NewEdge Wealth LLC Decreases Position in LPL Financial Holdings Inc. $LPLA

NewEdge Wealth LLC trimmed its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 35.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,914 shares of the financial services provider’s stock after selling 7,056 shares during the quarter. NewEdge Wealth LLC’s holdings in LPL Financial were worth $3,885,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Osterweis Capital Management Inc. acquired a new position in shares of LPL Financial in the 2nd quarter valued at $26,000. Clearstead Advisors LLC raised 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 worth $27,000 after acquiring an additional 73 shares in the last quarter. Steigerwald Gordon & Koch Inc. raised its stake in LPL Financial by 550.0% during the 4th quarter. Steigerwald Gordon & Koch Inc. now owns 78 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 66 shares in the last quarter. Core Wealth Advisors LLC purchased a new stake in LPL Financial in the fourth quarter valued at $36,000. Finally, Physician Wealth Advisors Inc. lifted its position in LPL Financial by 580.0% in the first quarter. Physician Wealth Advisors Inc. now owns 136 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 116 shares during the last quarter. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Aneri Jambusaria sold 308 shares of the business’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $306.00, for a total value of $94,248.00. Following the transaction, the director owned 6,415 shares in the company, valued at $1,962,990. The trade was a 4.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on LPLA shares. Morgan Stanley raised their price objective on LPL Financial from $374.00 to $387.00 and gave the stock an “overweight” rating in a report on Friday, July 10th. Keefe, Bruyette & Woods started coverage on LPL Financial in a report on Wednesday, April 8th. They issued an “outperform” rating and a $350.00 target price for the company. JPMorgan Chase & Co. upped their target price on LPL Financial from $390.00 to $408.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. William Blair reissued an “outperform” rating on shares of LPL Financial in a research report on Thursday, June 4th. Finally, Jefferies Financial Group dropped their price target on LPL Financial from $464.00 to $383.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $397.92.

LPL Financial Stock Up 1.6%

Shares of NASDAQ:LPLA opened at $328.55 on Friday. LPL Financial Holdings Inc. has a 1-year low of $260.15 and a 1-year high of $403.58. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.56 and a quick ratio of 2.56. The stock has a market cap of $26.28 billion, a P/E ratio of 29.33, a P/E/G ratio of 0.63 and a beta of 0.50. The firm has a fifty day moving average price of $296.47 and a 200 day moving average price of $317.14.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Thursday, April 30th. The financial services provider reported $5.60 EPS for the quarter, beating analysts’ consensus estimates of $5.49 by $0.11. LPL Financial had a net margin of 4.93% and a return on equity of 31.26%. The company had revenue of $4.94 billion for the quarter, compared to analyst estimates of $4.98 billion. During the same period in the previous year, the business posted $5.15 earnings per share. LPL Financial’s quarterly revenue was up 34.6% on a year-over-year basis. Sell-side analysts predict that LPL Financial Holdings Inc. will post 23.38 EPS for the current year.

LPL Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 21st were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.4%. LPL Financial’s dividend payout ratio (DPR) is currently 10.71%.

LPL Financial 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.