LPL Financial (NASDAQ:LPLA) Shares Acquired Sen. Markwayne Mullin

Senator Markwayne Mullin (R-Oklahoma) recently bought shares of LPL Financial Holdings Inc. (NASDAQ:LPLA). In a filing disclosed on February 27th, the Senator disclosed that they had bought between $50,001 and $100,000 in LPL Financial stock on February 13th.

Senator Markwayne Mullin also recently made the following trade(s):

• Purchased $15,001 – $50,000 in shares of Amazon.com (NASDAQ:AMZN) on 2/13/2025.
• Sold $15,001 – $50,000 in shares of Honeywell International (NASDAQ:HON) on 2/13/2025.
• Purchased $15,001 – $50,000 in shares of IQVIA (NYSE:IQV) on 2/13/2025.
• Sold $15,001 – $50,000 in shares of Brick (TSE:BRK) on 2/13/2025.
• Sold $100,001 – $250,000 in shares of Vanguard Materials ETF (NYSEARCA:VAW) on 2/13/2025.
• Purchased $50,001 – $100,000 in shares of Microsoft (NASDAQ:MSFT) on 2/13/2025.
• Sold $15,001 – $50,000 in shares of Constellation Brands (NYSE:STZ) on 2/13/2025.
• Purchased $15,001 – $50,000 in shares of TJX Companies (NYSE:TJX) on 2/13/2025.
• Sold $50,001 – $100,000 in shares of Advanced Micro Devices (NASDAQ:AMD) on 2/13/2025.
• Purchased $50,001 – $100,000 in shares of Accenture (NYSE:ACN) on 2/13/2025.

LPL Financial Stock Performance

NASDAQ:LPLA opened at $371.74 on Friday. The company’s 50-day moving average is $352.80 and its two-hundred day moving average is $295.52. The firm has a market capitalization of $27.72 billion, a price-to-earnings ratio of 26.48, a PEG ratio of 0.94 and a beta of 0.87. LPL Financial Holdings Inc. has a 1-year low of $187.19 and a 1-year high of $384.04. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.01 by $0.24. LPL Financial had a net margin of 8.55% and a return on equity of 49.41%. Analysts forecast that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $1.20 annualized dividend and a yield of 0.32%. LPL Financial’s payout ratio is 8.55%.

Institutional Investors Weigh In On LPL Financial

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of LPL Financial in the 4th quarter valued at $6,821,000. Employees Retirement System of Texas raised its holdings in shares of LPL Financial by 37.5% in the 4th quarter. Employees Retirement System of Texas now owns 231,500 shares of the financial services provider’s stock valued at $75,587,000 after purchasing an additional 63,100 shares in the last quarter. Jefferies Financial Group Inc. raised its holdings in shares of LPL Financial by 143.9% in the 4th quarter. Jefferies Financial Group Inc. now owns 17,400 shares of the financial services provider’s stock valued at $5,681,000 after purchasing an additional 10,266 shares in the last quarter. Pinnacle Wealth Planning Services Inc. acquired a new stake in shares of LPL Financial in the 4th quarter valued at $450,000. Finally, B. Riley Wealth Advisors Inc. purchased a new position in shares of LPL Financial in the 4th quarter valued at $205,000. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at LPL Financial

In related news, Director Marc Eliot Cohen sold 1,100 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $365.85, for a total value of $402,435.00. Following the transaction, the director now directly owns 4,075 shares of the company’s stock, valued at $1,490,838.75. This trade represents a 21.26 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Matthew J. Audette sold 4,588 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $360.07, for a total transaction of $1,652,001.16. Following the transaction, the chief financial officer now directly owns 16,538 shares in the company, valued at $5,954,837.66. The trade was a 21.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,770 shares of company stock valued at $12,663,312 in the last ninety days. Insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

LPLA has been the topic of a number of research analyst reports. Barclays boosted their price target on shares of LPL Financial from $389.00 to $414.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. UBS Group boosted their price target on shares of LPL Financial from $390.00 to $420.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Wells Fargo & Company boosted their price target on shares of LPL Financial from $390.00 to $405.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Keefe, Bruyette & Woods upped their target price on shares of LPL Financial from $390.00 to $405.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Finally, TD Cowen raised shares of LPL Financial from a “hold” rating to a “buy” rating and upped their target price for the stock from $277.00 to $413.00 in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $379.17.

About Senator Mullin

Markwayne Mullin (Republican Party) is a member of the U.S. Senate from Oklahoma. He assumed office on January 11, 2023. His current term ends on January 3, 2027. Mullin (Republican Party) ran in a special election to the U.S. Senate to represent Oklahoma. He won in the special general election on November 8, 2022. Mullin is a member of the Cherokee Nation and one of four Native American members of the 116th Congress. At the age of 20, Mullin took over his father’s plumbing business. He is also a former professional mixed martial artist. Markwayne Mullin graduated from Stilwell High School. Mullin earned an associate degree in construction technology from Oklahoma State University Institute of Technology. His career experience includes owning and founding multiple businesses.

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.