Winthrop Advisory Group LLC Has $7.63 Million Position in LPL Financial Holdings Inc. $LPLA

Winthrop Advisory Group LLC reduced its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 1.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,354 shares of the financial services provider’s stock after selling 225 shares during the quarter. LPL Financial comprises 0.7% of Winthrop Advisory Group LLC’s portfolio, making the stock its 23rd biggest position. Winthrop Advisory Group LLC’s holdings in LPL Financial were worth $7,632,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. KLP Kapitalforvaltning AS increased its stake in LPL Financial by 4.9% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 27,800 shares of the financial services provider’s stock worth $10,424,000 after purchasing an additional 1,300 shares in the last quarter. PUREfi Wealth LLC increased its stake in LPL Financial by 11.7% during the 2nd quarter. PUREfi Wealth LLC now owns 699 shares of the financial services provider’s stock worth $262,000 after purchasing an additional 73 shares in the last quarter. DAVENPORT & Co LLC increased its stake in LPL Financial by 8.2% during the 2nd quarter. DAVENPORT & Co LLC now owns 2,075 shares of the financial services provider’s stock worth $778,000 after purchasing an additional 157 shares in the last quarter. Marks Group Wealth Management Inc acquired a new stake in shares of LPL Financial during the second quarter worth $244,000. Finally, OLD National Bancorp IN raised its holdings in shares of LPL Financial by 16.3% during the second quarter. OLD National Bancorp IN now owns 1,656 shares of the financial services provider’s stock worth $621,000 after acquiring an additional 232 shares during the period. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Aneri Jambusaria sold 80 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $361.25, for a total transaction of $28,900.00. Following the sale, the director owned 5,582 shares in the company, valued at $2,016,497.50. This represents a 1.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Greg Gates sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $338.21, for a total value of $507,315.00. Following the sale, the director owned 17,620 shares in the company, 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 quarter, insiders have sold 3,080 shares of company stock worth $1,097,290. Company insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on LPLA shares. Rothschild Redb lowered shares of LPL Financial from a “strong-buy” rating to a “hold” rating in a report on Friday, September 19th. Keefe, Bruyette & Woods raised their price objective on shares of LPL Financial from $425.00 to $435.00 and gave the stock an “outperform” rating in a report on Monday, August 4th. BMO Capital Markets started coverage on shares of LPL Financial in a report on Friday, October 3rd. They set an “outperform” rating and a $365.00 price objective on the stock. Wells Fargo & Company raised their price objective on shares of LPL Financial from $402.00 to $420.00 and gave the stock an “overweight” rating in a report on Friday, July 11th. Finally, Morgan Stanley cut their target price on LPL Financial from $490.00 to $462.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $395.77.

LPL Financial Trading Up 1.6%

NASDAQ LPLA opened at $317.32 on Wednesday. The stock has a market capitalization of $25.39 billion, a price-to-earnings ratio of 21.70, a PEG ratio of 0.73 and a beta of 0.61. The stock’s 50 day moving average price is $351.25 and its two-hundred day moving average price is $353.65. The company has a debt-to-equity ratio of 1.41, a quick ratio of 3.22 and a current ratio of 3.22. LPL Financial Holdings Inc. has a 52 week low of $236.59 and a 52 week high of $403.58.

LPL Financial (NASDAQ:LPLA) last released its earnings results on Thursday, July 31st. The financial services provider reported $4.51 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 firm had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same quarter in the previous year, the business posted $3.88 EPS. The business’s quarterly revenue was up 30.8% compared to the same quarter last year. As a group, 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 disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were paid a dividend of $0.30 per share. The ex-dividend date was Friday, August 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.4%. LPL Financial’s dividend payout ratio is currently 8.21%.

About LPL Financial

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.