LPL Financial Holdings Inc. $LPLA Shares Sold by Holocene Advisors LP

Holocene Advisors LP trimmed its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 19.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 268,448 shares of the financial services provider’s stock after selling 66,523 shares during the period. Holocene Advisors LP owned 0.34% of LPL Financial worth $100,660,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in LPLA. Summit Securities Group LLC acquired a new position in shares of LPL Financial during the first quarter worth approximately $26,000. Osterweis Capital Management Inc. bought a new position in shares of LPL Financial in the second quarter valued at approximately $26,000. SBI Securities Co. Ltd. boosted its holdings in shares of LPL Financial by 116.2% in the second quarter. SBI Securities Co. Ltd. now owns 80 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 43 shares in the last quarter. Maseco LLP bought a new stake in LPL Financial during the second quarter worth approximately $34,000. Finally, Bayforest Capital Ltd acquired a new stake in LPL Financial in the second quarter worth approximately $34,000. Institutional investors and hedge funds own 95.66% of the company’s stock.

Insider Activity

In related news, Director Greg Gates sold 750 shares of the business’s stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $370.97, for a total value of $278,227.50. Following the completion of the sale, the director owned 14,620 shares of the company’s stock, valued at approximately $5,423,581.40. The trade was a 4.88% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Richard Steinmeier sold 5,058 shares of the stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $370.99, for a total value of $1,876,467.42. Following the completion of the transaction, the chief executive officer owned 9,326 shares in the company, valued at $3,459,852.74. This represents a 35.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 8,138 shares of company stock worth $2,983,353 in the last three months. 1.30% of the stock is owned by insiders.

LPL Financial Stock Down 1.7%

LPLA stock opened at $380.96 on Friday. The company has a 50 day moving average of $353.19 and a two-hundred day moving average of $360.98. The company has a market cap of $30.49 billion, a price-to-earnings ratio of 35.08, a PEG ratio of 0.96 and a beta of 0.60. LPL Financial Holdings Inc. has a 12-month low of $262.83 and a 12-month 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.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings results on Thursday, October 30th. The financial services provider reported $5.20 EPS for the quarter, beating the consensus estimate of $4.49 by $0.71. The business 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%. LPL Financial’s revenue was up 46.4% on a year-over-year basis. During the same period in the previous year, the company posted $4.16 EPS. On average, equities analysts anticipate that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on LPLA shares. JPMorgan Chase & Co. dropped their price objective on LPL Financial from $463.00 to $438.00 and set an “overweight” rating on the stock in a research note on Monday, October 20th. Citigroup reiterated an “outperform” rating on shares of LPL Financial in a research report on Friday, October 31st. TD Cowen raised their price objective on shares of LPL Financial from $356.00 to $410.00 and gave the company a “hold” rating in a research report on Monday, November 3rd. Rothschild & Co Redburn lowered shares of LPL Financial from a “buy” rating to a “neutral” rating and set a $390.00 target price for the company. in a research note on Friday, September 19th. Finally, BMO Capital Markets assumed coverage on shares of LPL Financial in a research report on Friday, October 3rd. They issued an “outperform” rating and a $365.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, LPL Financial currently has an average rating of “Moderate Buy” and a consensus target price of $427.86.

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.