Aureus Asset Management LLC Sells 360 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Posted by Defense World Staff on Jun 14th, 2023

Aureus Asset Management LLC decreased its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA – Get Rating) by 6.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 5,545 shares of the financial services provider’s stock after selling 360 shares during the quarter. Aureus Asset Management LLC’s holdings in LPL Financial were worth $1,199,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. U.S. Capital Wealth Advisors LLC bought a new position in shares of LPL Financial during the 4th quarter worth about $32,000. Steward Financial Group LLC bought a new stake in LPL Financial in the fourth quarter valued at about $37,000. Ronald Blue Trust Inc. increased its stake in LPL Financial by 958.8% in the fourth quarter. Ronald Blue Trust Inc. now owns 180 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 163 shares during the period. Fred Alger Management LLC bought a new stake in LPL Financial in the third quarter valued at about $44,000. Finally, Acadian Asset Management LLC bought a new stake in LPL Financial in the first quarter valued at about $58,000. Institutional investors own 94.89% of the company’s stock.

LPL Financial Price Performance

Shares of LPLA stock opened at $200.10 on Wednesday. LPL Financial Holdings Inc. has a 1 year low of $169.68 and a 1 year high of $271.56. The firm’s 50 day moving average is $197.54 and its 200-day moving average is $215.72. The firm has a market capitalization of $15.54 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 0.60 and a beta of 0.90. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 1.30.

LPL Financial (NASDAQ:LPLA – Get Rating) last announced its quarterly earnings data on Thursday, April 27th. The financial services provider reported $4.49 earnings per share for the quarter, beating the consensus estimate of $4.35 by $0.14. LPL Financial had a net margin of 11.74% and a return on equity of 55.42%. The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.39 billion. Sell-side analysts forecast that LPL Financial Holdings Inc. will post 16.74 EPS for the current fiscal year.

LPL Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Investors of record on Thursday, May 18th were issued a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, May 17th. This represents a $1.20 annualized dividend and a yield of 0.60%. LPL Financial’s dividend payout ratio is currently 9.22%.

Analysts Set New Price Targets

A number of research firms recently weighed in on LPLA. Bank of America lowered their target price on shares of LPL Financial from $246.00 to $228.00 and set a “neutral” rating on the stock in a research note on Thursday, April 13th. JPMorgan Chase & Co. lowered their target price on shares of LPL Financial from $256.00 to $238.00 and set a “neutral” rating on the stock in a research note on Monday, April 3rd. Jefferies Financial Group decreased their price objective on shares of LPL Financial from $254.00 to $246.00 in a research note on Monday, June 5th. UBS Group decreased their price objective on shares of LPL Financial from $215.00 to $210.00 in a research note on Friday, April 28th. Finally, Citigroup decreased their price objective on shares of LPL Financial from $290.00 to $230.00 and set a “buy” rating on the stock in a research note on Tuesday, April 11th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $236.00.

Insiders Place Their Bets

In other news, Director William Francis Glavin, Jr. bought 557 shares of the business’s stock in a transaction on Thursday, May 4th. The shares were bought at an average cost of $180.23 per share, for a total transaction of $100,388.11. Following the completion of the acquisition, the director now owns 2,775 shares in the company, valued at approximately $500,138.25. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.30% of the company’s stock.

LPL Financial Profile

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LPL Financial Holdings, Inc serves independent financial advisors and financial institutions, providing them with the technology, research, clearing and compliance services, and practice management programs they need to create and grow their practices. It provides objective financial guidance to millions of American families seeking wealth management, retirement planning, financial planning and asset management solutions.