LPL Financial Holdings Inc (LPLA) Shares Sold by Trexquant Investment LP
Trexquant Investment LP trimmed its position in shares of LPL Financial Holdings Inc (NASDAQ:LPLA) by 72.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,478 shares of the financial services provider’s stock after selling 16,838 shares during the period. Trexquant Investment LP’s holdings in LPL Financial were worth $425,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Integrated Investment Consultants LLC purchased a new position in shares of LPL Financial during the 2nd quarter valued at $111,000. Private Capital Group LLC grew its holdings in shares of LPL Financial by 266.9% during the 1st quarter. Private Capital Group LLC now owns 2,176 shares of the financial services provider’s stock valued at $133,000 after acquiring an additional 1,583 shares in the last quarter. Contravisory Investment Management Inc. purchased a new position in shares of LPL Financial during the 2nd quarter valued at $205,000. Calamos Advisors LLC purchased a new position in shares of LPL Financial during the 2nd quarter valued at $206,000. Finally, Barings LLC purchased a new position in shares of LPL Financial during the 1st quarter valued at $214,000. Institutional investors and hedge funds own 95.09% of the company’s stock.
LPLA has been the topic of several research analyst reports. BidaskClub upgraded shares of LPL Financial from a “hold” rating to a “buy” rating in a report on Wednesday, May 9th. Keefe, Bruyette & Woods restated a “buy” rating and set a $83.00 price target on shares of LPL Financial in a report on Friday, July 27th. Zacks Investment Research upgraded shares of LPL Financial from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a report on Tuesday, August 14th. Morgan Stanley boosted their price target on shares of LPL Financial from $72.00 to $74.00 and gave the company an “equal weight” rating in a report on Wednesday, May 30th. Finally, Wells Fargo & Co boosted their price target on shares of LPL Financial from $70.00 to $74.00 and gave the company a “market perform” rating in a report on Friday, July 27th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $79.09.
LPL Financial (NASDAQ:LPLA) last released its quarterly earnings data on Thursday, July 26th. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.10. LPL Financial had a net margin of 7.09% and a return on equity of 35.98%. The business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the previous year, the business earned $0.74 EPS. LPL Financial’s quarterly revenue was up 21.9% compared to the same quarter last year. equities analysts forecast that LPL Financial Holdings Inc will post 5.19 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 23rd. Investors of record on Thursday, August 9th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.49%. The ex-dividend date was Wednesday, August 8th. LPL Financial’s payout ratio is presently 33.33%.
In related news, CEO Dan H. Arnold sold 6,000 shares of LPL Financial stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $66.90, for a total value of $401,400.00. Following the completion of the sale, the chief executive officer now owns 239,761 shares of the company’s stock, valued at approximately $16,040,010.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John Andrew Kalbaugh sold 1,627 shares of LPL Financial stock in a transaction on Thursday, June 14th. The shares were sold at an average price of $70.20, for a total transaction of $114,215.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,627 shares of company stock valued at $918,275. 2.60% of the stock is owned by company insiders.
LPL Financial Company Profile
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 financial institutions in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, retirement and 529 education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and business development companies.
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