Oliver Luxxe Assets LLC Acquires 1,068 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Oliver Luxxe Assets LLC boosted its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 7.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,860 shares of the financial services provider’s stock after acquiring an additional 1,068 shares during the quarter. Oliver Luxxe Assets LLC’s holdings in LPL Financial were worth $2,486,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Berman Capital Advisors LLC lifted its holdings in shares of LPL Financial by 23.2% during the third quarter. Berman Capital Advisors LLC now owns 509 shares of the financial services provider’s stock valued at $79,000 after acquiring an additional 96 shares during the period. Global Retirement Partners LLC lifted its holdings in shares of LPL Financial by 36.0% during the third quarter. Global Retirement Partners LLC now owns 389 shares of the financial services provider’s stock valued at $61,000 after acquiring an additional 103 shares during the period. Private Capital Group LLC lifted its holdings in shares of LPL Financial by 7.5% during the third quarter. Private Capital Group LLC now owns 1,527 shares of the financial services provider’s stock valued at $239,000 after acquiring an additional 107 shares during the period. Daiwa Securities Group Inc. lifted its holdings in shares of LPL Financial by 0.6% during the third quarter. Daiwa Securities Group Inc. now owns 19,626 shares of the financial services provider’s stock valued at $3,077,000 after acquiring an additional 119 shares during the period. Finally, Congress Asset Management Co. MA lifted its holdings in shares of LPL Financial by 0.9% during the third quarter. Congress Asset Management Co. MA now owns 12,774 shares of the financial services provider’s stock valued at $2,002,000 after acquiring an additional 120 shares during the period. 95.08% of the stock is currently owned by institutional investors.

In other LPL Financial news, Director George Burton White sold 22,271 shares of the company’s stock in a transaction that occurred on Tuesday, December 7th. The stock was sold at an average price of $166.10, for a total transaction of $3,699,213.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Edward Fandrey sold 1,784 shares of the company’s stock in a transaction that occurred on Tuesday, November 30th. The stock was sold at an average price of $158.56, for a total value of $282,871.04. The disclosure for this sale can be found here. Insiders sold a total of 41,065 shares of company stock valued at $6,822,244 over the last quarter. 1.90% of the stock is owned by insiders.

Shares of LPL Financial stock traded up $0.03 during trading on Friday, hitting $175.78. 563,174 shares of the company were exchanged, compared to its average volume of 470,122. The firm has a market capitalization of $14.09 billion, a P/E ratio of 30.89, a price-to-earnings-growth ratio of 0.87 and a beta of 1.11. LPL Financial Holdings Inc. has a 1-year low of $103.88 and a 1-year high of $181.92. The firm’s fifty day moving average price is $164.90 and its 200 day moving average price is $155.50. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.35 and a quick ratio of 1.35.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data on Thursday, October 28th. The financial services provider reported $1.77 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.72 by $0.05. LPL Financial had a return on equity of 38.13% and a net margin of 6.43%. The business had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2.04 billion. During the same period in the previous year, the firm earned $1.44 EPS. LPL Financial’s quarterly revenue was up 38.4% compared to the same quarter last year. As a group, equities research analysts anticipate that LPL Financial Holdings Inc. will post 6.93 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 29th. Investors of record on Thursday, November 11th were given a $0.25 dividend. The ex-dividend date was Tuesday, November 9th. This represents a $1.00 annualized dividend and a dividend yield of 0.57%. LPL Financial’s dividend payout ratio is presently 17.57%.

A number of research analysts recently issued reports on the company. Truist assumed coverage on LPL Financial in a report on Tuesday, November 2nd. They issued a “buy” rating and a $200.00 price target for the company. Citigroup lifted their price target on LPL Financial from $228.00 to $234.00 and gave the company a “buy” rating in a report on Friday, September 24th. Morgan Stanley lifted their price target on LPL Financial from $226.00 to $253.00 and gave the company an “overweight” rating in a report on Friday. UBS Group cut their price target on LPL Financial from $195.00 to $193.00 and set a “buy” rating for the company in a report on Tuesday, January 4th. Finally, Truist Securities started coverage on LPL Financial in a report on Tuesday, November 2nd. They set a “buy” rating and a $200.00 price objective for the company. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, LPL Financial currently has an average rating of “Buy” and an average price target of $190.67.

About LPL Financial

LPL Financial Holdings, Inc serves independent financial advisors and financial institutions, providing them with the technology, research, clearing and compliance services, and practice management programs they need to create and grow their practices. It provides objective financial guidance to millions of American families seeking wealth management, retirement planning, financial planning and asset management solutions.

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

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