William P. Jr. Morrissey Sold 32,150 Shares of LPL Financial Stake Inc (LPLA) Shares

William P. Jr. Morrissey Sold 32,150 Shares of LPL Financial Stake Inc (LPLA) Shares

LPL Financial Holdings Inc (NASDAQ:LPLA) insider William P. Jr. Morrissey sold 32,150 shares of LPL Financial Holdings stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $39.34, for a total transaction of $1,264,781.00. Following the sale, the insider now owns 49,691 shares in the company, valued at approximately $1,954,843.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

LPL Financial Holdings Inc (LPLA) traded up 0.56% during mid-day trading on Monday, reaching $39.56. 509,919 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $40.56 and its 200 day moving average price is $39.26. LPL Financial Holdings Inc has a 12 month low of $20.51 and a 12 month high of $43.79. The stock has a market capitalization of $3.58 billion, a PE ratio of 18.93 and a beta of 1.85.

LPL Financial Holdings (NASDAQ:LPLA) last released its quarterly earnings data on Thursday, April 27th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.30. LPL Financial Holdings had a return on equity of 25.39% and a net margin of 4.74%. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period in the prior year, the company posted $0.56 earnings per share. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. Equities research analysts predict that LPL Financial Holdings Inc will post $2.47 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 25th. Stockholders of record on Monday, May 15th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, May 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.53%. LPL Financial Holdings’s dividend payout ratio (DPR) is presently 46.95%.

Several hedge funds have recently made changes to their positions in the stock. A.R.T. Advisors LLC acquired a new stake in shares of LPL Financial Holdings during the fourth quarter worth $2,285,000. BlueMar Capital Management LLC acquired a new stake in shares of LPL Financial Holdings during the fourth quarter worth $989,000. Steel Canyon Capital LLC acquired a new stake in shares of LPL Financial Holdings during the fourth quarter worth $1,370,000. Gideon Capital Advisors Inc. acquired a new stake in shares of LPL Financial Holdings during the fourth quarter worth $419,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of LPL Financial Holdings during the fourth quarter worth $242,000.

A number of analysts have recently issued reports on LPLA shares. SunTrust Banks, Inc. lifted their price objective on shares of LPL Financial Holdings from $39.00 to $42.00 and gave the company a “hold” rating in a research note on Friday, February 10th. Goldman Sachs Group Inc upgraded shares of LPL Financial Holdings from a “neutral” rating to a “conviction-buy” rating and lifted their price objective for the company from $44.00 to $47.00 in a research note on Monday, March 20th. Keefe, Bruyette & Woods set a $44.00 price objective on shares of LPL Financial Holdings and gave the company a “hold” rating in a research note on Thursday, April 6th. Nomura upgraded shares of LPL Financial Holdings from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $46.00 to $51.00 in a research note on Friday, April 28th. Finally, Citigroup Inc lifted their price target on shares of LPL Financial Holdings from $47.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, May 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. LPL Financial Holdings has a consensus rating of “Buy” and an average target price of $41.80.

LPL Financial Holdings Company Profile

LPL Financial Holdings Inc is a broker-dealer, a custodian for registered investment advisors and an independent consultant to retirement plans. The Company provides a platform of brokerage and investment advisory services to independent financial advisors, including financial advisors at financial institutions across the country.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:LPLA”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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