LPL Financial Holdings Inc. $LPLA Shares Sold by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. reduced its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 56.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 881 shares of the financial services provider’s stock after selling 1,119 shares during the period. Jefferies Financial Group Inc.’s holdings in LPL Financial were worth $330,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of LPLA. Dodge & Cox grew its stake in shares of LPL Financial by 224.1% in the 1st quarter. Dodge & Cox now owns 1,523,460 shares of the financial services provider’s stock valued at $498,385,000 after buying an additional 1,053,351 shares during the period. Massachusetts Financial Services Co. MA grew its position in LPL Financial by 61.1% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,442,182 shares of the financial services provider’s stock worth $915,745,000 after acquiring an additional 926,122 shares during the period. Alliancebernstein L.P. increased its stake in LPL Financial by 550.5% during the first quarter. Alliancebernstein L.P. now owns 759,206 shares of the financial services provider’s stock worth $248,367,000 after acquiring an additional 642,503 shares during the last quarter. Vanguard Group Inc. increased its stake in LPL Financial by 8.3% during the second quarter. Vanguard Group Inc. now owns 7,986,766 shares of the financial services provider’s stock worth $2,994,798,000 after acquiring an additional 613,909 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in shares of LPL Financial by 337.1% in the 1st quarter. Wellington Management Group LLP now owns 658,593 shares of the financial services provider’s stock valued at $215,452,000 after purchasing an additional 507,923 shares during the last quarter. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LPLA has been the subject of a number of recent analyst reports. Citizens Jmp raised their price objective on LPL Financial from $455.00 to $475.00 and gave the stock a “market outperform” rating in a research report on Friday, October 31st. Barclays boosted their price target 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. BMO Capital Markets assumed coverage on shares of LPL Financial in a research report on Friday, October 3rd. They set an “outperform” rating and a $365.00 price objective for the company. The Goldman Sachs Group reissued a “buy” rating and issued a $421.00 target price on shares of LPL Financial in a research report on Friday, October 31st. Finally, Keefe, Bruyette & Woods raised their price target on LPL Financial from $425.00 to $435.00 and gave the stock an “outperform” rating in a research report on Monday, August 4th. 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’s stock. According to MarketBeat.com, LPL Financial presently has a consensus rating of “Moderate Buy” and an average target price of $429.00.

Insider Transactions at LPL Financial

In related news, Director Aneri Jambusaria sold 80 shares of LPL Financial stock in a transaction that occurred on Tuesday, September 2nd. The shares were 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. The trade was a 1.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Greg Gates sold 1,500 shares of the 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 completion of the sale, the director directly owned 17,620 shares in the company, 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. Over the last three months, insiders have sold 3,830 shares of company stock valued at $1,336,675. Corporate insiders own 1.30% of the company’s stock.

LPL Financial Price Performance

LPL Financial stock opened at $356.05 on Friday. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 1.49. LPL Financial Holdings Inc. has a 52-week low of $262.83 and a 52-week high of $403.58. The firm has a market cap 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’s 50 day moving average is $345.02 and its two-hundred day moving average is $361.61.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data 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 business had revenue of $4.55 billion for the quarter, compared to analyst estimates of $4.08 billion. LPL Financial had a return on equity of 36.80% and a net margin of 5.35%.The company’s revenue was up 46.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.16 earnings per share. On average, research analysts expect that LPL Financial Holdings Inc. will post 19.35 EPS 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 paid 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 (DPR) is presently 11.05%.

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.