LPL Financial Holdings Inc (NASDAQ:LPLA) CEO Dan H. Arnold sold 11,206 shares of the stock in a transaction that occurred on Wednesday, March 7th. The shares were sold at an average price of $63.46, for a total transaction of $711,132.76. Following the completion of the sale, the chief executive officer now directly owns 229,761 shares in the company, valued at $14,580,633.06. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.
Dan H. Arnold also recently made the following trade(s):
- On Monday, February 26th, Dan H. Arnold sold 4,004 shares of LPL Financial stock. The shares were sold at an average price of $65.20, for a total transaction of $261,060.80.
LPL Financial Holdings Inc (NASDAQ LPLA) opened at $65.45 on Friday. The company has a debt-to-equity ratio of 2.47, a current ratio of 1.39 and a quick ratio of 1.39. The company has a market cap of $5,893.18, a price-to-earnings ratio of 22.41, a P/E/G ratio of 1.16 and a beta of 1.59. LPL Financial Holdings Inc has a 52-week low of $37.38 and a 52-week high of $66.64.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 23rd. Investors of record on Friday, March 9th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend is Thursday, March 8th. LPL Financial’s dividend payout ratio (DPR) is 38.76%.
LPL Financial declared that its board has approved a share buyback plan on Tuesday, December 5th that authorizes the company to repurchase $359.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Xact Kapitalforvaltning AB purchased a new position in shares of LPL Financial in the 4th quarter valued at $416,000. Castleark Management LLC purchased a new position in LPL Financial during the 4th quarter worth $15,123,000. Vident Investment Advisory LLC grew its position in LPL Financial by 8.7% during the 4th quarter. Vident Investment Advisory LLC now owns 62,531 shares of the financial services provider’s stock worth $3,573,000 after purchasing an additional 5,010 shares during the last quarter. Philadelphia Financial Management of San Francisco LLC purchased a new position in LPL Financial during the 4th quarter worth $15,705,000. Finally, Ladenburg Thalmann Financial Services Inc. grew its position in LPL Financial by 140.7% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,186 shares of the financial services provider’s stock worth $125,000 after purchasing an additional 1,278 shares during the last quarter. 92.22% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have commented on the stock. BidaskClub raised shares of LPL Financial from a “hold” rating to a “buy” rating in a research report on Monday, February 5th. Zacks Investment Research raised shares of LPL Financial from a “hold” rating to a “strong-buy” rating and set a $68.00 price objective on the stock in a research report on Friday, January 5th. Credit Suisse Group assumed coverage on shares of LPL Financial in a research report on Thursday, November 30th. They issued an “outperform” rating and a $68.00 price objective on the stock. Morgan Stanley raised shares of LPL Financial from an “underweight” rating to an “equal weight” rating and set a $42.00 price objective on the stock in a research report on Wednesday, January 3rd. Finally, Nomura increased their price objective on shares of LPL Financial from $80.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $68.36.
LPL Financial Company Profile
LPL Financial Holdings Inc is a broker-dealer, a custodian for registered investment advisors and an independent consultant to retirement plans. The Company provides a platform of brokerage and investment advisory services to independent financial advisors, including financial advisors at financial institutions across the country.
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