LPL Financial Holdings Inc (NASDAQ:LPLA) CEO Dan H. Arnold sold 11,206 shares of the business’s stock in a transaction on Wednesday, March 7th. The shares were sold at an average price of $63.46, for a total transaction of $711,132.76. Following the completion of the transaction, the chief executive officer now owns 229,761 shares of the company’s stock, valued at $14,580,633.06. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.
Dan H. Arnold also recently made the following trade(s):
- On Monday, February 26th, Dan H. Arnold sold 4,004 shares of LPL Financial stock. The shares were sold at an average price of $65.20, for a total transaction of $261,060.80.
Shares of LPL Financial Holdings Inc (NASDAQ LPLA) opened at $65.45 on Friday. The company has a market cap of $5,767.15, a price-to-earnings ratio of 21.93, a P/E/G ratio of 1.13 and a beta of 1.59. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 2.47. LPL Financial Holdings Inc has a 1-year low of $37.38 and a 1-year high of $66.64.
LPL Financial announced that its board has initiated a share buyback program on Tuesday, December 5th that allows the company to buyback $359.00 million in shares. This buyback authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 23rd. Stockholders of record on Friday, March 9th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend is Thursday, March 8th. LPL Financial’s payout ratio is 38.76%.
Several institutional investors have recently added to or reduced their stakes in LPLA. The Manufacturers Life Insurance Company grew its holdings in shares of LPL Financial by 8.2% during the second quarter. The Manufacturers Life Insurance Company now owns 2,794 shares of the financial services provider’s stock worth $119,000 after buying an additional 211 shares in the last quarter. American International Group Inc. purchased a new stake in shares of LPL Financial during the fourth quarter worth $119,000. Cerebellum GP LLC purchased a new stake in shares of LPL Financial during the fourth quarter worth $122,000. Ladenburg Thalmann Financial Services Inc. grew its holdings in shares of LPL Financial by 140.7% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,186 shares of the financial services provider’s stock worth $125,000 after buying an additional 1,278 shares in the last quarter. Finally, Comerica Bank purchased a new stake in shares of LPL Financial during the third quarter worth $200,000. 92.22% of the stock is owned by institutional investors and hedge funds.
Several research firms recently issued reports on LPLA. Zacks Investment Research cut shares of LPL Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Morgan Stanley boosted their target price on shares of LPL Financial from $62.00 to $66.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 7th. BidaskClub upgraded shares of LPL Financial from a “hold” rating to a “buy” rating in a research note on Monday, February 5th. Citigroup boosted their target price on shares of LPL Financial from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, February 5th. Finally, Credit Suisse Group boosted their price target on shares of LPL Financial from $77.00 to $85.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. LPL Financial currently has a consensus rating of “Buy” and a consensus price target of $68.36.
COPYRIGHT VIOLATION NOTICE: “Dan H. Arnold Sells 11,206 Shares of LPL Financial Holdings Inc (LPLA) Stock” was originally reported by StockNewsTimes and is owned by of StockNewsTimes. If you are viewing this piece on another site, it was copied illegally and republished in violation of United States and international trademark and copyright laws. The correct version of this piece can be viewed at https://stocknewstimes.com/2018/03/10/dan-h-arnold-sells-11206-shares-of-lpl-financial-holdings-inc-lpla-stock.html.
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.
Receive News & Ratings for LPL Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LPL Financial and related companies with MarketBeat.com's FREE daily email newsletter.