Transcend Capital Advisors LLC Purchases 478 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Transcend Capital Advisors LLC raised its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 58.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,301 shares of the financial services provider’s stock after purchasing an additional 478 shares during the period. Transcend Capital Advisors LLC’s holdings in LPL Financial were worth $363,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of LPLA. EdgeRock Capital LLC bought a new stake in LPL Financial during the 4th quarter valued at $25,000. GAMMA Investing LLC purchased a new position in shares of LPL Financial in the 4th quarter valued at $30,000. Gladius Capital Management LP purchased a new position in shares of LPL Financial in the 4th quarter valued at $30,000. Riverview Trust Co purchased a new position in shares of LPL Financial in the 1st quarter valued at $30,000. Finally, American National Bank purchased a new position in shares of LPL Financial in the 4th quarter valued at $32,000. 95.66% of the stock is owned by institutional investors.

LPL Financial Price Performance

NASDAQ:LPLA traded down $16.69 during trading hours on Friday, hitting $198.05. 1,437,907 shares of the stock were exchanged, compared to its average volume of 1,688,566. LPL Financial Holdings Inc. has a 52-week low of $197.92 and a 52-week high of $289.88. The firm’s fifty day moving average price is $262.43 and its 200 day moving average price is $261.41. The company has a current ratio of 2.16, a quick ratio of 1.84 and a debt-to-equity ratio of 1.77. The company has a market cap of $14.81 billion, a P/E ratio of 14.96, a P/E/G ratio of 1.23 and a beta of 0.90.

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

LPL Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, August 9th will be given a $0.30 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.61%. LPL Financial’s dividend payout ratio (DPR) is presently 9.06%.

Analysts Set New Price Targets

LPLA has been the topic of several research analyst reports. Bank of America upgraded LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 target price on the stock in a research note on Tuesday, July 30th. Jefferies Financial Group boosted their target price on LPL Financial from $322.00 to $334.00 and gave the stock a “buy” rating in a research note on Monday, July 8th. JPMorgan Chase & Co. boosted their target price 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 dropped their target price on LPL Financial from $313.00 to $273.00 and set an “overweight” rating on the stock in a research note on Friday, July 26th. Finally, TD Cowen boosted their target price on LPL Financial from $243.00 to $255.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $286.80.

Insider Activity

In other news, CEO Dan H. Arnold sold 5,677 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $277.31, for a total value of $1,574,288.87. Following the completion of the sale, the chief executive officer now directly owns 142,608 shares in the company, valued at $39,546,624.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.30% of the company’s stock.

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.