LPL Financial Holdings Inc. $LPLA Position Increased by Arkadios Wealth Advisors

Arkadios Wealth Advisors lifted its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 62.4% in the second quarter, Holdings Channel.com reports. The institutional investor owned 1,601 shares of the financial services provider’s stock after purchasing an additional 615 shares during the quarter. Arkadios Wealth Advisors’ holdings in LPL Financial were worth $601,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of LPLA. Cullen Frost Bankers Inc. grew its holdings in shares of LPL Financial by 9.9% during the second quarter. Cullen Frost Bankers Inc. now owns 301 shares of the financial services provider’s stock valued at $113,000 after purchasing an additional 27 shares during the last quarter. Compass Financial Services Inc grew its holdings in shares of LPL Financial by 14.5% during the first quarter. Compass Financial Services Inc now owns 229 shares of the financial services provider’s stock valued at $75,000 after purchasing an additional 29 shares during the last quarter. Magnolia Private Wealth LLC grew its stake in LPL Financial by 2.0% during the 2nd quarter. Magnolia Private Wealth LLC now owns 1,662 shares of the financial services provider’s stock worth $623,000 after buying an additional 33 shares during the last quarter. Moran Wealth Management LLC grew its stake in LPL Financial by 1.4% during the 2nd quarter. Moran Wealth Management LLC now owns 2,648 shares of the financial services provider’s stock worth $993,000 after buying an additional 37 shares during the last quarter. Finally, Stratos Wealth Partners LTD. grew its stake in LPL Financial by 1.8% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 2,120 shares of the financial services provider’s stock worth $795,000 after buying an additional 37 shares during the last quarter. Institutional investors own 95.66% of the company’s stock.

Insider Activity

In other news, Director Aneri Jambusaria sold 80 shares of the firm’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 transaction, the director owned 5,582 shares in the company, valued at approximately $2,016,497.50. This trade represents a 1.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Greg Gates sold 1,500 shares of the firm’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $338.21, for a total transaction of $507,315.00. Following the transaction, the director owned 17,620 shares of the company’s stock, valued at approximately $5,959,260.20. This trade represents a 7.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 2,330 shares of company stock valued at $772,030 in the last ninety days. Company insiders own 0.70% of the company’s stock.

LPL Financial Trading Up 0.4%

LPL Financial stock opened at $378.94 on Tuesday. The firm has a 50 day simple moving average of $340.14 and a 200-day simple moving average of $357.14. The company has a debt-to-equity ratio of 1.41, a current ratio of 3.22 and a quick ratio of 3.22. The stock has a market capitalization of $30.32 billion, a PE ratio of 34.89, a price-to-earnings-growth ratio of 0.88 and a beta of 0.63. LPL Financial Holdings Inc. has a 12-month low of $262.83 and a 12-month high of $403.58.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Thursday, October 30th. The financial services provider reported $5.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.49 by $0.71. The business had revenue of $4.55 billion during the quarter, compared to analysts’ expectations of $4.08 billion. LPL Financial had a net margin of 5.35% and a return on equity of 40.11%. The business’s revenue was up 46.4% on a year-over-year basis. During the same period last year, the firm posted $4.16 earnings per share. As a group, equities 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 will be paid on Monday, December 1st. Investors of record on Thursday, November 13th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $1.20 annualized dividend and a yield of 0.3%. LPL Financial’s dividend payout ratio (DPR) is currently 11.05%.

Analysts Set New Price Targets

LPLA has been the subject of several recent research reports. Morgan Stanley lowered 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 report on Wednesday, October 1st. JMP Securities set a $475.00 price target on shares of LPL Financial in a research report on Friday. Barclays upped their target price on shares of LPL Financial from $411.00 to $420.00 and gave the stock an “overweight” rating in a research report on Friday. Citizens Jmp upped their target price on shares of LPL Financial from $455.00 to $475.00 and gave the stock a “market outperform” rating in a research report on Friday. Finally, TD Cowen increased their price objective on LPL Financial from $356.00 to $410.00 and gave the stock a “hold” rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, LPL Financial currently has an average rating of “Moderate Buy” and an average target price of $429.00.

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.