Sanctuary Advisors LLC Decreases Position in LPL Financial Holdings Inc. $LPLA

Sanctuary Advisors LLC lessened its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 24.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,486 shares of the financial services provider’s stock after selling 3,768 shares during the quarter. Sanctuary Advisors LLC’s holdings in LPL Financial were worth $3,455,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in LPL Financial in the 4th quarter worth about $450,493,000. M&T Bank Corp increased its stake in shares of LPL Financial by 27,955.5% in the fourth quarter. M&T Bank Corp now owns 1,141,019 shares of the financial services provider’s stock worth $407,538,000 after purchasing an additional 1,136,952 shares in the last quarter. Norges Bank bought a new stake in shares of LPL Financial in the fourth quarter valued at approximately $371,616,000. Capital World Investors raised its position in shares of LPL Financial by 37.9% in the fourth quarter. Capital World Investors now owns 3,625,357 shares of the financial services provider’s stock valued at $1,294,869,000 after purchasing an additional 996,806 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in shares of LPL Financial by 36.3% during the 1st quarter. Principal Financial Group Inc. now owns 2,636,544 shares of the financial services provider’s stock valued at $793,163,000 after buying an additional 702,061 shares in the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Insiders Place Their Bets

In other LPL Financial news, Director Aneri Jambusaria sold 308 shares of the business’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 value of $94,248.00. Following the completion of the transaction, the director owned 6,415 shares of the company’s stock, valued at $1,962,990. The trade was a 4.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is owned by corporate insiders.

LPL Financial Stock Performance

LPL Financial stock opened at $324.90 on Monday. The stock has a market cap of $25.99 billion, a P/E ratio of 29.01, a PEG ratio of 0.63 and a beta of 0.50. LPL Financial Holdings Inc. has a fifty-two week low of $260.15 and a fifty-two week high of $403.58. The firm’s fifty day moving average price is $293.42 and its 200-day moving average price is $317.96. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.56 and a current ratio of 2.56.

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

LPL Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 21st were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Thursday, May 21st. LPL Financial’s dividend payout ratio is 10.71%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on LPLA shares. TD Cowen lowered their target price on shares of LPL Financial from $330.00 to $326.00 and set a “hold” rating on the stock in a report on Friday, May 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LPL Financial in a report on Monday, April 27th. Citizens Jmp reiterated a “market outperform” rating and issued a $500.00 price target on shares of LPL Financial in a research report on Monday, April 6th. UBS Group decreased their price objective on LPL Financial from $395.00 to $391.00 and set a “buy” rating on the stock in a research note on Wednesday, July 8th. Finally, Keefe, Bruyette & Woods began coverage on LPL Financial in a report on Wednesday, April 8th. They set an “outperform” rating and a $350.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, LPL Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of $397.92.

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.