LPL Financial Holdings Inc. $LPLA Shares Acquired by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC grew its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 29.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,418 shares of the financial services provider’s stock after acquiring an additional 10,001 shares during the period. Janney Montgomery Scott LLC’s holdings in LPL Financial were worth $16,280,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Summit Securities Group LLC acquired a new position in shares of LPL Financial in the first quarter worth $26,000. Millstone Evans Group LLC lifted its position in shares of LPL Financial by 123.1% during the 1st quarter. Millstone Evans Group LLC now owns 87 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 48 shares during the last quarter. Maseco LLP purchased a new stake in shares of LPL Financial during the 2nd quarter worth $34,000. Private Trust Co. NA lifted its position in shares of LPL Financial by 234.5% during the 1st quarter. Private Trust Co. NA now owns 97 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 68 shares during the last quarter. Finally, City Holding Co. purchased a new stake in shares of LPL Financial during the 1st quarter worth $34,000. Institutional investors and hedge funds own 95.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of LPL Financial from $425.00 to $435.00 and gave the stock an “outperform” rating in a research report on Monday, August 4th. Redburn Atlantic raised shares of LPL Financial from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $420.00 to $460.00 in a research report on Monday, June 9th. The Goldman Sachs Group assumed coverage on shares of LPL Financial in a research report on Friday, September 12th. They set a “buy” rating and a $405.00 price objective for the company. Citigroup cut shares of LPL Financial from a “neutral” rating to a “sell” rating and set a $80.00 price objective for the company. in a research report on Wednesday, July 9th. Finally, Barclays reduced their price target on shares of LPL Financial from $463.00 to $460.00 and set an “overweight” rating for the company in a research report on Tuesday, September 2nd. Ten investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $389.38.

Insider Transactions at LPL Financial

In other news, Director Greg Gates sold 1,500 shares of the company’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $338.21, for a total value of $507,315.00. Following the completion of the sale, the director directly owned 17,620 shares of the company’s stock, valued at approximately $5,959,260.20. This represents a 7.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Aneri Jambusaria sold 80 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $361.25, for a total transaction of $28,900.00. Following the completion of the sale, the director directly owned 5,582 shares of the company’s stock, valued at $2,016,497.50. The trade was a 1.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,080 shares of company stock valued at $1,097,290 over the last ninety days. Corporate insiders own 1.30% of the company’s stock.

LPL Financial Stock Down 1.3%

LPL Financial stock opened at $312.89 on Friday. The stock has a 50-day simple moving average of $355.48 and a 200-day simple moving average of $353.80. LPL Financial Holdings Inc. has a fifty-two week low of $229.21 and a fifty-two week high of $403.58. The company has a debt-to-equity ratio of 1.41, a quick ratio of 3.22 and a current ratio of 3.22. The company has a market capitalization of $25.03 billion, a P/E ratio of 21.40, a PEG ratio of 0.74 and a beta of 0.61.

LPL Financial (NASDAQ:LPLA) last announced its earnings results on Thursday, July 31st. The financial services provider reported $4.51 EPS for the quarter, beating analysts’ consensus estimates of $4.21 by $0.30. LPL Financial had a net margin of 7.91% and a return on equity of 39.80%. The business had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3.77 billion. During the same period in the prior year, the company earned $3.88 earnings per share. The business’s revenue was up 30.8% compared to the same quarter last year. Equities research analysts expect that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Friday, August 15th. LPL Financial’s dividend payout ratio is presently 8.21%.

LPL Financial Company Profile

LPL Financial Holdings Inc, together with its subsidiaries, provides an integrated platform of brokerage and investment advisory services to independent financial advisors and financial advisors at enterprises in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, fixed income, alternative investments, retirement and 529 education savings plans, and insurance.