Sanctuary Advisors LLC Makes New Investment in LPL Financial Holdings Inc. $LPLA

Sanctuary Advisors LLC purchased a new stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 9,902 shares of the financial services provider’s stock, valued at approximately $2,789,000.

Other institutional investors also recently modified their holdings of the company. Goldstein Advisors LLC lifted its stake in shares of LPL Financial by 4.8% in the fourth quarter. Goldstein Advisors LLC now owns 634 shares of the financial services provider’s stock worth $226,000 after buying an additional 29 shares during the last quarter. Coastal Bridge Advisors LLC grew its stake in LPL Financial by 0.6% in the 4th quarter. Coastal Bridge Advisors LLC now owns 5,475 shares of the financial services provider’s stock valued at $1,956,000 after buying an additional 31 shares during the last quarter. Root Financial Partners LLC raised its holdings in LPL Financial by 1.4% in the 4th quarter. Root Financial Partners LLC now owns 2,318 shares of the financial services provider’s stock worth $828,000 after acquiring an additional 33 shares during the period. Lifestyle Asset Management Inc. raised its holdings in LPL Financial by 2.9% in the 4th quarter. Lifestyle Asset Management Inc. now owns 1,191 shares of the financial services provider’s stock worth $425,000 after acquiring an additional 34 shares during the period. Finally, Bank of Nova Scotia lifted its position in LPL Financial by 0.7% during the 1st quarter. Bank of Nova Scotia now owns 5,705 shares of the financial services provider’s stock worth $1,716,000 after acquiring an additional 37 shares during the last quarter. Institutional investors own 95.66% of the company’s stock.

Wall Street Analysts Forecast Growth

LPLA has been the subject of a number of recent analyst reports. TD Cowen upped their price target on shares of LPL Financial from $330.00 to $372.00 and gave the company a “hold” rating in a report on Friday, July 31st. Wolfe Research reiterated an “outperform” rating and issued a $454.00 price objective on shares of LPL Financial in a research note on Wednesday, August 12th. Morgan Stanley boosted their price objective on LPL Financial from $374.00 to $387.00 and gave the stock an “overweight” rating in a research report on Friday, July 10th. BMO Capital Markets increased their target price on LPL Financial from $300.00 to $390.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Finally, UBS Group lowered their target price on LPL Financial from $395.00 to $391.00 and set a “buy” rating on the stock in a report on Wednesday, July 8th. Twelve research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $406.69.

LPL Financial Price Performance

NASDAQ:LPLA opened at $361.88 on Wednesday. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.39 and a quick ratio of 2.39. LPL Financial Holdings Inc. has a one year low of $260.15 and a one year high of $400.16. The company has a fifty day moving average price of $329.13 and a 200 day moving average price of $315.09. The stock has a market cap of $28.49 billion, a P/E ratio of 28.86, a PEG ratio of 0.61 and a beta of 0.48.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings results on Thursday, July 30th. The financial services provider reported $5.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.39 by $0.45. LPL Financial had a net margin of 5.13% and a return on equity of 32.20%. The company had revenue of $5.19 billion for the quarter, compared to analyst estimates of $5.04 billion. During the same period last year, the business posted $4.51 EPS. The business’s quarterly revenue was up 35.2% on a year-over-year basis. Analysts anticipate that LPL Financial Holdings Inc. will post 24.09 earnings per share for the current year.

LPL Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Friday, August 14th. LPL Financial’s dividend payout ratio (DPR) is presently 9.57%.

Insider Buying and Selling

In other LPL Financial news, Director Aneri Jambusaria sold 308 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $306.00, for a total value of $94,248.00. Following the completion of the transaction, the director owned 6,415 shares of the company’s stock, valued at $1,962,990. This represents a 4.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Greg Gates sold 4,119 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $355.38, for a total value of $1,463,810.22. Following the completion of the transaction, the director directly owned 23,602 shares of the company’s stock, valued at approximately $8,387,678.76. This trade represents a 14.86% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 5,427 shares of company stock valued at $1,910,778 over the last three months. 0.60% of the stock is owned by corporate insiders.

About LPL Financial

LPL Financial (NASDAQ: LPLA) is a U.S.-focused financial services firm that provides brokerage, custodial and advisory platforms to independent financial advisors, registered investment advisers and institutions. Operating primarily as an independent broker-dealer and custodian, the company supports a network of advisors with the operational, compliance and clearing infrastructure needed to manage client accounts and deliver investment advice outside of traditional wirehouse models.

The firm’s product and service offerings include trade execution and clearing, custody services, retirement plan services, model portfolio and advisory platforms, wealth management technology, investment research and product access across equities, fixed income, mutual funds, exchange-traded funds and insurance and annuity solutions.