Icon Advisers Inc. Co. Sells 195 Shares of LPL Financial Holdings Inc. $LPLA

Icon Advisers Inc. Co. lessened its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 0.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,288 shares of the financial services provider’s stock after selling 195 shares during the quarter. LPL Financial makes up about 2.7% of Icon Advisers Inc. Co.’s investment portfolio, making the stock its largest holding. Icon Advisers Inc. Co.’s holdings in LPL Financial were worth $11,732,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Avantax Advisory Services Inc. boosted its stake in LPL Financial by 17.6% during the 1st quarter. Avantax Advisory Services Inc. now owns 2,340 shares of the financial services provider’s stock valued at $766,000 after purchasing an additional 351 shares during the period. Cetera Investment Advisers raised its holdings in shares of LPL Financial by 25.6% during the first quarter. Cetera Investment Advisers now owns 18,400 shares of the financial services provider’s stock valued at $6,019,000 after buying an additional 3,747 shares during the last quarter. Assetmark Inc. boosted its position in shares of LPL Financial by 111.9% during the first quarter. Assetmark Inc. now owns 1,227 shares of the financial services provider’s stock worth $401,000 after buying an additional 648 shares during the period. Mackenzie Financial Corp grew its holdings in LPL Financial by 21.8% in the 1st quarter. Mackenzie Financial Corp now owns 4,433 shares of the financial services provider’s stock worth $1,450,000 after buying an additional 794 shares in the last quarter. Finally, Vestcor Inc increased its position in LPL Financial by 2.1% in the 1st quarter. Vestcor Inc now owns 2,899 shares of the financial services provider’s stock valued at $948,000 after acquiring an additional 61 shares during the period. 95.66% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other LPL Financial news, Director Greg Gates sold 1,500 shares of LPL Financial stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $338.21, for a total transaction of $507,315.00. Following the transaction, the director directly owned 17,620 shares in the company, valued at approximately $5,959,260.20. The trade was a 7.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Aneri Jambusaria sold 80 shares of the business’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $361.25, for a total transaction of $28,900.00. Following the sale, the director directly owned 5,582 shares in the company, valued at approximately $2,016,497.50. This trade represents a 1.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 3,830 shares of company stock valued at $1,336,675 in the last ninety days. Company insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on LPLA shares. TD Cowen upped their price objective on shares of LPL Financial from $356.00 to $410.00 and gave the stock a “hold” rating in a report on Monday, November 3rd. BMO Capital Markets started coverage on shares of LPL Financial in a research note on Friday, October 3rd. They issued an “outperform” rating and a $365.00 price target for the company. Barclays raised their price objective on shares of LPL Financial from $411.00 to $420.00 and gave the company an “overweight” rating in a research note on Friday, October 31st. Weiss Ratings restated a “hold (c)” rating on shares of LPL Financial in a research report on Friday, October 31st. Finally, Citizens Jmp increased their price target on LPL Financial from $455.00 to $475.00 and gave the company a “market outperform” rating in a research note on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $429.00.

LPL Financial Stock Up 0.7%

Shares of LPL Financial stock opened at $356.05 on Friday. LPL Financial Holdings Inc. has a 12-month low of $262.83 and a 12-month high of $403.58. The firm has a market capitalization of $28.50 billion, a PE ratio of 32.79, a price-to-earnings-growth ratio of 0.78 and a beta of 0.63. 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’s fifty day moving average is $345.02 and its 200-day moving average is $361.46.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings results on Thursday, October 30th. The financial services provider reported $5.20 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 36.80% and a net margin of 5.35%.LPL Financial’s revenue was up 46.4% on a year-over-year basis. During the same quarter last year, the business posted $4.16 EPS. Equities analysts anticipate that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Thursday, November 13th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Thursday, November 13th. LPL Financial’s dividend payout ratio is 11.05%.

About LPL Financial

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.