Leelyn Smith LLC Invests $1.13 Million in LPL Financial Holdings Inc. $LPLA

Key Points

• Leelyn Smith LLC opened a new position in LPL Financial in Q4, buying 3,150 shares worth about $1.13 million, as part of a stock base that is 95.66% owned by institutional investors.
• Corporate insiders have been net sellers recently — Director Marc Eliot Cohen sold 2,212 shares and CFO Matthew J. Audette sold 1,581 shares, with insiders offloading a total of 8,569 shares (~$2.72 million) over the past three months, leaving insiders with 0.60% ownership.
• LPL beat Q4 expectations (EPS $5.23 vs. $4.82; revenue $4.93B) and analysts rate the stock an overall "Moderate Buy" with an average target price of about $401.93.

Leelyn Smith LLC acquired a new position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,150 shares of the financial services provider's stock, valued at approximately $1,125,000.

Several other large investors also recently modified their holdings of LPLA. Osterweis Capital Management Inc. acquired a new stake in shares of LPL Financial during the second quarter worth $26,000. SJS Investment Consulting Inc. increased its position in shares of LPL Financial by 912.5% during the third quarter. SJS Investment Consulting Inc. now owns 81 shares of the financial services provider's stock worth $27,000 after buying an additional 73 shares during the period. Chung Wu Investment Group LLC acquired a new stake in shares of LPL Financial during the third quarter worth $27,000. Steigerwald Gordon & Koch Inc. increased its position in shares of LPL Financial by 550.0% during the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 78 shares of the financial services provider's stock worth $28,000 after buying an additional 66 shares during the period. Finally, Eastern Bank increased its position in shares of LPL Financial by 72.0% during the third quarter. Eastern Bank now owns 86 shares of the financial services provider's stock worth $29,000 after buying an additional 36 shares during the period. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at LPL Financial

In other LPL Financial news, Director Marc Eliot Cohen sold 2,212 shares of the firm's stock in a transaction on Monday, March 9th. The shares were sold at an average price of $308.75, for a total value of $682,955.00. Following the transaction, the director directly owned 5,488 shares of the company's stock, valued at approximately $1,694,420. This trade represents a 28.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Matthew J. Audette sold 1,581 shares of the firm's stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $320.50, for a total transaction of $506,710.50. Following the completion of the transaction, the chief financial officer directly owned 21,382 shares in the company, valued at $6,852,931. This trade represents a 6.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 8,569 shares of company stock valued at $2,720,733. Corporate insiders own 0.60% of the company's stock.

Wall Street Analyst Weigh In

LPLA has been the subject of several recent analyst reports. TD Cowen reiterated a "hold" rating on shares of LPL Financial in a research report on Thursday, April 9th. Citizens Jmp reiterated a "market outperform" rating and set a $500.00 price objective on shares of LPL Financial in a research report on Monday, April 6th. JPMorgan Chase & Co. increased their price objective on shares of LPL Financial from $433.00 to $439.00 and gave the stock an "overweight" rating in a research report on Friday, January 30th. Weiss Ratings reissued a "hold (c)" rating on shares of LPL Financial in a research note on Wednesday, January 28th. Finally, Jefferies Financial Group cut their target price on shares of LPL Financial from $464.00 to $383.00 and set a "buy" rating on the stock in a research note on Monday, April 6th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, LPL Financial has an average rating of "Moderate Buy" and an average target price of $401.93.

LPL Financial Stock Up 0.7%

Shares of NASDAQ LPLA opened at $325.80 on Wednesday. LPL Financial Holdings Inc. has a 12-month low of $281.51 and a 12-month high of $403.58. The firm has a market cap of $26.13 billion, a PE ratio of 29.59, a P/E/G ratio of 0.89 and a beta of 0.56. The company's fifty day simple moving average is $309.13 and its 200 day simple moving average is $342.38. The company has a quick ratio of 2.45, a current ratio of 2.45 and a debt-to-equity ratio of 1.36.

LPL Financial (NASDAQ:LPLA - Get Free Report) last released its quarterly earnings data on Thursday, January 29th. The financial services provider reported $5.23 earnings per share for the quarter, beating analysts' consensus estimates of $4.82 by $0.41. LPL Financial had a net margin of 5.08% and a return on equity of 34.19%. The firm had revenue of $4.93 billion for the quarter, compared to analyst estimates of $4.90 billion. During the same period last year, the firm earned $4.25 earnings per share. The business's quarterly revenue was up 8.4% compared to the same quarter last year. As a group, sell-side analysts forecast that LPL Financial Holdings Inc. will post 23 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 10th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Tuesday, March 10th. LPL Financial's dividend payout ratio (DPR) is 10.90%.

About LPL Financial

LPL Financial NASDAQ: LPLA is a U.S.-focused financial services firm that provides brokerage, custodial and advisory platforms to independent financial advisors, registered investment advisers and institutions. Operating primarily as an independent broker-dealer and custodian, the company supports a network of advisors with the operational, compliance and clearing infrastructure needed to manage client accounts and deliver investment advice outside of traditional wirehouse models.

The firm's product and service offerings include trade execution and clearing, custody services, retirement plan services, model portfolio and advisory platforms, wealth management technology, investment research and product access across equities, fixed income, mutual funds, exchange-traded funds and insurance and annuity solutions.

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