SG Americas Securities LLC Acquires 2,181 Shares of LPL Financial Holdings Inc. $LPLA

SG Americas Securities LLC lifted its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 37.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,052 shares of the financial services provider’s stock after purchasing an additional 2,181 shares during the quarter. SG Americas Securities LLC’s holdings in LPL Financial were worth $2,422,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of LPLA. Osterweis Capital Management Inc. acquired a new stake in shares of LPL Financial in the 2nd quarter valued at $26,000. Clearstead Advisors LLC increased its position in LPL Financial by 3,650.0% during the fourth quarter. Clearstead Advisors LLC now owns 75 shares of the financial services provider’s stock worth $27,000 after buying an additional 73 shares during the last quarter. Steigerwald Gordon & Koch Inc. raised its holdings in LPL Financial by 550.0% during the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 78 shares of the financial services provider’s stock valued at $28,000 after buying an additional 66 shares in the last quarter. Core Wealth Advisors LLC bought a new position in LPL Financial during the fourth quarter valued at about $36,000. Finally, Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in shares of LPL Financial in the fourth quarter worth about $50,000. Institutional investors own 95.66% of the company’s stock.

Analysts Set New Price Targets

LPLA has been the subject of several recent analyst reports. William Blair reiterated an “outperform” rating on shares of LPL Financial in a research note on Thursday, June 4th. Citizens Jmp reissued a “market outperform” rating and issued a $500.00 price objective on shares of LPL Financial in a research note on Monday, April 6th. JPMorgan Chase & Co. decreased their target price on LPL Financial from $396.00 to $390.00 and set an “overweight” rating for the company in a research report on Friday, May 1st. UBS Group increased their price target on LPL Financial from $380.00 to $395.00 and gave the company a “buy” rating in a report on Friday, May 1st. Finally, Barclays lifted their price target on shares of LPL Financial from $369.00 to $412.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $398.86.

LPL Financial Trading Up 4.1%

LPL Financial stock opened at $293.27 on Thursday. LPL Financial Holdings Inc. has a 52 week low of $260.15 and a 52 week high of $403.58. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.56 and a current ratio of 2.56. The firm has a market capitalization of $23.46 billion, a PE ratio of 26.18, a PEG ratio of 0.58 and a beta of 0.50. The business’s 50-day simple moving average is $296.02 and its 200-day simple moving average is $322.64.

LPL Financial (NASDAQ:LPLA) last announced its earnings results on Thursday, April 30th. The financial services provider reported $5.60 earnings per share for the quarter, beating the consensus estimate of $5.49 by $0.11. The firm had revenue of $4.94 billion during the quarter, compared to the consensus estimate of $4.98 billion. LPL Financial had a return on equity of 31.26% and a net margin of 4.93%.The firm’s revenue for the quarter was up 34.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.15 EPS. Equities research analysts forecast that LPL Financial Holdings Inc. will post 22.94 earnings per share for the current year.

LPL Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Stockholders 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 of this dividend was Thursday, May 21st. LPL Financial’s dividend payout ratio is currently 10.71%.

Insider Buying and Selling at LPL Financial

In related news, Director Aneri Jambusaria sold 308 shares of the company’s stock in a transaction 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 directly owned 6,415 shares in the company, valued at $1,962,990. This represents a 4.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Matthew J. Audette sold 1,110 shares of the stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $330.01, for a total transaction of $366,311.10. Following the completion of the sale, the chief financial officer directly owned 19,803 shares of the company’s stock, valued at approximately $6,535,188.03. This trade represents a 5.31% decrease in their ownership of the stock. 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. In the last 90 days, insiders sold 1,887 shares of company stock worth $613,144. 0.60% of the stock is currently owned by corporate insiders.

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.