Simplicity Wealth LLC Takes $545,000 Position in LPL Financial Holdings Inc. $LPLA

Simplicity Wealth LLC acquired a new position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,935 shares of the financial services provider’s stock, valued at approximately $545,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Osterweis Capital Management Inc. acquired a new position in shares of LPL Financial during the second quarter worth approximately $26,000. Clearstead Advisors LLC lifted its position in shares of LPL Financial by 3,650.0% during the 4th quarter. Clearstead Advisors LLC now owns 75 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 73 shares during the last quarter. Core Wealth Advisors LLC acquired a new stake in shares of LPL Financial during the 4th quarter valued at $36,000. Physician Wealth Advisors Inc. boosted its stake in shares of LPL Financial by 580.0% during the 1st quarter. Physician Wealth Advisors Inc. now owns 136 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 116 shares in the last quarter. Finally, Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in shares of LPL Financial during the 4th quarter worth $50,000. 95.66% of the stock is currently owned by institutional investors.

LPL Financial Stock Performance

Shares of LPL Financial stock opened at $368.20 on Tuesday. LPL Financial Holdings Inc. has a 12 month low of $260.15 and a 12 month high of $400.16. The company has a quick ratio of 2.39, a current ratio of 2.39 and a debt-to-equity ratio of 1.30. The stock has a market cap of $28.99 billion, a PE ratio of 29.36, a price-to-earnings-growth ratio of 0.62 and a beta of 0.48. The business has a fifty day simple moving average of $320.89 and a 200-day simple moving average of $315.63.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings results on Thursday, July 30th. The financial services provider reported $5.84 earnings per share for the quarter, beating the consensus estimate of $5.39 by $0.45. LPL Financial had a return on equity of 32.20% and a net margin of 5.13%.The firm had revenue of $5.19 billion for the quarter, compared to analyst estimates of $5.04 billion. During the same period in the previous year, the firm earned $4.51 earnings per share. LPL Financial’s quarterly revenue was up 35.2% on a year-over-year basis. On average, sell-side analysts anticipate that LPL Financial Holdings Inc. will post 24.09 EPS for the current fiscal year.

LPL Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, August 14th. LPL Financial’s dividend payout ratio is 9.57%.

Insider Buying and Selling

In other LPL Financial news, Director Matthew Enyedi sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $352.72, for a total value of $352,720.00. Following the transaction, the director owned 13,121 shares in the company, valued at approximately $4,628,039.12. This represents a 7.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Aneri Jambusaria sold 308 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $306.00, for a total transaction of $94,248.00. Following the completion of the transaction, the director owned 6,415 shares in the company, valued at approximately $1,962,990. This represents a 4.58% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on LPLA. Keefe, Bruyette & Woods boosted their target price on LPL Financial from $365.00 to $390.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. JPMorgan Chase & Co. increased their price target on LPL Financial from $408.00 to $428.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. William Blair reissued an “outperform” rating on shares of LPL Financial in a research note on Thursday, June 4th. BMO Capital Markets boosted their price objective on LPL Financial from $300.00 to $390.00 and gave the stock an “outperform” rating in a report on Monday, August 3rd. Finally, UBS Group reduced their price objective on shares of LPL Financial from $395.00 to $391.00 and set a “buy” rating for the company in a research note on Wednesday, July 8th. Twelve equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, LPL Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $406.69.

LPL Financial Company 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.