USA Financial Formulas Takes Position in LPL Financial Holdings Inc. $LPLA

USA Financial Formulas acquired a new stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 716 shares of the financial services provider’s stock, valued at approximately $268,000.

A number of other institutional investors and hedge funds have also modified their holdings of LPLA. Compass Financial Services Inc lifted its stake in shares of LPL Financial by 14.5% during the first quarter. Compass Financial Services Inc now owns 229 shares of the financial services provider’s stock valued at $75,000 after acquiring an additional 29 shares during the period. Magnolia Private Wealth LLC lifted its stake in shares of LPL Financial by 2.0% during the second quarter. Magnolia Private Wealth LLC now owns 1,662 shares of the financial services provider’s stock valued at $623,000 after acquiring an additional 33 shares during the period. Koshinski Asset Management Inc. lifted its stake in shares of LPL Financial by 4.9% during the first quarter. Koshinski Asset Management Inc. now owns 812 shares of the financial services provider’s stock valued at $266,000 after acquiring an additional 38 shares during the period. MassMutual Private Wealth & Trust FSB lifted its stake in shares of LPL Financial by 63.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 100 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 39 shares during the period. Finally, Cigna Investments Inc. New lifted its stake in shares of LPL Financial by 5.4% during the second quarter. Cigna Investments Inc. New now owns 786 shares of the financial services provider’s stock valued at $295,000 after acquiring an additional 40 shares during the period. 95.66% of the stock is currently owned by institutional investors.

LPL Financial Stock Down 4.7%

Shares of LPL Financial stock opened at $317.00 on Thursday. LPL Financial Holdings Inc. has a 1 year low of $222.74 and a 1 year high of $403.58. The business has a 50-day moving average of $356.76 and a two-hundred day moving average of $353.91. The company has a market capitalization of $25.36 billion, a P/E ratio of 21.68, a price-to-earnings-growth ratio of 0.78 and a beta of 0.61. The company has a debt-to-equity ratio of 1.41, a current ratio of 3.22 and a quick ratio of 3.22.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings results on Thursday, July 31st. The financial services provider reported $4.51 earnings per share (EPS) for the quarter, topping 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 company had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.77 billion. During the same period in the prior year, the company earned $3.88 earnings per share. The company’s revenue for the quarter was up 30.8% compared to the same quarter last year. As a group, equities analysts predict that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were issued 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 (DPR) is presently 8.21%.

Wall Street Analysts Forecast Growth

LPLA has been the topic of several research reports. The Goldman Sachs Group started coverage on LPL Financial in a research note on Friday, September 12th. They set a “buy” rating and a $405.00 price target on the stock. Rothschild & Co Redburn lowered LPL Financial from a “buy” rating to a “neutral” rating and set a $390.00 target price on the stock. in a research note on Friday, September 19th. Keefe, Bruyette & Woods increased their target price on LPL Financial from $425.00 to $435.00 and gave the company an “outperform” rating in a research note on Monday, August 4th. Rothschild Redb lowered LPL Financial from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 19th. Finally, Wall Street Zen lowered LPL Financial from a “buy” rating to a “hold” rating in a research note on Saturday, June 14th. Ten equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, LPL Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $389.38.

Insider Transactions at LPL Financial

In related news, Director Aneri Jambusaria sold 80 shares of the stock in a transaction dated 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 transaction, the director directly owned 5,582 shares in the company, valued at approximately $2,016,497.50. This trade represents a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Greg Gates sold 1,500 shares of the stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $374.05, for a total value of $561,075.00. Following the transaction, the director owned 19,120 shares of the company’s stock, valued at approximately $7,151,836. The trade was a 7.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,080 shares of company stock valued at $1,097,290. 1.30% of the stock is owned by corporate insiders.

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.