2,597 Shares in LPL Financial Holdings Inc. $LPLA Acquired by Provenance Wealth Advisors LLC

Provenance Wealth Advisors LLC bought a new stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) in the third quarter, Holdings Channel.com reports. The institutional investor bought 2,597 shares of the financial services provider’s stock, valued at approximately $794,000.

Several other institutional investors also recently bought and sold shares of the company. One Day In July LLC purchased a new stake in shares of LPL Financial during the 3rd quarter valued at $215,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of LPL Financial in the 3rd quarter worth $2,093,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in LPL Financial during the 3rd quarter worth $3,641,000. ProShare Advisors LLC grew its stake in LPL Financial by 28.0% during the 3rd quarter. ProShare Advisors LLC now owns 2,703 shares of the financial services provider’s stock worth $827,000 after buying an additional 591 shares during the last quarter. Finally, Vise Technologies Inc. grew its stake in LPL Financial by 43.7% during the 3rd quarter. Vise Technologies Inc. now owns 5,212 shares of the financial services provider’s stock worth $1,594,000 after buying an additional 1,586 shares during the last quarter. 95.66% of the stock is currently owned by institutional investors and hedge funds.

LPL Financial Price Performance

NASDAQ LPLA opened at $311.48 on Thursday. The company has a market cap of $24.25 billion, a price-to-earnings ratio of 17.87, a PEG ratio of 0.57 and a beta of 0.55. The company has a debt-to-equity ratio of 1.34, a current ratio of 2.62 and a quick ratio of 2.62. The stock’s fifty day moving average price is $326.66 and its 200 day moving average price is $322.00. LPL Financial Holdings Inc. has a 1 year low of $260.15 and a 1 year high of $400.16.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings results on Tuesday, October 27th. The financial services provider reported $5.97 EPS for the quarter, topping analysts’ consensus estimates of $5.69 by $0.28. The company had revenue of $5.34 billion during the quarter, compared to analysts’ expectations of $5.35 billion. LPL Financial had a return on equity of 32.05% and a net margin of 6.83%. The firm’s revenue was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.20 EPS. As a group, equities research analysts forecast that LPL Financial Holdings Inc. will post 23.45 earnings per share for the current year.

LPL Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 30th. Stockholders of record on Thursday, November 12th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Thursday, November 12th. LPL Financial’s dividend payout ratio (DPR) is presently 6.88%.

Insider Transactions at LPL Financial

In related news, Director Greg Gates sold 4,119 shares of LPL Financial stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $355.38, for a total transaction of $1,463,810.22. Following the completion of the sale, the director owned 23,602 shares of the company’s stock, valued at $8,387,678.76. The trade was a 14.86% 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, insider Katharine Reeping sold 440 shares of the company’s stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $347.88, for a total value of $153,067.20. Following the completion of the sale, the insider owned 1,774 shares in the company, valued at approximately $617,139.12. This represents a 19.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 4,867 shares of company stock worth $1,726,944 over the last three months. 0.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

LPLA has been the subject of a number of research analyst reports. Bank of America decreased their price target on LPL Financial from $557.00 to $554.00 and set a “buy” rating for the company in a research note on Monday, October 5th. UBS Group lowered their price target on LPL Financial from $390.00 to $369.00 and set a “buy” rating for the company in a report on Thursday, October 29th. Truist Financial dropped their price target on LPL Financial from $354.00 to $335.00 and set a “hold” rating on the stock in a research note on Wednesday, October 28th. Capital One Financial set a $370.00 price objective on shares of LPL Financial in a report on Tuesday, October 6th. Finally, Barclays decreased their price objective on shares of LPL Financial from $409.00 to $372.00 and set an “overweight” rating for the company in a research report on Wednesday, October 28th. Fourteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $400.60.

LPL Financial Profile

LPL Financial Holdings Inc is a financial services company that supports independent financial advisors and institutions across the United States. Through its primary subsidiary, LPL Financial LLC, the company provides brokerage, investment advisory, and custodial services, enabling advisors to serve individual investors, families, retirement plans, and other clients.

LPL’s platform includes access to brokerage and advisory products, securities clearing and custody, trading and operations support, technology, compliance services, investment research, and practice-management resources.