Burney Co. Trims Stake in LPL Financial Holdings Inc. $LPLA

Burney Co. cut its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 87.3% in the first quarter, Holdings Channel reports. The firm owned 3,795 shares of the financial services provider’s stock after selling 26,088 shares during the period. Burney Co.’s holdings in LPL Financial were worth $1,142,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Osterweis Capital Management Inc. acquired a new position in LPL Financial during the second quarter worth approximately $26,000. Clearstead Advisors LLC boosted its holdings in shares of LPL Financial by 3,650.0% in the fourth quarter. Clearstead Advisors LLC now owns 75 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 73 shares during the period. Steigerwald Gordon & Koch Inc. grew its position in shares of LPL Financial by 550.0% during the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 78 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 66 shares during the last quarter. Core Wealth Advisors LLC purchased a new position in shares of LPL Financial during the fourth quarter worth approximately $36,000. Finally, Physician Wealth Advisors Inc. increased its holdings in shares of LPL Financial by 580.0% in the 1st quarter. Physician Wealth Advisors Inc. now owns 136 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 116 shares during the period. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Key Headlines Impacting LPL Financial

Here are the key news stories impacting LPL Financial this week:

• Positive Sentiment: LPL announced several new advisor wins, including David Logsdon, who brought roughly $380 million in assets, and Doug and Jenny Haskin, who launched Haskin Private Wealth Advisors with about $170 million in assets. These additions support LPL’s growth in advisor headcount and client assets. Article Title
• Positive Sentiment: Cypress Point Wealth Partners also joined LPL’s Independent Advisor Network, adding another independent practice and reinforcing LPL’s appeal to advisors seeking flexibility and support. Article Title
• Positive Sentiment: The company’s midyear outlook highlights LPL Research’s market commentary and may support investor confidence in the firm’s platform and thought leadership. Article Title

Insider Buying and Selling at LPL Financial

In other LPL Financial news, Director Aneri Jambusaria sold 308 shares of the firm’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $306.00, for a total value of $94,248.00. Following the completion of the sale, the director owned 6,415 shares of the company’s stock, valued at approximately $1,962,990. This trade represents a 4.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Matthew J. Audette sold 1,110 shares of the business’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $330.01, for a total transaction of $366,311.10. Following the sale, the chief financial officer owned 19,803 shares in the company, valued at $6,535,188.03. The trade was a 5.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,887 shares of company stock valued at $613,144 in the last quarter. 0.60% of the stock is currently owned by company insiders.

LPL Financial Trading Down 2.2%

NASDAQ LPLA opened at $300.82 on Thursday. The company has a quick ratio of 2.56, a current ratio of 2.56 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $24.06 billion, a P/E ratio of 26.86, a P/E/G ratio of 0.64 and a beta of 0.50. LPL Financial Holdings Inc. has a 52-week low of $260.15 and a 52-week high of $403.58. The firm has a 50-day moving average price of $293.58 and a 200 day moving average price of $320.33.

LPL Financial (NASDAQ:LPLA) last released its earnings results on Thursday, April 30th. The financial services provider reported $5.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.49 by $0.11. The company had revenue of $4.94 billion for the quarter, compared to analysts’ expectations of $4.98 billion. LPL Financial had a return on equity of 31.26% and a net margin of 4.93%.The firm’s quarterly revenue was up 34.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.15 EPS. Equities research analysts expect that LPL Financial Holdings Inc. will post 22.94 EPS for the current year.

LPL Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 21st were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Thursday, May 21st. LPL Financial’s dividend payout ratio is currently 10.71%.

Analyst Upgrades and Downgrades

LPLA has been the subject of a number of recent research reports. Barclays increased their price target on shares of LPL Financial from $369.00 to $412.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. JPMorgan Chase & Co. reduced their target price on shares of LPL Financial from $396.00 to $390.00 and set an “overweight” rating for the company in a report on Friday, May 1st. Keefe, Bruyette & Woods started coverage on shares of LPL Financial in a research note on Wednesday, April 8th. They set an “outperform” rating and a $350.00 target price for the company. UBS Group lowered their price target on LPL Financial from $395.00 to $391.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, TD Cowen lowered their price target on LPL Financial from $330.00 to $326.00 and set a “hold” rating on the stock in a report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, LPL Financial presently has an average rating of “Moderate Buy” and an average target price of $398.57.

LPL Financial Profile

LPL Financial (NASDAQ: LPLA) is a U.S.-focused financial services firm that provides brokerage, custodial and advisory platforms to independent financial advisors, registered investment advisers and institutions. Operating primarily as an independent broker-dealer and custodian, the company supports a network of advisors with the operational, compliance and clearing infrastructure needed to manage client accounts and deliver investment advice outside of traditional wirehouse models.

The firm’s product and service offerings include trade execution and clearing, custody services, retirement plan services, model portfolio and advisory platforms, wealth management technology, investment research and product access across equities, fixed income, mutual funds, exchange-traded funds and insurance and annuity solutions.