LPL Financial (NASDAQ:LPLA) Director Matthew Enyedi Sells 1,000 Shares of Stock

LPL Financial Holdings Inc. (NASDAQ:LPLA) Director Matthew Enyedi sold 1,000 shares of the stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $352.72, for a total transaction of $352,720.00. Following the sale, the director directly owned 13,121 shares in the company, valued at $4,628,039.12. This trade represents a 7.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

LPL Financial Stock Performance

Shares of LPL Financial stock opened at $354.24 on Wednesday. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.56 and a quick ratio of 2.56. The firm has a 50 day simple moving average of $304.69 and a 200 day simple moving average of $315.77. LPL Financial Holdings Inc. has a fifty-two week low of $260.15 and a fifty-two week high of $400.16. The firm has a market cap of $28.33 billion, a P/E ratio of 28.25, a P/E/G ratio of 0.69 and a beta of 0.48.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data on Thursday, July 30th. The financial services provider reported $5.84 EPS for the quarter, beating analysts’ consensus estimates of $5.39 by $0.45. The firm had revenue of $5.19 billion for the quarter, compared to analyst estimates of $5.04 billion. LPL Financial had a return on equity of 32.80% and a net margin of 5.13%.The business’s quarterly revenue was up 35.2% compared to the same quarter last year. During the same period last year, the company earned $4.51 EPS. Sell-side analysts predict that LPL Financial Holdings Inc. will post 23.69 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.3%. The ex-dividend date is Friday, August 14th. LPL Financial’s dividend payout ratio is currently 9.57%.

Institutional Trading of LPL Financial

A number of institutional investors have recently made changes to their positions in the business. Osterweis Capital Management Inc. bought a new position in LPL Financial in the second quarter valued at $26,000. Clearstead Advisors LLC grew its stake in LPL Financial by 3,650.0% in the fourth quarter. Clearstead Advisors LLC now owns 75 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 73 shares in the last quarter. Steigerwald Gordon & Koch Inc. grew its stake in LPL Financial by 550.0% in the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 78 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 66 shares in the last quarter. Core Wealth Advisors LLC acquired a new position in shares of LPL Financial during the 4th quarter worth approximately $36,000. Finally, Physician Wealth Advisors Inc. increased its position in shares of LPL Financial by 580.0% during the 1st quarter. Physician Wealth Advisors Inc. now owns 136 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 116 shares during the last quarter. Institutional investors own 95.66% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on LPLA. William Blair reissued an “outperform” rating on shares of LPL Financial in a research note on Thursday, June 4th. BMO Capital Markets increased their target price on shares of LPL Financial from $300.00 to $390.00 and gave the stock an “outperform” rating in a report on Monday. Morgan Stanley increased their target price on shares of LPL Financial from $374.00 to $387.00 and gave the stock an “overweight” rating in a report on Friday, July 10th. TD Cowen boosted their price target on shares of LPL Financial from $330.00 to $372.00 and gave the company a “hold” rating in a report on Friday. Finally, UBS Group lowered their price objective on shares of LPL Financial from $395.00 to $391.00 and set a “buy” rating for the company in a research report on Wednesday, July 8th. Eleven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, LPL Financial has an average rating of “Moderate Buy” and a consensus price target of $408.54.

About LPL Financial

LPL Financial (NASDAQ: LPLA) is a U.S.-focused financial services firm that provides brokerage, custodial and advisory platforms to independent financial advisors, registered investment advisers and institutions. Operating primarily as an independent broker-dealer and custodian, the company supports a network of advisors with the operational, compliance and clearing infrastructure needed to manage client accounts and deliver investment advice outside of traditional wirehouse models.

The firm’s product and service offerings include trade execution and clearing, custody services, retirement plan services, model portfolio and advisory platforms, wealth management technology, investment research and product access across equities, fixed income, mutual funds, exchange-traded funds and insurance and annuity solutions.