Marks Group Wealth Management Inc Purchases Shares of 651 LPL Financial Holdings Inc. $LPLA

Marks Group Wealth Management Inc acquired a new position in LPL Financial Holdings Inc. (NASDAQ:LPLA) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 651 shares of the financial services provider’s stock, valued at approximately $244,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Summit Securities Group LLC bought a new stake in LPL Financial during the 1st quarter valued at approximately $26,000. Millstone Evans Group LLC increased its holdings in LPL Financial by 123.1% in the 1st quarter. Millstone Evans Group LLC now owns 87 shares of the financial services provider’s stock valued at $28,000 after buying an additional 48 shares during the period. Private Trust Co. NA raised its stake in shares of LPL Financial by 234.5% in the 1st quarter. Private Trust Co. NA now owns 97 shares of the financial services provider’s stock valued at $32,000 after buying an additional 68 shares in the last quarter. City Holding Co. bought a new position in shares of LPL Financial during the 1st quarter worth about $34,000. Finally, TCTC Holdings LLC boosted its position in shares of LPL Financial by 116.7% during the 1st quarter. TCTC Holdings LLC now owns 104 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 56 shares in the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.

LPL Financial Stock Performance

Shares of NASDAQ:LPLA opened at $312.18 on Tuesday. The business has a fifty day moving average of $352.72 and a 200-day moving average of $353.90. The company has a debt-to-equity ratio of 1.41, a quick ratio of 3.22 and a current ratio of 3.22. LPL Financial Holdings Inc. has a twelve month low of $236.59 and a twelve month high of $403.58. The firm has a market cap of $24.97 billion, a PE ratio of 21.35, a price-to-earnings-growth ratio of 0.73 and a beta of 0.61.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings results on Thursday, July 31st. The financial services provider reported $4.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.21 by $0.30. LPL Financial had a net margin of 7.91% and a return on equity of 39.80%. The business had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter in the prior year, the company earned $3.88 EPS. The firm’s quarterly revenue was up 30.8% on a year-over-year basis. On average, equities research analysts predict that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Friday, August 15th. LPL Financial’s dividend payout ratio is 8.21%.

Insider Buying and Selling

In other news, Director Greg Gates sold 1,500 shares of LPL Financial 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 directly owned 17,620 shares of the company’s stock, valued at approximately $5,959,260.20. This trade represents a 7.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Aneri Jambusaria sold 80 shares of the company’s stock in a transaction 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 transaction, the director directly owned 5,582 shares in the company, valued at $2,016,497.50. This trade represents a 1.41% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 3,080 shares of company stock valued at $1,097,290. 0.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Wall Street Zen downgraded LPL Financial from a “buy” rating to a “hold” rating in a research report on Saturday, June 14th. Weiss Ratings reiterated a “hold (c+)” rating on shares of LPL Financial in a research note on Saturday, September 27th. Rothschild Redb downgraded shares of LPL Financial from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 19th. Keefe, Bruyette & Woods upped their target price on shares of LPL Financial from $425.00 to $435.00 and gave the stock an “outperform” rating in a report on Monday, August 4th. Finally, BMO Capital Markets initiated coverage on shares of LPL Financial in a report on Friday. They set an “outperform” rating and a $365.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, LPL Financial presently has a consensus rating of “Moderate Buy” and an average target price of $395.77.

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.