Traub Capital Management LLC Acquires New Shares in LPL Financial Holdings Inc. $LPLA

Traub Capital Management LLC acquired a new position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 501 shares of the financial services provider’s stock, valued at approximately $188,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. AGF Management Ltd. increased its stake in shares of LPL Financial by 74.9% in the second quarter. AGF Management Ltd. now owns 765,024 shares of the financial services provider’s stock valued at $286,861,000 after purchasing an additional 327,580 shares during the period. Bryn Mawr Trust Advisors LLC acquired a new position in shares of LPL Financial during the second quarter worth approximately $316,000. JPMorgan Chase & Co. grew its holdings in LPL Financial by 8.8% in the 1st quarter. JPMorgan Chase & Co. now owns 1,304,780 shares of the financial services provider’s stock worth $426,846,000 after buying an additional 105,665 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in LPL Financial by 5.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 354,001 shares of the financial services provider’s stock valued at $115,808,000 after acquiring an additional 18,252 shares during the period. Finally, FORA Capital LLC bought a new stake in LPL Financial during the 1st quarter valued at $1,728,000. 95.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

LPLA has been the subject of several recent analyst reports. JMP Securities set a $475.00 price target on LPL Financial in a research note on Friday, October 31st. Keefe, Bruyette & Woods upped their price objective on shares of LPL Financial from $425.00 to $435.00 and gave the stock an “outperform” rating in a report on Monday, August 4th. JPMorgan Chase & Co. decreased their target price on shares of LPL Financial from $463.00 to $438.00 and set an “overweight” rating for the company in a research report on Monday, October 20th. TD Cowen raised their target price on shares of LPL Financial from $356.00 to $410.00 and gave the company a “hold” rating in a research note on Monday, November 3rd. Finally, UBS Group set a $455.00 price target on shares of LPL Financial in a research note on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $429.00.

Insider Activity

In other LPL Financial news, 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 value of $507,315.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Aneri Jambusaria sold 80 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $361.25, for a total transaction of $28,900.00. Following the sale, the director owned 5,582 shares in the company, valued at $2,016,497.50. This represents a 1.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 3,830 shares of company stock valued at $1,336,675. Corporate insiders own 1.30% of the company’s stock.

LPL Financial Stock Performance

LPLA opened at $356.37 on Thursday. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 1.49. The firm has a market cap of $28.52 billion, a PE ratio of 32.81, a P/E/G ratio of 0.78 and a beta of 0.63. The business has a fifty day simple moving average of $343.74 and a 200-day simple moving average of $361.54. LPL Financial Holdings Inc. has a fifty-two week low of $262.83 and a fifty-two week high of $403.58.

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

LPL Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders 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 dividend on an annualized basis and a yield of 0.3%. LPL Financial’s dividend payout ratio is currently 11.05%.

LPL Financial Company 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.