WPG Advisers LLC Acquires New Position in LPL Financial Holdings Inc. $LPLA

WPG Advisers LLC acquired a new position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 510 shares of the financial services provider’s stock, valued at approximately $167,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of LPLA. Summit Securities Group LLC acquired a new stake in shares of LPL Financial during the 1st quarter worth approximately $26,000. Millstone Evans Group LLC increased its stake in shares of LPL Financial by 123.1% in the first quarter. Millstone Evans Group LLC now owns 87 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 48 shares during the period. Private Trust Co. NA increased its position in LPL Financial by 234.5% in the 1st quarter. Private Trust Co. NA now owns 97 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 68 shares during the period. MassMutual Private Wealth & Trust FSB increased its holdings in shares of LPL Financial by 63.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 100 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 39 shares during the period. Finally, City Holding Co. acquired a new position in LPL Financial during the 1st quarter valued at about $34,000. 95.66% of the stock is currently owned by institutional investors and hedge funds.

LPL Financial Stock Down 0.3%

Shares of LPL Financial stock opened at $364.83 on Friday. The firm has a market cap of $29.19 billion, a price-to-earnings ratio of 24.95, a P/E/G ratio of 0.86 and a beta of 0.66. The stock has a 50-day simple moving average of $372.27 and a 200-day simple moving average of $355.66. LPL Financial Holdings Inc. has a 52-week low of $204.41 and a 52-week 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.

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 analysts’ consensus estimates of $4.21 by $0.30. LPL Financial had a net margin of 7.91% and a return on equity of 39.80%. The firm had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3.77 billion. During the same period in the previous year, the company earned $3.88 earnings per share. The company’s revenue was up 30.8% compared to the same quarter last year. On average, equities research analysts expect that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be issued a $0.30 dividend. The ex-dividend date is Friday, August 15th. This represents a $1.20 dividend on an annualized basis and a yield of 0.3%. LPL Financial’s dividend payout ratio is currently 8.21%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on LPLA. Barclays lifted their price target on LPL Financial from $460.00 to $463.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Morgan Stanley restated an “overweight” rating and set a $490.00 price target (up previously from $450.00) on shares of LPL Financial in a report on Tuesday, July 15th. JMP Securities increased their price objective on LPL Financial from $420.00 to $440.00 and gave the stock a “market outperform” rating in a research note on Friday, May 9th. Citigroup downgraded LPL Financial from a “neutral” rating to a “sell” rating and set a $80.00 target price on the stock. in a report on Wednesday, July 9th. Finally, TD Cowen cut shares of LPL Financial from a “strong-buy” rating to a “hold” rating and decreased their price target for the stock from $406.00 to $403.00 in a report on Wednesday, July 9th. Ten analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $383.58.

Insider Buying and Selling

In other LPL Financial news, Director Greg Gates sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $374.05, for a total transaction of $561,075.00. Following the transaction, the director directly owned 19,120 shares in the company, valued at $7,151,836. This trade represents a 7.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is owned by insiders.

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.