Western Standard LLC purchased a new position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 10,800 shares of the financial services provider’s stock, valued at approximately $557,000.
Several other hedge funds and other institutional investors also recently modified their holdings of LPLA. Mckinley Capital Management LLC Delaware purchased a new position in LPL Financial in the second quarter worth $104,000. Public Employees Retirement Association of Colorado raised its position in LPL Financial by 1.9% in the second quarter. Public Employees Retirement Association of Colorado now owns 2,776 shares of the financial services provider’s stock worth $118,000 after acquiring an additional 52 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in LPL Financial by 8.2% in the second quarter. The Manufacturers Life Insurance Company now owns 2,794 shares of the financial services provider’s stock worth $119,000 after acquiring an additional 211 shares in the last quarter. Comerica Bank purchased a new position in LPL Financial in the third quarter worth $200,000. Finally, Virginia Retirement Systems ET AL purchased a new position in LPL Financial in the third quarter worth $227,000. 90.33% of the stock is owned by hedge funds and other institutional investors.
In other news, CEO Dan H. Arnold sold 3,742 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $48.54, for a total value of $181,636.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.00% of the company’s stock.
LPL Financial Holdings Inc. (NASDAQ LPLA) opened at $53.90 on Wednesday. LPL Financial Holdings Inc. has a 52-week low of $34.01 and a 52-week high of $55.39. The firm has a market capitalization of $4,774.67, a price-to-earnings ratio of 21.26, a PEG ratio of 1.77 and a beta of 1.88. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.48 and a quick ratio of 1.48.
LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.03. LPL Financial had a return on equity of 26.03% and a net margin of 5.19%. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter last year, the business posted $0.58 earnings per share. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. sell-side analysts forecast that LPL Financial Holdings Inc. will post 2.31 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, November 27th. Stockholders of record on Thursday, November 9th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend was Wednesday, November 8th. LPL Financial’s dividend payout ratio is currently 42.55%.
LPL Financial Company Profile
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.
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