LPL Financial Holdings Inc (NASDAQ:LPLA) insider John Andrew Kalbaugh sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $62.61, for a total value of $626,100.00. Following the transaction, the insider now owns 38,050 shares in the company, valued at $2,382,310.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

LPL Financial Holdings Inc (NASDAQ:LPLA) traded down $1.25 during mid-day trading on Thursday, hitting $61.50. 432,105 shares of the stock traded hands, compared to its average volume of 964,457. The stock has a market cap of $5,645.00, a price-to-earnings ratio of 24.10, a PEG ratio of 1.27 and a beta of 1.74. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 2.54. LPL Financial Holdings Inc has a 1 year low of $37.38 and a 1 year high of $64.71.

LPL Financial announced that its Board of Directors has initiated a share repurchase plan on Tuesday, December 5th that permits the company to repurchase $359.00 million in outstanding shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Several brokerages have recently weighed in on LPLA. Morgan Stanley boosted their target price on LPL Financial from $62.00 to $66.00 and gave the stock an “equal weight” rating in a report on Wednesday. BidaskClub upgraded LPL Financial from a “hold” rating to a “buy” rating in a report on Monday. Credit Suisse Group boosted their target price on LPL Financial from $77.00 to $85.00 and gave the stock an “outperform” rating in a report on Monday. Nomura boosted their target price on LPL Financial from $80.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $73.00 target price on shares of LPL Financial in a report on Friday, February 2nd. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. LPL Financial currently has a consensus rating of “Buy” and a consensus target price of $66.00.

A number of hedge funds and other institutional investors have recently made changes to their positions in LPLA. Vaughan Nelson Investment Management L.P. purchased a new stake in LPL Financial in the third quarter valued at approximately $31,835,000. Zweig DiMenna Associates LLC purchased a new stake in LPL Financial in the third quarter valued at approximately $20,250,000. Frontier Capital Management Co. LLC raised its position in LPL Financial by 124.6% in the fourth quarter. Frontier Capital Management Co. LLC now owns 502,352 shares of the financial services provider’s stock valued at $28,704,000 after purchasing an additional 278,713 shares during the period. JPMorgan Chase & Co. raised its position in LPL Financial by 72.1% in the third quarter. JPMorgan Chase & Co. now owns 656,891 shares of the financial services provider’s stock valued at $33,882,000 after purchasing an additional 275,138 shares during the period. Finally, Russell Investments Group Ltd. raised its position in LPL Financial by 204.8% in the third quarter. Russell Investments Group Ltd. now owns 271,160 shares of the financial services provider’s stock valued at $13,983,000 after purchasing an additional 182,210 shares during the period. 90.32% of the stock is currently owned by institutional investors.

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About LPL Financial

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.

Insider Buying and Selling by Quarter for LPL Financial (NASDAQ:LPLA)

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