LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Sold by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC decreased its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 9.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,523 shares of the financial services provider’s stock after selling 150 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in LPL Financial were worth $425,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. DGS Capital Management LLC raised its holdings in 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 purchasing an additional 44 shares during the period. Oliver Luxxe Assets LLC raised its holdings in 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 purchasing an additional 48 shares during the period. Tortoise Investment Management LLC raised its holdings in LPL Financial by 74.7% in the 2nd quarter. Tortoise Investment Management LLC now owns 131 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 56 shares during the period. King Luther Capital Management Corp raised its holdings in LPL Financial by 1.0% in the 2nd quarter. King Luther Capital Management Corp now owns 5,860 shares of the financial services provider’s stock worth $1,637,000 after purchasing an additional 56 shares during the period. Finally, Gulf International Bank UK Ltd raised its holdings in 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 purchasing an additional 60 shares during the period. Institutional investors and hedge funds own 95.66% of the company’s stock.

Wall Street Analysts Forecast Growth

LPLA has been the subject of a number of analyst reports. Wells Fargo & Company assumed coverage on LPL Financial in a report on Thursday, September 12th. They issued an “equal weight” rating and a $235.00 price target for the company. TD Cowen boosted their price objective on LPL Financial from $243.00 to $255.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. boosted their price objective on LPL Financial from $261.00 to $268.00 and gave the stock a “neutral” rating in a research note on Thursday, July 11th. Barclays cut their price objective on LPL Financial from $313.00 to $273.00 and set an “overweight” rating for the company in a research note on Friday, July 26th. Finally, Bank of America upgraded LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 price objective for the company in a research note on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $275.27.

LPL Financial Price Performance

LPLA stock opened at $222.00 on Wednesday. The company has a debt-to-equity ratio of 1.77, a current ratio of 2.16 and a quick ratio of 2.16. The business has a 50 day simple moving average of $215.04 and a 200-day simple moving average of $251.06. The firm has a market capitalization of $16.59 billion, a PE ratio of 16.77, a price-to-earnings-growth ratio of 1.20 and a beta of 0.88. LPL Financial Holdings Inc. has a 1 year low of $187.19 and a 1 year high of $289.88.

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

LPL Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were given a $0.30 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.20 annualized dividend and a yield of 0.54%. LPL Financial’s payout ratio is 9.06%.

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.