LPL Financial Holdings Inc (LPLA) Director Sells $1,864,359.00 in Stock
LPL Financial Holdings Inc (NASDAQ:LPLA) Director Marco Hellman sold 29,300 shares of LPL Financial stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of $63.63, for a total value of $1,864,359.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Marco Hellman also recently made the following trade(s):
- On Tuesday, February 27th, Marco Hellman sold 207,734 shares of LPL Financial stock. The stock was sold at an average price of $66.17, for a total value of $13,745,758.78.
- On Thursday, February 22nd, Marco Hellman sold 1,150,000 shares of LPL Financial stock. The stock was sold at an average price of $62.12, for a total value of $71,438,000.00.
Shares of LPL Financial Holdings Inc (LPLA) opened at $65.45 on Friday. The company has a debt-to-equity ratio of 2.47, a quick ratio of 1.39 and a current ratio of 1.39. The firm has a market capitalization of $5,890.00, a P/E ratio of 26.18, a price-to-earnings-growth ratio of 1.13 and a beta of 1.59. LPL Financial Holdings Inc has a 1-year low of $37.38 and a 1-year high of $66.64.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 23rd. Shareholders of record on Friday, March 9th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend is Thursday, March 8th. LPL Financial’s payout ratio is 40.00%.
LPL Financial announced that its board has authorized a share repurchase plan on Tuesday, December 5th that authorizes the company to buyback $359.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.
A number of research firms recently weighed in on LPLA. Zacks Investment Research downgraded LPL Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Morgan Stanley lifted their target price on LPL Financial from $62.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 7th. BidaskClub raised LPL Financial from a “hold” rating to a “buy” rating in a research report on Monday, February 5th. Citigroup lifted their target price on LPL Financial from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, February 5th. Finally, Credit Suisse Group lifted their target price on LPL Financial from $77.00 to $85.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. LPL Financial currently has an average rating of “Buy” and an average target price of $68.36.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. American International Group Inc. acquired a new stake in LPL Financial during the fourth quarter valued at approximately $119,000. Cerebellum GP LLC acquired a new stake in LPL Financial during the fourth quarter valued at approximately $122,000. Ladenburg Thalmann Financial Services Inc. boosted its holdings in LPL Financial by 140.7% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,186 shares of the financial services provider’s stock valued at $125,000 after purchasing an additional 1,278 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in LPL Financial by 8.2% during the second quarter. The Manufacturers Life Insurance Company now owns 2,794 shares of the financial services provider’s stock valued at $119,000 after purchasing an additional 211 shares in the last quarter. Finally, London Co. of Virginia acquired a new stake in LPL Financial during the fourth quarter valued at approximately $220,000. 92.22% of the stock is currently owned by institutional investors.
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LPL Financial Company Profile
LPL Financial Holdings Inc is a broker-dealer, a custodian for registered investment advisors and an independent consultant to retirement plans. The Company provides a platform of brokerage and investment advisory services to independent financial advisors, including financial advisors at financial institutions across the country.
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