LPL Financial Holdings Inc. $LPLA Stock Holdings Lessened by Checchi Capital Advisers LLC

Checchi Capital Advisers LLC reduced its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 6.8% during the second quarter, HoldingsChannel reports. The institutional investor owned 669 shares of the financial services provider’s stock after selling 49 shares during the period. Checchi Capital Advisers LLC’s holdings in LPL Financial were worth $251,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. DAVENPORT & Co LLC lifted its position in shares of LPL Financial by 8.9% in the 1st quarter. DAVENPORT & Co LLC now owns 1,918 shares of the financial services provider’s stock worth $627,000 after buying an additional 156 shares during the last quarter. JPMorgan Chase & Co. lifted its position in LPL Financial by 8.8% in the 1st quarter. JPMorgan Chase & Co. now owns 1,304,780 shares of the financial services provider’s stock valued at $426,846,000 after purchasing an additional 105,665 shares during the last quarter. Amalgamated Bank lifted its position in LPL Financial by 3.8% in the 1st quarter. Amalgamated Bank now owns 5,875 shares of the financial services provider’s stock valued at $1,922,000 after purchasing an additional 213 shares during the last quarter. Blue Trust Inc. lifted its position in LPL Financial by 2,319.1% in the 1st quarter. Blue Trust Inc. now owns 1,137 shares of the financial services provider’s stock valued at $372,000 after purchasing an additional 1,090 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in LPL Financial by 198.3% in the 1st quarter. Nisa Investment Advisors LLC now owns 6,497 shares of the financial services provider’s stock valued at $2,125,000 after purchasing an additional 4,319 shares during the last quarter. 95.66% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Aneri Jambusaria sold 80 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $361.25, for a total transaction of $28,900.00. Following the transaction, the director directly owned 5,582 shares of the company’s stock, valued at approximately $2,016,497.50. The trade was a 1.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Greg Gates sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 5th. The shares were 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. The trade was a 7.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,080 shares of company stock valued at $1,097,290. Corporate insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of LPL Financial from $425.00 to $435.00 and gave the company an “outperform” rating in a research report on Monday, August 4th. Weiss Ratings reissued a “hold (c+)” rating on shares of LPL Financial in a research note on Saturday, September 27th. TD Cowen cut shares of LPL Financial from a “strong-buy” rating to a “hold” rating and lowered their target price for the company from $406.00 to $403.00 in a research note on Wednesday, July 9th. Morgan Stanley lowered their target price on shares of LPL Financial from $490.00 to $462.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 1st. Finally, Wall Street Zen cut shares of LPL Financial from a “buy” rating to a “hold” rating in a research note on Saturday, June 14th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $395.77.

LPL Financial Stock Performance

Shares of LPLA opened at $317.32 on Wednesday. LPL Financial Holdings Inc. has a 12-month low of $236.59 and a 12-month high of $403.58. The firm’s 50 day moving average is $351.25 and its 200-day moving average is $353.65. The stock has a market capitalization of $25.39 billion, a P/E ratio of 21.70, a P/E/G ratio of 0.73 and a beta of 0.61. 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 announced its earnings results on Thursday, July 31st. The financial services provider reported $4.51 EPS for the quarter, topping the consensus estimate of $4.21 by $0.30. LPL Financial had a net margin of 7.91% and a return on equity of 39.80%. The company had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3.77 billion. During the same period last year, the company posted $3.88 earnings per share. The business’s revenue for the quarter was up 30.8% on a year-over-year basis. Equities research analysts anticipate that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Dividend Announcement

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

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.