Envestnet Portfolio Solutions Inc. Has $3.04 Million Stock Holdings in LPL Financial Holdings Inc. $LPLA

Envestnet Portfolio Solutions Inc. cut its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 1.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 8,104 shares of the financial services provider’s stock after selling 111 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in LPL Financial were worth $3,039,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of LPLA. GAMMA Investing LLC grew its position in shares of LPL Financial by 33.3% in the 1st quarter. GAMMA Investing LLC now owns 476 shares of the financial services provider’s stock valued at $156,000 after purchasing an additional 119 shares during the period. Fifth Third Bancorp grew its position in shares of LPL Financial by 1,395.5% in the 1st quarter. Fifth Third Bancorp now owns 658 shares of the financial services provider’s stock valued at $215,000 after purchasing an additional 614 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of LPL Financial by 7.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 8,017 shares of the financial services provider’s stock valued at $2,623,000 after purchasing an additional 552 shares during the period. Brighton Jones LLC acquired a new position in shares of LPL Financial in the 1st quarter valued at approximately $396,000. Finally, Sowell Financial Services LLC bought a new stake in LPL Financial in the 1st quarter valued at approximately $957,000. 95.66% of the stock is currently owned by institutional investors and hedge funds.

LPL Financial Price Performance

NASDAQ:LPLA opened at $329.25 on Thursday. LPL Financial Holdings Inc. has a 1-year low of $252.24 and a 1-year high of $403.58. The company has a current ratio of 3.22, a quick ratio of 3.22 and a debt-to-equity ratio of 1.41. The firm has a fifty day simple moving average of $344.13 and a 200 day simple moving average of $352.88. The stock has a market capitalization of $26.34 billion, a PE ratio of 22.52, a P/E/G ratio of 0.75 and a beta of 0.61.

LPL Financial (NASDAQ:LPLA) last released its earnings results on Thursday, July 31st. The financial services provider reported $4.51 earnings per share for the quarter, beating the consensus estimate 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 last year, the business earned $3.88 earnings per share. The firm’s revenue was up 30.8% on a year-over-year basis. On average, research analysts expect that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were paid a $0.30 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.20 annualized dividend and a dividend yield of 0.4%. LPL Financial’s dividend payout ratio (DPR) is currently 8.21%.

Insider Buying and Selling at LPL Financial

In other LPL Financial news, Director Greg Gates sold 1,500 shares of LPL Financial stock in a transaction on Friday, September 5th. The shares were sold at an average price of $338.21, for a total transaction of $507,315.00. Following the completion of the transaction, the director directly owned 17,620 shares of the company’s stock, valued at $5,959,260.20. The trade was a 7.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Aneri Jambusaria sold 80 shares of LPL Financial stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $361.25, for a total transaction of $28,900.00. Following the transaction, the director directly owned 5,582 shares of the company’s stock, valued at approximately $2,016,497.50. This trade represents a 1.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,830 shares of company stock valued at $1,333,105 over the last three months. 1.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

LPLA has been the subject of several research reports. Rothschild & Co Redburn cut shares of LPL Financial from a “buy” rating to a “neutral” rating and set a $390.00 price target for the company. in a research note on Friday, September 19th. Morgan Stanley decreased their price target on shares of LPL Financial from $490.00 to $462.00 and set an “overweight” rating for the company in a research note on Wednesday, October 1st. Rothschild Redb cut shares of LPL Financial from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 19th. Citigroup reaffirmed an “outperform” rating on shares of LPL Financial in a research note on Thursday, October 9th. Finally, JMP Securities raised their price target on shares of LPL Financial from $440.00 to $455.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $395.85.

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.