LPL Financial Holdings Inc. (NASDAQ:LPLA) Position Increased by Community Trust & Investment Co.

Community Trust & Investment Co. grew its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLAFree Report) by 0.2% in the second quarter, according to its most recent filing with the SEC. The fund owned 39,381 shares of the financial services provider’s stock after acquiring an additional 76 shares during the period. Community Trust & Investment Co. owned about 0.05% of LPL Financial worth $8,563,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of LPLA. MCF Advisors LLC purchased a new stake in LPL Financial during the first quarter valued at about $26,000. First Manhattan Co. acquired a new stake in shares of LPL Financial during the fourth quarter valued at approximately $27,000. Janiczek Wealth Management LLC lifted its position in shares of LPL Financial by 267.6% in the 2nd quarter. Janiczek Wealth Management LLC now owns 136 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 99 shares in the last quarter. Steward Financial Group LLC acquired a new position in LPL Financial in the 4th quarter worth approximately $37,000. Finally, Harbor Capital Advisors Inc. purchased a new position in LPL Financial during the 2nd quarter worth approximately $40,000. 92.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Jefferies Financial Group raised their target price on LPL Financial from $246.00 to $253.00 in a research report on Monday, July 10th. Barclays assumed coverage on LPL Financial in a report on Thursday, September 7th. They issued an “overweight” rating and a $275.00 target price on the stock. StockNews.com assumed coverage on shares of LPL Financial in a report on Thursday, August 17th. They set a “hold” rating for the company. Morgan Stanley upped their price objective on shares of LPL Financial from $238.00 to $243.00 and gave the company an “equal weight” rating in a research note on Monday, July 31st. Finally, Citigroup lifted their target price on shares of LPL Financial from $245.00 to $275.00 and gave the company a “buy” rating in a research note on Friday, July 28th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $248.60.

View Our Latest Report on LPLA

LPL Financial Stock Up 0.5 %

Shares of LPLA stock traded up $1.29 on Tuesday, hitting $247.79. The company’s stock had a trading volume of 145,331 shares, compared to its average volume of 794,117. The stock has a market capitalization of $18.91 billion, a price-to-earnings ratio of 16.77, a P/E/G ratio of 0.79 and a beta of 0.92. LPL Financial Holdings Inc. has a fifty-two week low of $179.00 and a fifty-two week high of $271.56. The firm’s fifty day moving average price is $231.85 and its 200-day moving average price is $214.42. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.74 and a quick ratio of 1.74.

LPL Financial (NASDAQ:LPLAGet Free Report) last announced its quarterly earnings results on Thursday, July 27th. The financial services provider reported $3.94 earnings per share for the quarter, topping analysts’ consensus estimates of $3.87 by $0.07. LPL Financial had a return on equity of 59.52% and a net margin of 12.53%. The company had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.44 billion. During the same quarter in the previous year, the firm earned $2.24 earnings per share. The business’s quarterly revenue was up 21.1% compared to the same quarter last year. Research analysts anticipate that LPL Financial Holdings Inc. will post 16.33 EPS for the current year.

LPL Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Friday, August 11th were issued a dividend of $0.30 per share. The ex-dividend date was Thursday, August 10th. This represents a $1.20 annualized dividend and a yield of 0.48%. LPL Financial’s dividend payout ratio (DPR) is presently 8.16%.

Insider Activity

In related news, Director Richard Steinmeier sold 10,300 shares of the firm’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $242.68, for a total value of $2,499,604.00. Following the transaction, the director now directly owns 16,914 shares in the company, valued at approximately $4,104,689.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Matthew Enyedi sold 3,265 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $230.86, for a total transaction of $753,757.90. Following the completion of the transaction, the director now directly owns 9,978 shares in the company, valued at $2,303,521.08. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Richard Steinmeier sold 10,300 shares of the stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $242.68, for a total value of $2,499,604.00. Following the completion of the sale, the director now directly owns 16,914 shares of the company’s stock, valued at $4,104,689.52. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

About LPL Financial

(Free Report)

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, retirement and education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and auction rate notes.

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Institutional Ownership by Quarter for LPL Financial (NASDAQ:LPLA)

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