Aneri Jambusaria Sells 308 Shares of LPL Financial (NASDAQ:LPLA) Stock

LPL Financial Holdings Inc. (NASDAQ:LPLA) Director Aneri Jambusaria sold 308 shares of the business’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $357.36, for a total value of $110,066.88. Following the transaction, the director directly owned 6,107 shares of the company’s stock, valued at approximately $2,182,397.52. The trade was a 4.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Aneri Jambusaria also recently made the following trade(s):

• On Wednesday, June 17th, Aneri Jambusaria sold 308 shares of LPL Financial stock. The stock was sold at an average price of $306.00, for a total transaction of $94,248.00.

LPL Financial Trading Down 3.4%

LPLA opened at $357.63 on Wednesday. The company’s 50 day moving average is $335.83 and its 200-day moving average is $314.87. LPL Financial Holdings Inc. has a 1-year low of $260.15 and a 1-year high of $400.16. The company has a current ratio of 2.39, a quick ratio of 2.39 and a debt-to-equity ratio of 1.30. The company has a market cap of $28.16 billion, a P/E ratio of 28.52, a PEG ratio of 0.62 and a beta of 0.48.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings data on Thursday, July 30th. The financial services provider reported $5.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.39 by $0.45. The business had revenue of $5.19 billion during the quarter, compared to analysts’ expectations of $5.04 billion. LPL Financial had a net margin of 5.13% and a return on equity of 32.20%. The firm’s quarterly revenue was up 35.2% compared to the same quarter last year. During the same period in the prior year, the company earned $4.51 EPS. Equities research analysts predict that LPL Financial Holdings Inc. will post 24.09 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were issued a dividend of $0.30 per share. The ex-dividend date was Friday, August 14th. This represents a $1.20 annualized dividend and a dividend yield of 0.3%. LPL Financial’s dividend payout ratio is 9.57%.

Institutional Trading of LPL Financial

Institutional investors have recently added to or reduced their stakes in the stock. Goldstein Advisors LLC raised its holdings in LPL Financial by 4.8% during the 4th quarter. Goldstein Advisors LLC now owns 634 shares of the financial services provider’s stock worth $226,000 after purchasing an additional 29 shares during the last quarter. Coastal Bridge Advisors LLC boosted its stake in shares of LPL Financial by 0.6% in the 4th quarter. Coastal Bridge Advisors LLC now owns 5,475 shares of the financial services provider’s stock valued at $1,956,000 after purchasing an additional 31 shares during the last quarter. Root Financial Partners LLC boosted its stake in shares of LPL Financial by 1.4% in the 4th quarter. Root Financial Partners LLC now owns 2,318 shares of the financial services provider’s stock valued at $828,000 after purchasing an additional 33 shares during the last quarter. Lifestyle Asset Management Inc. increased its position in shares of LPL Financial by 2.9% during the fourth quarter. Lifestyle Asset Management Inc. now owns 1,191 shares of the financial services provider’s stock worth $425,000 after buying an additional 34 shares during the period. Finally, Bank of Nova Scotia increased its position in shares of LPL Financial by 0.7% during the first quarter. Bank of Nova Scotia now owns 5,705 shares of the financial services provider’s stock worth $1,716,000 after buying an additional 37 shares during the period. 95.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

LPLA has been the topic of several recent research reports. William Blair reissued an “outperform” rating on shares of LPL Financial in a report on Thursday, June 4th. BMO Capital Markets boosted their price objective on LPL Financial from $300.00 to $390.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. TD Cowen upped their target price on LPL Financial from $372.00 to $377.00 and gave the stock a “hold” rating in a report on Tuesday. Wolfe Research reiterated an “outperform” rating and issued a $454.00 target price on shares of LPL Financial in a research report on Wednesday, August 12th. Finally, UBS Group cut their price target on LPL Financial from $395.00 to $391.00 and set a “buy” rating on the stock in a research note on Wednesday, July 8th. Twelve research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $405.79.

About LPL Financial

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.