34,000. Finally, Smithfield Trust Co boosted its stake in shares of LPL Financial by 29.4% in the second quarter. Smithfield Trust Co now owns 154 shares of the financial services provider’s stock worth $58,000 after acquiring an additional 35 shares during the period. 95.66% of the stock is currently owned by institutional investors.

Insider Activity at LPL Financial

In related news, Director Aneri Jambusaria sold 80 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $361.25, for a total transaction of $28,900.00. Following the sale, the director owned 5,582 shares in the company, valued at approximately $2,016,497.50. This represents a 1.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Greg Gates sold 1,500 shares of the firm’s stock in a transaction on Friday, September 5th. The stock was sold at an average price of $338.21, for a total value of $507,315.00. Following the completion of the sale, the director owned 17,620 shares of the company’s stock, valued at approximately $5,959,260.20. This represents a 7.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 3,830 shares of company stock worth $1,336,675. Corporate insiders own 1.30% of the company’s stock.

LPL Financial Stock Performance

Shares of NASDAQ:LPLA opened at $356.05 on Friday. The firm has a fifty day simple moving average of $345.02 and a two-hundred day simple moving average of $361.61. LPL Financial Holdings Inc. has a 52 week low of $262.83 and a 52 week high of $403.58. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 1.49. The stock has a market capitalization of $28.50 billion, a P/E ratio of 32.79, a PEG ratio of 0.78 and a beta of 0.63.

LPL Financial (NASDAQ:LPLA) last announced its earnings results on Thursday, October 30th. The financial services provider reported $5.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.49 by $0.71. The firm had revenue of $4.55 billion for the quarter, compared to analysts’ expectations of $4.08 billion. LPL Financial had a net margin of 5.35% and a return on equity of 36.80%. The business’s revenue was up 46.4% compared to the same quarter last year. During the same period in the prior year, the company earned $4.16 EPS. On average, analysts expect that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 0.3%. LPL Financial’s payout ratio is 11.05%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on LPLA shares. Barclays lifted their target price on LPL Financial from $411.00 to $420.00 and gave the company an “overweight” rating in a research note on Friday, October 31st. JMP Securities set a $475.00 price objective on shares of LPL Financial in a research report on Friday, October 31st. The Goldman Sachs Group reissued a “buy” rating and issued a $421.00 target price on shares of LPL Financial in a report on Friday, October 31st. Raymond James Financial raised shares of LPL Financial from an “underperform” rating to a “market perform” rating in a research note on Thursday, October 9th. Finally, Rothschild & Co Redburn cut shares of 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. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $429.00.

LPL Financial Company 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.