Raymond James & Associates grew its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 2.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 373,968 shares of the financial services provider's stock after acquiring an additional 8,177 shares during the period. Raymond James & Associates owned 0.50% of LPL Financial worth $98,802,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of LPLA. EdgeRock Capital LLC bought a new stake in LPL Financial in the fourth quarter worth $25,000. Smithfield Trust Co boosted its holdings in LPL Financial by 164.4% in the third quarter. Smithfield Trust Co now owns 119 shares of the financial services provider's stock worth $28,000 after purchasing an additional 74 shares in the last quarter. GAMMA Investing LLC bought a new stake in LPL Financial in the fourth quarter worth $30,000. Gladius Capital Management LP bought a new stake in LPL Financial in the fourth quarter worth $30,000. Finally, Riverview Trust Co bought a new stake in LPL Financial in the first quarter worth $30,000. 95.66% of the stock is currently owned by institutional investors.
Insider Activity
In related news, CEO Dan H. Arnold sold 10,000 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $256.35, for a total value of $2,563,500.00. Following the completion of the transaction, the chief executive officer now owns 137,044 shares of the company's stock, valued at $35,131,229.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Dan H. Arnold sold 10,000 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $256.35, for a total value of $2,563,500.00. Following the completion of the transaction, the chief executive officer now owns 137,044 shares of the company's stock, valued at $35,131,229.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Dan H. Arnold sold 34,807 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $266.54, for a total transaction of $9,277,457.78. Following the completion of the transaction, the chief executive officer now directly owns 141,810 shares of the company's stock, valued at approximately $37,798,037.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 60,151 shares of company stock valued at $15,911,088. Insiders own 1.30% of the company's stock.
LPL Financial Stock Performance
Shares of LPLA traded up $3.98 during trading hours on Thursday, reaching $269.47. 562,073 shares of the company traded hands, compared to its average volume of 542,490. The stock's fifty day moving average is $264.62 and its 200 day moving average is $242.70. The stock has a market cap of $20.13 billion, a P/E ratio of 20.43, a price-to-earnings-growth ratio of 1.30 and a beta of 0.83. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.77 and a current ratio of 1.77. LPL Financial Holdings Inc. has a 1-year low of $179.00 and a 1-year high of $276.12.
LPL Financial (NASDAQ:LPLA - Get Free Report) last announced its quarterly earnings data on Thursday, February 1st. The financial services provider reported $3.51 EPS for the quarter, beating analysts' consensus estimates of $3.33 by $0.18. The business had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.55 billion. LPL Financial had a net margin of 9.71% and a return on equity of 56.36%. The firm's revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.21 earnings per share. Equities research analysts anticipate that LPL Financial Holdings Inc. will post 15.55 earnings per share for the current fiscal year.
LPL Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date is Monday, May 20th. LPL Financial's dividend payout ratio is currently 9.06%.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on LPLA. Barclays upped their price objective on shares of LPL Financial from $302.00 to $312.00 and gave the stock an "overweight" rating in a report on Monday, April 8th. JMP Securities reiterated a "market outperform" rating and issued a $305.00 price objective on shares of LPL Financial in a report on Wednesday. TD Cowen boosted their target price on shares of LPL Financial from $269.00 to $271.00 and gave the stock a "hold" rating in a research report on Wednesday. Raymond James began coverage on shares of LPL Financial in a research report on Thursday, April 4th. They set an "underperform" rating for the company. Finally, Morgan Stanley raised shares of LPL Financial from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $254.00 to $315.00 in a research report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $276.20.
Get Our Latest Analysis on LPLA
LPL Financial Company Profile
(
Free Report)
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.
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