Polar Asset Management Partners Inc. Purchases Shares of 3,736 LPL Financial Holdings Inc. $LPLA

Polar Asset Management Partners Inc. purchased a new position in LPL Financial Holdings Inc. (NASDAQ:LPLA) in the 2nd quarter, HoldingsChannel reports. The fund purchased 3,736 shares of the financial services provider’s stock, valued at approximately $1,052,000.

Several other hedge funds have also modified their holdings of LPLA. Osterweis Capital Management Inc. purchased a new position in LPL Financial in the second quarter valued at $26,000. Clearstead Advisors LLC grew its stake in LPL Financial by 3,650.0% during 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 purchased a new stake in LPL Financial during the 4th quarter worth about $36,000. Physician Wealth Advisors Inc. increased its holdings in LPL Financial by 580.0% during the 1st quarter. Physician Wealth Advisors Inc. now owns 136 shares of the financial services provider’s stock worth $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 about $50,000. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at LPL Financial

In other news, Director Matthew Enyedi sold 1,000 shares of the company’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 transaction of $352,720.00. Following the completion of the sale, the director owned 13,121 shares in the company, valued at $4,628,039.12. This represents a 7.08% decrease in their ownership of the stock. 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, Director Aneri Jambusaria sold 308 shares of the firm’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $306.00, for a total transaction of $94,248.00. Following the completion of the sale, 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 5,427 shares of company stock valued at $1,910,778 in the last ninety days. Insiders own 0.60% of the company’s stock.

LPL Financial Stock Down 0.5%

Shares of NASDAQ:LPLA opened at $360.24 on Thursday. The stock has a market cap of $28.37 billion, a P/E ratio of 28.73, a P/E/G ratio of 0.61 and a beta of 0.48. The firm has a fifty day moving average price of $330.25 and a 200 day moving average price of $315.00. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.39 and a quick ratio of 2.39. LPL Financial Holdings Inc. has a 1-year low of $260.15 and a 1-year high of $400.16.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $5.84 EPS for the quarter, beating analysts’ consensus estimates of $5.39 by $0.45. LPL Financial had a net margin of 5.13% and a return on equity of 32.20%. The company had revenue of $5.19 billion for the quarter, compared to analyst estimates of $5.04 billion. During the same period in the previous year, the business posted $4.51 earnings per share. LPL Financial’s quarterly revenue was up 35.2% on a year-over-year basis. Sell-side analysts predict that LPL Financial Holdings Inc. will post 24.09 EPS for the current year.

LPL Financial Announces Dividend

The business 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 $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.3%. The ex-dividend date is Friday, August 14th. LPL Financial’s payout ratio is 9.57%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on LPLA shares. Barclays lifted their price objective on LPL Financial from $394.00 to $401.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. BMO Capital Markets raised their target price on shares of LPL Financial from $300.00 to $390.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. UBS Group decreased their price target on shares of LPL Financial from $395.00 to $391.00 and set a “buy” rating for the company in a research note on Wednesday, July 8th. Wolfe Research reiterated an “outperform” rating and set a $454.00 price target on shares of LPL Financial in a report on Wednesday, August 12th. Finally, William Blair reiterated an “outperform” rating on shares of LPL Financial in a report on Thursday, June 4th. Twelve research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $406.69.

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.