Sanctuary Advisors LLC Increases Stake in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Sanctuary Advisors LLC increased its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 25.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,399 shares of the financial services provider's stock after purchasing an additional 3,339 shares during the quarter. Sanctuary Advisors LLC's holdings in LPL Financial were worth $3,815,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Ashton Thomas Private Wealth LLC bought a new stake in shares of LPL Financial in the second quarter valued at approximately $25,000. Key Financial Inc purchased a new stake in shares of LPL Financial during the second quarter worth $28,000. Ashton Thomas Securities LLC bought a new position in shares of LPL Financial in the third quarter worth $31,000. Paladin Wealth LLC purchased a new position in shares of LPL Financial in the third quarter valued at $34,000. Finally, Crewe Advisors LLC raised its stake in shares of LPL Financial by 360.7% during the 2nd quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider's stock valued at $36,000 after purchasing an additional 101 shares during the period. Hedge funds and other institutional investors own 95.66% of the company's stock.

LPL Financial Price Performance

LPLA traded down $0.37 during midday trading on Tuesday, hitting $329.40. The stock had a trading volume of 433,562 shares, compared to its average volume of 717,373. The company has a market cap of $24.67 billion, a P/E ratio of 24.77, a price-to-earnings-growth ratio of 1.61 and a beta of 0.86. LPL Financial Holdings Inc. has a 1 year low of $187.19 and a 1 year high of $334.38. The business has a fifty day moving average of $295.61 and a 200 day moving average of $259.01. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16.

LPL Financial (NASDAQ:LPLA - Get Free Report) last issued its earnings results on Wednesday, October 30th. The financial services provider reported $4.16 EPS for the quarter, topping analysts' consensus estimates of $3.69 by $0.47. The company had revenue of $3.11 billion for the quarter, compared to analysts' expectations of $3.04 billion. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. The firm's revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the company earned $3.74 EPS. As a group, equities analysts forecast that LPL Financial Holdings Inc. will post 16.1 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th were given a $0.30 dividend. The ex-dividend date was Thursday, November 14th. This represents a $1.20 annualized dividend and a yield of 0.36%. LPL Financial's payout ratio is currently 9.02%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. StockNews.com raised LPL Financial from a "sell" rating to a "hold" rating in a report on Saturday, November 9th. TD Cowen boosted their price objective on shares of LPL Financial from $271.00 to $277.00 and gave the company a "hold" rating in a research note on Thursday, October 31st. Morgan Stanley increased their target price on shares of LPL Financial from $303.00 to $309.00 and gave the stock an "overweight" rating in a research note on Thursday, October 17th. Citigroup upped their price target on shares of LPL Financial from $285.00 to $310.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. Finally, UBS Group lifted their price objective on LPL Financial from $215.00 to $250.00 and gave the company a "neutral" rating in a research note on Tuesday, October 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, LPL Financial presently has a consensus rating of "Moderate Buy" and an average price target of $305.17.

Insider Activity

In related news, Director Aneri Jambusaria sold 305 shares of the business's stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $331.94, for a total transaction of $101,241.70. Following the transaction, the director now owns 3,920 shares in the company, valued at $1,301,204.80. The trade was a 7.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.30% of the company's stock.

About LPL Financial

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.