CFO4Life Group LLC Buys New Shares in LPL Financial Holdings Inc. $LPLA

CFO4Life Group LLC purchased a new stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 565 shares of the financial services provider’s stock, valued at approximately $212,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AGF Management Ltd. boosted its position in shares of LPL Financial by 74.9% during the 2nd quarter. AGF Management Ltd. now owns 765,024 shares of the financial services provider’s stock valued at $286,861,000 after acquiring an additional 327,580 shares during the last quarter. Bryn Mawr Trust Advisors LLC bought a new stake in LPL Financial in the second quarter worth $316,000. JPMorgan Chase & Co. raised its stake in LPL Financial by 8.8% during the first 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 in the last quarter. Charles Schwab Investment Management Inc. lifted its position in LPL Financial by 5.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 354,001 shares of the financial services provider’s stock valued at $115,808,000 after purchasing an additional 18,252 shares during the last quarter. Finally, FORA Capital LLC purchased a new position in shares of LPL Financial in the 1st quarter worth $1,728,000. 95.66% of the stock is owned by hedge funds and other institutional investors.

LPL Financial Stock Down 0.5%

Shares of LPLA opened at $370.59 on Friday. The firm has a fifty day moving average price of $342.72 and a 200-day moving average price of $360.87. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 1.49. The firm has a market capitalization of $29.66 billion, a P/E ratio of 34.12, a P/E/G ratio of 0.82 and a beta of 0.63. LPL Financial Holdings Inc. has a 12-month low of $262.83 and a 12-month high of $403.58.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data on Thursday, October 30th. The financial services provider reported $5.20 earnings per share for the quarter, beating analysts’ consensus estimates of $4.49 by $0.71. The company had revenue of $4.55 billion during the quarter, compared to analyst estimates of $4.08 billion. LPL Financial had a net margin of 5.35% and a return on equity of 36.80%. The firm’s revenue for the quarter was up 46.4% on a year-over-year basis. During the same quarter last year, the business posted $4.16 EPS. Equities research analysts expect that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Thursday, November 13th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.3%. The ex-dividend date is Thursday, November 13th. LPL Financial’s dividend payout ratio (DPR) is presently 11.05%.

Insiders Place Their Bets

In other LPL Financial news, Director Aneri Jambusaria sold 80 shares of LPL Financial stock in a transaction 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 completion of the sale, the director directly owned 5,582 shares of the company’s stock, valued at $2,016,497.50. The trade was a 1.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Greg Gates sold 1,500 shares of the stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $376.43, for a total value of $564,645.00. Following the transaction, the director directly owned 15,370 shares in the company, valued at $5,785,729.10. The trade was a 8.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 3,830 shares of company stock valued at $1,336,675. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on LPLA shares. Weiss Ratings restated a “hold (c)” rating on shares of LPL Financial in a research report on Friday, October 31st. Rothschild Redb downgraded LPL Financial from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 19th. TD Cowen increased their price target on LPL Financial from $356.00 to $410.00 and gave the company a “hold” rating in a report on Monday, November 3rd. Rothschild & Co Redburn lowered shares of LPL Financial from a “buy” rating to a “neutral” rating and set a $390.00 price objective for the company. in a research note on Friday, September 19th. Finally, Morgan Stanley cut their price objective on shares of LPL Financial from $490.00 to $462.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $429.00.

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.