Family Wealth Partners LLC Sells 7,826 Shares of LPL Financial Holdings Inc. $LPLA

Family Wealth Partners LLC cut its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 11.3% in the third quarter, HoldingsChannel.com reports. The firm owned 61,247 shares of the financial services provider’s stock after selling 7,826 shares during the period. LPL Financial accounts for approximately 5.7% of Family Wealth Partners LLC’s investment portfolio, making the stock its 3rd biggest holding. Family Wealth Partners LLC’s holdings in LPL Financial were worth $18,729,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of LPLA. KWB Wealth boosted its holdings in shares of LPL Financial by 0.5% in the 3rd quarter. KWB Wealth now owns 28,889 shares of the financial services provider’s stock valued at $8,834,000 after buying an additional 138 shares in the last quarter. Vontobel Holding Ltd. raised its stake in shares of LPL Financial by 10.0% during the 3rd quarter. Vontobel Holding Ltd. now owns 976 shares of the financial services provider’s stock worth $298,000 after acquiring an additional 89 shares in the last quarter. V Square Quantitative Management LLC raised its stake in shares of LPL Financial by 2.5% during the 3rd quarter. V Square Quantitative Management LLC now owns 1,459 shares of the financial services provider’s stock worth $446,000 after acquiring an additional 36 shares in the last quarter. Krilogy Financial LLC bought a new position in shares of LPL Financial during the 3rd quarter worth approximately $307,000. Finally, Valley Wealth Managers Inc. lifted its position in LPL Financial by 5.7% during the third quarter. Valley Wealth Managers Inc. now owns 2,465 shares of the financial services provider’s stock valued at $754,000 after acquiring an additional 132 shares during the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on LPLA shares. Citizens Jmp restated a “market outperform” rating and issued a $500.00 target price on shares of LPL Financial in a research note on Monday, October 5th. Wells Fargo & Company began coverage on LPL Financial in a research report on Friday, October 2nd. They set an “overweight” rating and a $362.00 price target on the stock. Barclays upped their price target on LPL Financial from $401.00 to $409.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 7th. Truist Financial set a $354.00 price objective on LPL Financial in a report on Tuesday, October 13th. Finally, Bank of America lowered their price objective on LPL Financial from $557.00 to $554.00 and set a “buy” rating for the company in a research report on Monday, October 5th. Fourteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, LPL Financial presently has an average rating of “Moderate Buy” and an average price target of $409.69.

LPL Financial Price Performance

Shares of LPLA stock opened at $316.16 on Tuesday. LPL Financial Holdings Inc. has a fifty-two week low of $260.15 and a fifty-two week high of $400.16. The firm has a market capitalization of $24.89 billion, a price-to-earnings ratio of 25.21, a PEG ratio of 0.55 and a beta of 0.53. The company has a debt-to-equity ratio of 1.30, a quick ratio of 2.39 and a current ratio of 2.39. The stock’s 50-day simple moving average is $341.42 and its 200-day simple moving average is $320.25.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $5.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.39 by $0.45. The firm had revenue of $5.19 billion for the quarter, compared to the consensus estimate of $5.04 billion. LPL Financial had a net margin of 5.13% and a return on equity of 32.20%. The company’s revenue for the quarter was up 35.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.51 earnings per share. As a group, equities analysts forecast that LPL Financial Holdings Inc. will post 23.83 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Friday, August 14th. LPL Financial’s payout ratio is currently 9.57%.

Insider Activity at LPL Financial

In other LPL Financial news, insider Katharine Reeping sold 440 shares of the firm’s stock in a transaction on Friday, September 11th. The shares were sold at an average price of $347.88, for a total value of $153,067.20. Following the completion of the transaction, the insider owned 1,774 shares of the company’s stock, valued at approximately $617,139.12. This trade represents a 19.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Matthew Enyedi sold 1,000 shares of the firm’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $352.72, for a total transaction of $352,720.00. Following the completion of the transaction, the director directly owned 13,121 shares of the company’s stock, valued at approximately $4,628,039.12. This represents a 7.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 5,867 shares of company stock worth $2,079,664 in the last quarter. 0.60% of the stock is currently owned by company insiders.

LPL Financial Profile

LPL Financial Holdings Inc is a financial services company that supports independent financial advisors and institutions across the United States. Through its primary subsidiary, LPL Financial LLC, the company provides brokerage, investment advisory, and custodial services, enabling advisors to serve individual investors, families, retirement plans, and other clients.

LPL’s platform includes access to brokerage and advisory products, securities clearing and custody, trading and operations support, technology, compliance services, investment research, and practice-management resources.