EverSource Wealth Advisors LLC Sells 160 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

EverSource Wealth Advisors LLC reduced its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 8.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,673 shares of the financial services provider’s stock after selling 160 shares during the period. EverSource Wealth Advisors LLC’s holdings in LPL Financial were worth $450,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. DGS Capital Management LLC raised its position in shares of LPL Financial by 2.8% in the 1st quarter. DGS Capital Management LLC now owns 1,625 shares of the financial services provider’s stock worth $429,000 after acquiring an additional 44 shares in the last quarter. Oliver Luxxe Assets LLC raised its position in shares of LPL Financial by 0.6% in the 4th quarter. Oliver Luxxe Assets LLC now owns 8,152 shares of the financial services provider’s stock worth $1,856,000 after acquiring an additional 48 shares in the last quarter. CWM LLC raised its position in shares of LPL Financial by 6.0% in the 4th quarter. CWM LLC now owns 985 shares of the financial services provider’s stock worth $224,000 after acquiring an additional 56 shares in the last quarter. Gulf International Bank UK Ltd raised its position in shares of LPL Financial by 0.9% in the 1st quarter. Gulf International Bank UK Ltd now owns 6,410 shares of the financial services provider’s stock worth $1,693,000 after acquiring an additional 60 shares in the last quarter. Finally, LVW Advisors LLC raised its position in shares of LPL Financial by 1.9% in the 1st quarter. LVW Advisors LLC now owns 3,245 shares of the financial services provider’s stock worth $857,000 after acquiring an additional 61 shares in the last quarter. 95.66% of the stock is owned by institutional investors.

LPL Financial Stock Performance

Shares of NASDAQ LPLA traded down $16.69 during midday trading on Friday, reaching $198.05. The company’s stock had a trading volume of 1,437,907 shares, compared to its average volume of 1,688,566. LPL Financial Holdings Inc. has a 12-month low of $197.92 and a 12-month high of $289.88. The company has a debt-to-equity ratio of 1.77, a current ratio of 2.16 and a quick ratio of 1.84. The firm has a 50 day moving average price of $262.43 and a 200-day moving average price of $261.02. The stock has a market capitalization of $14.81 billion, a P/E ratio of 14.96, a PEG ratio of 1.23 and a beta of 0.90.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $3.88 EPS for the quarter, beating the consensus estimate of $3.66 by $0.22. LPL Financial had a return on equity of 52.14% and a net margin of 8.91%. The business had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter in the prior year, the business earned $3.94 earnings per share. LPL Financial’s revenue for the quarter was up 18.8% on a year-over-year basis. As a group, equities analysts predict that LPL Financial Holdings Inc. will post 15.9 earnings per share for the current year.

LPL Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, August 9th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $1.20 annualized dividend and a yield of 0.61%. LPL Financial’s payout ratio is 9.06%.

Insider Buying and Selling at LPL Financial

In other LPL Financial news, CEO Dan H. Arnold sold 5,677 shares of the business’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $277.31, for a total transaction of $1,574,288.87. Following the sale, the chief executive officer now owns 142,608 shares of the company’s stock, valued at approximately $39,546,624.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on LPLA. UBS Group lifted their price objective on LPL Financial from $285.00 to $290.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 9th. Bank of America raised LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 target price for the company in a research report on Tuesday. Keefe, Bruyette & Woods decreased their target price on LPL Financial from $326.00 to $315.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. JPMorgan Chase & Co. boosted their target price on LPL Financial from $261.00 to $268.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. Finally, Barclays decreased their target price on LPL Financial from $313.00 to $273.00 and set an “overweight” rating for the company in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, LPL Financial presently has a consensus rating of “Hold” and a consensus price target of $286.80.

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.