LPL Financial Holdings Inc. (NASDAQ:LPLA) CEO Sells $1,574,288.87 in Stock

LPL Financial Holdings Inc. (NASDAQ:LPLA) CEO Dan H. Arnold sold 5,677 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $277.31, for a total transaction of $1,574,288.87. Following the completion of the transaction, the chief executive officer now owns 142,608 shares in the company, valued at $39,546,624.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

LPL Financial Stock Performance

NASDAQ:LPLA traded up $1.33 during mid-day trading on Tuesday, reaching $282.49. The company’s stock had a trading volume of 220,350 shares, compared to its average volume of 521,514. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 1.70. The stock has a market cap of $21.10 billion, a P/E ratio of 21.24, a PEG ratio of 1.11 and a beta of 0.89. The firm’s fifty day moving average price is $271.56 and its two-hundred day moving average price is $254.87. LPL Financial Holdings Inc. has a 12-month low of $200.18 and a 12-month high of $287.80.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $4.21 EPS for the quarter, topping the consensus estimate of $3.77 by $0.44. The company had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.68 billion. LPL Financial had a return on equity of 55.22% and a net margin of 9.71%. On average, equities analysts forecast that LPL Financial Holdings Inc. will post 15.85 EPS for the current fiscal year.

LPL Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date was Monday, May 20th. LPL Financial’s payout ratio is 9.06%.

Wall Street Analyst Weigh In

LPLA has been the topic of several recent research reports. JPMorgan Chase & Co. increased their target price on shares of LPL Financial from $254.00 to $260.00 and gave the company a “neutral” rating in a report on Tuesday, April 2nd. Raymond James initiated coverage on LPL Financial in a report on Thursday, April 4th. They issued an “underperform” rating on the stock. TD Cowen increased their target price on LPL Financial from $269.00 to $271.00 and gave the company a “hold” rating in a report on Wednesday, May 1st. Barclays lifted their price target on LPL Financial from $302.00 to $312.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Finally, JMP Securities restated a “market outperform” rating and issued a $305.00 target price on shares of LPL Financial in a report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, LPL Financial has an average rating of “Hold” and an average price target of $276.20.

Hedge Funds Weigh In On LPL Financial

Institutional investors have recently bought and sold shares of the stock. Schwab Charitable Fund purchased a new position in shares of LPL Financial during the 1st quarter valued at $264,000. DekaBank Deutsche Girozentrale lifted its stake in LPL Financial by 5.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 8,627 shares of the financial services provider’s stock worth $2,238,000 after purchasing an additional 443 shares in the last quarter. Boston Partners increased its holdings in shares of LPL Financial by 71.9% in the first quarter. Boston Partners now owns 1,765,230 shares of the financial services provider’s stock worth $466,434,000 after purchasing an additional 738,509 shares during the last quarter. Cetera Advisors LLC bought a new stake in shares of LPL Financial in the first quarter worth about $833,000. Finally, Cetera Investment Advisers lifted its position in shares of LPL Financial by 260.7% in the first quarter. Cetera Investment Advisers now owns 13,634 shares of the financial services provider’s stock worth $3,602,000 after buying an additional 9,854 shares in the last quarter. 95.66% of the stock is owned by institutional investors.

About LPL Financial

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.