Family Wealth Partners LLC Sells 2,458 Shares of LPL Financial Holdings Inc. $LPLA

Family Wealth Partners LLC lowered its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 3.4% during the 2nd quarter, Holdings Channel reports. The fund owned 69,073 shares of the financial services provider’s stock after selling 2,458 shares during the period. LPL Financial makes up 6.0% of Family Wealth Partners LLC’s portfolio, making the stock its 2nd largest holding. Family Wealth Partners LLC’s holdings in LPL Financial were worth $19,456,000 as of its most recent SEC filing.

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

LPL Financial Trading Down 0.2%

NASDAQ LPLA opened at $371.19 on Wednesday. The firm has a market capitalization of $29.23 billion, a P/E ratio of 29.60, a PEG ratio of 0.63 and a beta of 0.48. The business has a fifty day simple moving average of $314.01 and a 200 day simple moving average of $315.44. LPL Financial Holdings Inc. has a 12 month low of $260.15 and a 12 month high of $400.16. The company has a current ratio of 2.39, a quick ratio of 2.39 and a debt-to-equity ratio of 1.30.

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, topping analysts’ consensus estimates 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 business’s revenue for the quarter was up 35.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.51 EPS. On average, analysts predict that LPL Financial Holdings Inc. will post 24.09 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be given a dividend of $0.30 per share. 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 (DPR) is presently 9.57%.

Insider Activity

In other LPL Financial news, Director Aneri Jambusaria sold 308 shares of LPL Financial 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 transaction, the director owned 6,415 shares of the company’s stock, valued at $1,962,990. This trade represents a 4.58% 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 Matthew Enyedi sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $352.72, for a total value of $352,720.00. Following the completion of the transaction, the director owned 13,121 shares in the company, valued at $4,628,039.12. The trade was 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. 0.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on LPLA. Morgan Stanley upped their price objective on shares of LPL Financial from $374.00 to $387.00 and gave the stock an “overweight” rating in a report on Friday, July 10th. Barclays lifted their price objective on shares of LPL Financial from $394.00 to $401.00 and gave the company an “overweight” rating in a report on Friday, July 31st. BMO Capital Markets boosted their target price on shares of LPL Financial from $300.00 to $390.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. Weiss Ratings restated a “hold (c)” rating on shares of LPL Financial in a report on Friday, July 24th. Finally, UBS Group dropped their price target on shares of LPL Financial from $395.00 to $391.00 and set a “buy” rating on the stock in a research report on Wednesday, July 8th. Eleven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $408.54.

LPL Financial 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.