O Brien Wealth Partners LLC Takes Position in LPL Financial Holdings Inc. $LPLA

O Brien Wealth Partners LLC bought a new stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 566 shares of the financial services provider’s stock, valued at approximately $212,000.

Other hedge funds have also recently modified their holdings of the company. DAVENPORT & Co LLC boosted its holdings in shares of LPL Financial by 8.9% during the 1st quarter. DAVENPORT & Co LLC now owns 1,918 shares of the financial services provider’s stock valued at $627,000 after buying an additional 156 shares in the last quarter. Merit Financial Group LLC boosted its holdings in shares of LPL Financial by 195.1% during the 1st quarter. Merit Financial Group LLC now owns 3,341 shares of the financial services provider’s stock valued at $1,093,000 after buying an additional 2,209 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in LPL Financial by 8.8% in the 1st quarter. JPMorgan Chase & Co. now owns 1,304,780 shares of the financial services provider’s stock worth $426,846,000 after purchasing an additional 105,665 shares in the last quarter. Amalgamated Bank boosted its stake in LPL Financial by 3.8% in the 1st quarter. Amalgamated Bank now owns 5,875 shares of the financial services provider’s stock worth $1,922,000 after purchasing an additional 213 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in LPL Financial by 2,319.1% in the 1st quarter. Blue Trust Inc. now owns 1,137 shares of the financial services provider’s stock worth $372,000 after purchasing an additional 1,090 shares in the last quarter. Institutional investors own 95.66% of the company’s stock.

LPL Financial Trading Down 0.1%

LPL Financial stock opened at $336.28 on Wednesday. The firm has a 50 day moving average of $365.85 and a 200 day moving average of $353.57. The firm has a market capitalization of $26.90 billion, a price-to-earnings ratio of 23.00, a P/E/G ratio of 0.79 and a beta of 0.66. LPL Financial Holdings Inc. has a 12-month low of $208.47 and a 12-month high of $403.58. The company has a current ratio of 3.22, a quick ratio of 3.22 and a debt-to-equity ratio of 1.41.

LPL Financial (NASDAQ:LPLA) last released its 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. The company had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.77 billion. LPL Financial had a net margin of 7.91% and a return on equity of 39.80%. The firm’s quarterly revenue was up 30.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.88 EPS. As a group, research analysts predict that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts recently issued reports on LPLA shares. The Goldman Sachs Group started coverage on shares of LPL Financial in a research note on Friday, September 12th. They issued a “buy” rating and a $405.00 price target on the stock. Barclays dropped their price target on shares of LPL Financial from $463.00 to $460.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 2nd. Redburn Atlantic upgraded shares of LPL Financial from a “neutral” rating to a “buy” rating and upped their price target for the stock from $420.00 to $460.00 in a research note on Monday, June 9th. Wells Fargo & Company upped their price target on shares of LPL Financial from $402.00 to $420.00 and gave the stock an “overweight” rating in a research note on Friday, July 11th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $490.00 price target (up previously from $450.00) on shares of LPL Financial in a research note on Tuesday, July 15th. Ten research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, LPL Financial has an average rating of “Moderate Buy” and an average target price of $391.67.

Insider Activity at LPL Financial

In other LPL Financial news, Director Aneri Jambusaria sold 80 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $361.25, for a total value of $28,900.00. Following the completion of the transaction, the director directly owned 5,582 shares in the company, valued at $2,016,497.50. This represents a 1.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Greg Gates sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $374.05, for a total value of $561,075.00. Following the completion of the transaction, the director owned 19,120 shares of the company’s stock, valued at $7,151,836. The trade was a 7.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,580 shares of company stock valued at $1,671,235 over the last 90 days. 0.70% of the stock is currently owned by corporate insiders.

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.