Dan H. Arnold Sells 3,742 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) Stock

LPL Financial Holdings Inc. (NASDAQ:LPLA) CEO Dan H. Arnold sold 3,742 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $48.54, for a total transaction of $181,636.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) opened at $52.94 on Monday. LPL Financial Holdings Inc. has a 1-year low of $34.01 and a 1-year high of $53.92. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 2.54. The firm has a market cap of $4,774.66, a P/E ratio of 21.26, a price-to-earnings-growth ratio of 1.77 and a beta of 1.88.

LPL Financial (NASDAQ:LPLA) last posted its earnings results on Thursday, October 26th. The financial services provider reported $0.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.03. LPL Financial had a net margin of 5.19% and a return on equity of 26.03%. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the firm posted $0.58 EPS. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. equities analysts predict that LPL Financial Holdings Inc. will post 2.31 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 27th. Stockholders of record on Thursday, November 9th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date was Wednesday, November 8th. LPL Financial’s dividend payout ratio is currently 42.55%.

Large investors have recently bought and sold shares of the company. Meridian Wealth Management LLC bought a new stake in shares of LPL Financial in the 3rd quarter valued at $316,000. Prudential Financial Inc. boosted its stake in shares of LPL Financial by 15.1% in the 2nd quarter. Prudential Financial Inc. now owns 441,404 shares of the financial services provider’s stock valued at $18,742,000 after purchasing an additional 57,830 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of LPL Financial by 166.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,393 shares of the financial services provider’s stock valued at $1,036,000 after purchasing an additional 15,229 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of LPL Financial in the 2nd quarter valued at $4,034,000. Finally, Ameriprise Financial Inc. bought a new stake in shares of LPL Financial in the 2nd quarter valued at $1,273,000. 90.35% of the stock is currently owned by institutional investors.

LPLA has been the subject of several analyst reports. Zacks Investment Research cut shares of LPL Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, November 8th. Citigroup boosted their target price on shares of LPL Financial from $60.50 to $65.00 and gave the company a “buy” rating in a research report on Monday, October 30th. ValuEngine cut shares of LPL Financial from a “buy” rating to a “hold” rating in a research report on Friday, October 6th. J P Morgan Chase & Co upped their price objective on shares of LPL Financial from $52.00 to $53.00 and gave the stock a “neutral” rating in a research report on Monday, October 30th. Finally, Nomura upped their price objective on shares of LPL Financial from $64.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, November 9th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. LPL Financial presently has an average rating of “Hold” and a consensus target price of $54.55.

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About LPL Financial

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.

Insider Buying and Selling by Quarter for LPL Financial (NASDAQ:LPLA)

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