MGO One Seven LLC Acquires Shares of 3,814 LPL Financial Holdings Inc. $LPLA

MGO One Seven LLC acquired a new stake in LPL Financial Holdings Inc. (NASDAQ:LPLAFree Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 3,814 shares of the financial services provider’s stock, valued at approximately $1,430,000.

A number of other institutional investors have also recently bought and sold shares of the business. Summit Securities Group LLC bought a new position in shares of LPL Financial during the 1st quarter worth $26,000. Millstone Evans Group LLC grew its stake 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 acquiring an additional 48 shares during the period. Maseco LLP bought a new position in shares of LPL Financial during the 2nd quarter worth $34,000. Private Trust Co. NA grew its stake 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 acquiring an additional 68 shares during the period. Finally, TCTC Holdings LLC grew its stake in shares of LPL Financial by 116.7% during the 1st quarter. TCTC Holdings LLC now owns 104 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 56 shares during the period. Institutional investors own 95.66% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on LPLA. Raymond James Financial upgraded LPL Financial from an “underperform” rating to a “market perform” rating in a research note on Thursday, October 9th. Keefe, Bruyette & Woods increased their price target on LPL Financial from $425.00 to $435.00 and gave the stock an “outperform” rating in a research note on Monday, August 4th. The Goldman Sachs Group began coverage on LPL Financial in a research note on Friday, September 12th. They set a “buy” rating and a $405.00 price target for the company. Rothschild & Co Redburn downgraded 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. Finally, TD Cowen cut LPL Financial from a “strong-buy” rating to a “hold” rating and dropped their price objective for the stock from $406.00 to $403.00 in a report on Wednesday, July 9th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $395.85.

Read Our Latest Stock Report on LPL Financial

LPL Financial Stock Performance

Shares of LPLA opened at $329.25 on Thursday. The stock’s 50-day simple moving average is $344.13 and its 200 day simple moving average is $352.88. The stock has a market capitalization of $26.34 billion, a price-to-earnings ratio of 22.52, a price-to-earnings-growth ratio of 0.75 and a beta of 0.61. The company has a debt-to-equity ratio of 1.41, a quick ratio of 3.22 and a current ratio of 3.22. LPL Financial Holdings Inc. has a 52-week low of $252.24 and a 52-week high of $403.58.

LPL Financial (NASDAQ:LPLAGet Free Report) last released its quarterly 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 return on equity of 39.80% and a net margin of 7.91%.The firm had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same quarter last year, the firm posted $3.88 EPS. The company’s revenue was up 30.8% compared to the same quarter last year. Research analysts forecast that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were issued 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 presently 8.21%.

Insider Activity

In other LPL Financial news, Director Aneri Jambusaria sold 80 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $361.25, for a total value of $28,900.00. Following the sale, the director owned 5,582 shares of the company’s stock, valued at $2,016,497.50. This trade represents a 1.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Greg Gates sold 750 shares of the firm’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $314.42, for a total value of $235,815.00. Following the completion of the sale, the director directly owned 16,870 shares in the company, valued at approximately $5,304,265.40. The trade was a 4.26% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,830 shares of company stock worth $1,333,105. Insiders own 1.30% of the company’s stock.

LPL Financial Profile

(Free Report)

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.

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Institutional Ownership by Quarter for LPL Financial (NASDAQ:LPLA)

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