LPL Financial Holdings Inc (LPLA) Director Sells $1,576,938.00 in Stock
LPL Financial Holdings Inc (NASDAQ:LPLA) Director George Burton White sold 23,893 shares of the stock in a transaction that occurred on Thursday, November 8th. The stock was sold at an average price of $66.00, for a total transaction of $1,576,938.00. Following the completion of the transaction, the director now owns 50,582 shares in the company, valued at approximately $3,338,412. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.
NASDAQ LPLA opened at $63.39 on Wednesday. LPL Financial Holdings Inc has a 12 month low of $48.13 and a 12 month high of $73.28. The company has a market cap of $5.65 billion, a price-to-earnings ratio of 21.13, a PEG ratio of 0.84 and a beta of 1.59. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 2.43.
LPL Financial (NASDAQ:LPLA) last released its earnings results on Thursday, October 25th. The financial services provider reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.08. LPL Financial had a net margin of 7.68% and a return on equity of 41.69%. The company had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.30 billion. As a group, analysts expect that LPL Financial Holdings Inc will post 5.16 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Great West Life Assurance Co. Can raised its stake in LPL Financial by 12.1% during the 2nd quarter. Great West Life Assurance Co. Can now owns 9,853 shares of the financial services provider’s stock worth $646,000 after acquiring an additional 1,065 shares during the period. First Mercantile Trust Co. grew its holdings in LPL Financial by 12.2% during the 2nd quarter. First Mercantile Trust Co. now owns 10,525 shares of the financial services provider’s stock valued at $689,000 after buying an additional 1,141 shares in the last quarter. HL Financial Services LLC grew its holdings in LPL Financial by 22.3% during the 2nd quarter. HL Financial Services LLC now owns 7,280 shares of the financial services provider’s stock valued at $477,000 after buying an additional 1,325 shares in the last quarter. Integrated Investment Consultants LLC purchased a new stake in LPL Financial during the 2nd quarter valued at approximately $111,000. Finally, Amalgamated Bank grew its holdings in LPL Financial by 9.5% during the 2nd quarter. Amalgamated Bank now owns 20,656 shares of the financial services provider’s stock valued at $1,354,000 after buying an additional 1,797 shares in the last quarter. Institutional investors own 96.75% of the company’s stock.
Several brokerages have recently weighed in on LPLA. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $83.00 price objective on shares of LPL Financial in a research note on Friday, July 27th. Wells Fargo & Co increased their price objective on shares of LPL Financial from $70.00 to $74.00 and gave the stock a “market perform” rating in a research note on Friday, July 27th. BidaskClub upgraded shares of LPL Financial from a “sell” rating to a “hold” rating in a research note on Saturday, July 21st. Zacks Investment Research cut shares of LPL Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, August 21st. Finally, Wolfe Research began coverage on shares of LPL Financial in a research note on Tuesday, September 25th. They issued an “outperform” rating on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. LPL Financial has an average rating of “Hold” and a consensus price target of $78.18.
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About LPL Financial
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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