UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $162.82 Million Stock Holdings in LPL Financial Holdings Inc. $LPLA

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 2.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 578,032 shares of the financial services provider’s stock after selling 13,634 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in LPL Financial were worth $162,820,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in LPLA. Osterweis Capital Management Inc. acquired a new stake in shares of LPL Financial in the 2nd quarter worth about $26,000. Clearstead Advisors LLC boosted its stake in LPL Financial by 3,650.0% during the 4th 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 during the last quarter. Core Wealth Advisors LLC acquired a new position in LPL Financial during the 4th quarter valued at about $36,000. Physician Wealth Advisors Inc. increased its holdings in 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 in the last quarter. Finally, Pinpoint Asset Management Singapore Pte. Ltd. purchased a new stake in shares of LPL Financial in the fourth quarter valued at about $50,000. 95.66% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Greg Gates sold 4,119 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $355.38, for a total value of $1,463,810.22. Following the transaction, the director owned 23,602 shares in the company, valued at approximately $8,387,678.76. This represents a 14.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Matthew Enyedi sold 1,000 shares of the stock in a transaction on Friday, July 31st. The shares were sold at an average price of $352.72, for a total value of $352,720.00. Following the transaction, the director directly owned 13,121 shares of the company’s stock, valued at approximately $4,628,039.12. This trade represents a 7.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 5,735 shares of company stock valued at $2,020,845. 0.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. BMO Capital Markets raised their price target on shares of LPL Financial from $300.00 to $390.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. UBS Group decreased 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 note on Wednesday, July 8th. Wolfe Research reissued an “outperform” rating and set a $454.00 target price on shares of LPL Financial in a research report on Wednesday, August 12th. Morgan Stanley boosted their target price on LPL Financial from $374.00 to $387.00 and gave the stock an “overweight” rating in a research note on Friday, July 10th. Finally, TD Cowen upped their target price on LPL Financial from $372.00 to $377.00 and gave the company a “hold” rating in a report on Tuesday. Twelve analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, LPL Financial presently has a consensus rating of “Moderate Buy” and an average price target of $405.79.

LPL Financial Price Performance

LPLA opened at $357.63 on Wednesday. The firm has a market cap of $28.16 billion, a P/E ratio of 28.52, a PEG ratio of 0.62 and a beta of 0.48. The firm has a 50-day moving average of $335.83 and a 200 day moving average of $314.87. The company has a debt-to-equity ratio of 1.30, a quick ratio of 2.39 and a current ratio of 2.39. LPL Financial Holdings Inc. has a fifty-two week low of $260.15 and a fifty-two week high of $400.16.

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, topping the consensus estimate of $5.39 by $0.45. The business had revenue of $5.19 billion for the quarter, compared to analyst estimates of $5.04 billion. LPL Financial had a net margin of 5.13% and a return on equity of 32.20%. The company’s revenue for the quarter was up 35.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.51 earnings per share. On average, research analysts expect that LPL Financial Holdings Inc. will post 24.09 EPS for the current year.

LPL Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Friday, August 14th. LPL Financial’s payout ratio is 9.57%.

LPL Financial Company Profile

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.