O Brien Wealth Partners LLC Takes $212,000 Position in LPL Financial Holdings Inc. $LPLA

O Brien Wealth Partners LLC bought a new stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) in the second quarter, Holdings Channel reports. The institutional investor bought 566 shares of the financial services provider’s stock, valued at approximately $212,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Gateway Investment Advisers LLC boosted its position in shares of LPL Financial by 10.6% during the 2nd quarter. Gateway Investment Advisers LLC now owns 3,515 shares of the financial services provider’s stock valued at $1,318,000 after acquiring an additional 337 shares during the last quarter. Thrive Wealth Management LLC lifted its position in LPL Financial by 4.0% in the second quarter. Thrive Wealth Management LLC now owns 1,460 shares of the financial services provider’s stock worth $547,000 after buying an additional 56 shares during the last quarter. Lifestyle Asset Management Inc. lifted its position in LPL Financial by 10.3% in the second quarter. Lifestyle Asset Management Inc. now owns 1,082 shares of the financial services provider’s stock worth $406,000 after buying an additional 101 shares during the last quarter. WealthCare Investment Partners LLC bought a new stake in LPL Financial in the second quarter worth $260,000. Finally, Wesbanco Bank Inc. bought a new stake in LPL Financial in the second quarter worth $210,000. 95.66% of the stock is currently owned by institutional investors.

LPL Financial Price Performance

LPLA opened at $336.28 on Wednesday. The business’s 50-day moving average is $365.85 and its two-hundred day moving average is $353.57. LPL Financial Holdings Inc. has a 1 year low of $208.47 and a 1 year high of $403.58. The company has a debt-to-equity ratio of 1.41, a current ratio of 3.22 and a quick ratio of 3.22. The firm has a market capitalization of $26.90 billion, a PE ratio of 23.00, a price-to-earnings-growth ratio of 0.79 and a beta of 0.66.

LPL Financial (NASDAQ:LPLA) last posted its earnings results on Thursday, July 31st. The financial services provider reported $4.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.21 by $0.30. LPL Financial had a return on equity of 39.80% and a net margin of 7.91%.The company had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same quarter in the previous year, the firm earned $3.88 earnings per share. The firm’s quarterly revenue was up 30.8% compared to the same quarter last year. Research analysts anticipate that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.4%. The ex-dividend date was Friday, August 15th. LPL Financial’s payout ratio is 8.21%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. The Goldman Sachs Group assumed coverage on LPL Financial in a research report on Friday, September 12th. They issued a “buy” rating and a $405.00 price target for the company. Morgan Stanley restated an “overweight” rating and issued a $490.00 price target (up from $450.00) on shares of LPL Financial in a research report on Tuesday, July 15th. Redburn Atlantic upgraded LPL Financial from a “neutral” rating to a “buy” rating and raised their price target for the stock from $420.00 to $460.00 in a research report on Monday, June 9th. Citigroup downgraded LPL Financial from a “neutral” rating to a “sell” rating and set a $80.00 price target for the company. in a research report on Wednesday, July 9th. Finally, Wall Street Zen lowered LPL Financial from a “buy” rating to a “hold” rating in a research note on Saturday, June 14th. Ten investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $391.67.

Insider Activity

In other LPL Financial news, Director Aneri Jambusaria sold 80 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $361.25, for a total value of $28,900.00. Following the completion of the sale, the director owned 5,582 shares of the company’s stock, valued at approximately $2,016,497.50. This trade represents a 1.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Greg Gates sold 1,500 shares of the firm’s stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $338.21, for a total value of $507,315.00. Following the completion of the sale, the director directly owned 17,620 shares of the company’s stock, valued at approximately $5,959,260.20. This represents a 7.85% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 4,580 shares of company stock valued at $1,671,235. Corporate insiders own 0.70% of the company’s stock.

LPL Financial 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 enterprises in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, fixed income, alternative investments, retirement and 529 education savings plans, and insurance.