SG Americas Securities LLC Increases Stock Holdings in LPL Financial Holdings Inc. $LPLA

SG Americas Securities LLC raised its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 616.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 50,083 shares of the financial services provider’s stock after buying an additional 43,096 shares during the quarter. SG Americas Securities LLC owned about 0.06% of LPL Financial worth $18,780,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Cullen Frost Bankers Inc. raised its position in shares of LPL Financial by 9.9% in the 2nd 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 raised its holdings in shares of LPL Financial by 14.5% in the first quarter. Compass Financial Services Inc now owns 229 shares of the financial services provider’s stock worth $75,000 after buying an additional 29 shares during the last quarter. Magnolia Private Wealth LLC lifted its stake in shares of LPL Financial by 2.0% during the second 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 period. Smithfield Trust Co grew its holdings in shares of LPL Financial by 29.4% during the second quarter. Smithfield Trust Co now owns 154 shares of the financial services provider’s stock valued at $58,000 after buying an additional 35 shares during the last quarter. Finally, 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 valued at $993,000 after purchasing an additional 37 shares during the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Insider Buying and Selling

In other news, Director Aneri Jambusaria sold 80 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $2,016,497.50. The trade was a 1.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Greg Gates sold 1,500 shares of the business’s stock in a transaction on Friday, September 5th. The stock was sold at an average price of $338.21, for a total value of $507,315.00. Following the transaction, the director directly owned 17,620 shares in the company, valued at $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 sold a total of 3,830 shares of company stock worth $1,336,675 over the last three months. Corporate insiders own 1.30% of the company’s stock.

LPL Financial Trading Down 0.5%

Shares of LPLA stock opened at $370.59 on Friday. The company has a debt-to-equity ratio of 1.49, a current ratio of 2.60 and a quick ratio of 2.60. The company has a market cap of $29.66 billion, a price-to-earnings ratio of 34.12, a PEG ratio of 0.82 and a beta of 0.63. LPL Financial Holdings Inc. has a 1-year low of $262.83 and a 1-year high of $403.58. The stock has a 50 day simple moving average of $342.72 and a 200-day simple moving average of $360.87.

LPL Financial (NASDAQ:LPLA) last released its earnings results on Thursday, October 30th. The financial services provider reported $5.20 EPS for the quarter, topping analysts’ consensus estimates of $4.49 by $0.71. LPL Financial had a net margin of 5.35% and a return on equity of 36.80%. The business had revenue of $4.55 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter in the previous year, the company earned $4.16 earnings per share. The company’s quarterly revenue was up 46.4% on a year-over-year basis. On average, equities research analysts expect that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Thursday, November 13th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.3%. LPL Financial’s dividend payout ratio is presently 11.05%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Citigroup reaffirmed an “outperform” rating on shares of LPL Financial in a report on Friday, October 31st. Morgan Stanley dropped their price objective on shares of LPL Financial from $490.00 to $462.00 and set an “overweight” rating on the stock in a report on Wednesday, October 1st. JMP Securities set a $475.00 price objective on shares of LPL Financial in a research note on Friday, October 31st. Rothschild & Co Redburn downgraded shares of LPL Financial from a “buy” rating to a “neutral” rating and set a $390.00 target price for the company. in a research report on Friday, September 19th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $421.00 price target on shares of LPL Financial in a report on Friday, October 31st. 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. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $429.00.

LPL Financial 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.