Maverick Capital Ltd. Lowers Stock Position in LPL Financial Holdings Inc. $LPLA

by · The Markets Daily

Maverick Capital Ltd. cut its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA – Free Report) by 69.0% during the second quarter, Holdings Channel reports. The institutional investor owned 99,507 shares of the financial services provider’s stock after selling 221,273 shares during the quarter. Maverick Capital Ltd.’s holdings in LPL Financial were worth $37,312,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Osterweis Capital Management Inc. bought a new stake in LPL Financial during the second quarter worth about $26,000. Summit Securities Group LLC purchased a new position in shares of LPL Financial during the first quarter valued at approximately $26,000. SBI Securities Co. Ltd. lifted its holdings in shares of LPL Financial by 116.2% during the second quarter. SBI Securities Co. Ltd. now owns 80 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 43 shares during the last quarter. Bayforest Capital Ltd bought a new stake in shares of LPL Financial in the 2nd quarter worth approximately $34,000. Finally, Maseco LLP purchased a new stake in shares of LPL Financial in the 2nd quarter worth approximately $34,000. 95.66% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on LPLA shares. TD Cowen lifted their price objective on LPL Financial from $356.00 to $410.00 and gave the company a “hold” rating in a research note on Monday, November 3rd. Citizens Jmp raised their price target on LPL Financial from $455.00 to $475.00 and gave the company a “market outperform” rating in a report on Friday, October 31st. Raymond James Financial raised LPL Financial from an “underperform” rating to a “market perform” rating in a research report on Thursday, October 9th. JPMorgan Chase & Co. cut their price objective on shares of LPL Financial from $463.00 to $438.00 and set an “overweight” rating on the stock in a research report on Monday, October 20th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of LPL Financial in a research note on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $425.50.

View Our Latest Stock Report on LPLA

LPL Financial Trading Up 0.1%

LPL Financial stock opened at $387.45 on Friday. LPL Financial Holdings Inc. has a one year low of $262.83 and a one year high of $403.58. The business’s fifty day moving average is $351.86 and its 200 day moving average is $360.92. The stock has a market capitalization of $31.01 billion, a PE ratio of 35.68, a price-to-earnings-growth ratio of 0.85 and a beta of 0.60. The company has a debt-to-equity ratio of 1.49, a current ratio of 2.60 and a quick ratio of 2.60.

LPL Financial (NASDAQ:LPLA – Get Free Report) last posted its earnings results on Thursday, October 30th. The financial services provider reported $5.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.49 by $0.71. The business had revenue of $4.55 billion for the quarter, compared to analysts’ expectations of $4.08 billion. LPL Financial had a net margin of 5.35% and a return on equity of 36.80%. The business’s revenue for the quarter was up 46.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.16 EPS. On average, sell-side analysts predict that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Thursday, November 13th were issued a $0.30 dividend. The ex-dividend date was Thursday, November 13th. This represents a $1.20 annualized dividend and a yield of 0.3%. LPL Financial’s dividend payout ratio (DPR) is currently 11.05%.

Insiders Place Their Bets

In other news, CEO Richard Steinmeier sold 5,058 shares of the firm’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $370.99, for a total value of $1,876,467.42. Following the transaction, the chief executive officer directly owned 9,326 shares in the company, valued at $3,459,852.74. This trade represents a 35.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Greg Gates sold 750 shares of LPL Financial stock in a transaction on Friday, December 5th. The stock was sold at an average price of $370.97, for a total value of $278,227.50. Following the completion of the sale, the director directly owned 14,620 shares of the company’s stock, valued at $5,423,581.40. The trade was a 4.88% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 8,138 shares of company stock valued at $2,983,353. Company insiders own 1.30% of the company’s stock.

About LPL Financial

(Free Report)

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.

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