60,062 Shares in LPL Financial Holdings Inc. (NASDAQ:LPLA) Acquired by Rivermont Capital Management LP

Rivermont Capital Management LP bought a new stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 60,062 shares of the financial services provider's stock, valued at approximately $19,611,000. LPL Financial makes up about 7.4% of Rivermont Capital Management LP's investment portfolio, making the stock its 2nd biggest position. Rivermont Capital Management LP owned approximately 0.08% of LPL Financial as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Anchor Investment Management LLC increased its holdings in LPL Financial by 0.3% in the 4th quarter. Anchor Investment Management LLC now owns 9,697 shares of the financial services provider's stock worth $3,166,000 after acquiring an additional 28 shares in the last quarter. Colonial Trust Co SC increased its holdings in LPL Financial by 6.1% in the 4th quarter. Colonial Trust Co SC now owns 505 shares of the financial services provider's stock worth $165,000 after acquiring an additional 29 shares in the last quarter. Wealth Alliance increased its holdings in LPL Financial by 2.1% in the 4th quarter. Wealth Alliance now owns 1,483 shares of the financial services provider's stock worth $484,000 after acquiring an additional 30 shares in the last quarter. United Capital Financial Advisors LLC increased its holdings in LPL Financial by 2.6% in the 4th quarter. United Capital Financial Advisors LLC now owns 1,203 shares of the financial services provider's stock worth $393,000 after acquiring an additional 31 shares in the last quarter. Finally, Sanchez Wealth Management Group increased its holdings in LPL Financial by 2.1% in the 4th quarter. Sanchez Wealth Management Group now owns 1,686 shares of the financial services provider's stock worth $551,000 after acquiring an additional 35 shares in the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.

LPL Financial Trading Up 0.2%

Shares of LPLA stock traded up $0.76 on Monday, hitting $385.37. 361,562 shares of the stock traded hands, compared to its average volume of 834,641. The firm's 50-day moving average price is $326.05 and its two-hundred day moving average price is $333.86. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. The stock has a market capitalization of $30.82 billion, a PE ratio of 27.45, a PEG ratio of 0.94 and a beta of 0.65. LPL Financial Holdings Inc. has a twelve month low of $187.19 and a twelve month high of $390.23.

LPL Financial (NASDAQ:LPLA - Get Free Report) last posted its earnings results on Thursday, May 8th. The financial services provider reported $5.15 EPS for the quarter, beating analysts' consensus estimates of $4.54 by $0.61. LPL Financial had a net margin of 8.55% and a return on equity of 49.41%. The company had revenue of $3.67 billion for the quarter, compared to analysts' expectations of $3.63 billion. During the same quarter in the prior year, the company posted $3.83 earnings per share. LPL Financial's revenue for the quarter was up 4.5% compared to the same quarter last year. As a group, analysts anticipate that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 30th will be given a $0.30 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.20 dividend on an annualized basis and a yield of 0.31%. LPL Financial's payout ratio is currently 8.30%.

Insiders Place Their Bets

In other LPL Financial news, Director Marc Eliot Cohen sold 1,100 shares of the business's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $365.85, for a total transaction of $402,435.00. Following the sale, the director now directly owns 4,075 shares in the company, valued at $1,490,838.75. This represents a 21.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Matthew J. Audette sold 4,588 shares of the business's stock in a transaction dated 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 sale, the chief financial officer now owns 16,538 shares in the company, valued at $5,954,837.66. This trade represents a 21.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.30% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on LPLA. Keefe, Bruyette & Woods lifted 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. UBS Group lifted their target price on shares of LPL Financial from $390.00 to $420.00 and gave the stock a "buy" rating in a research note on Friday, January 31st. StockNews.com raised shares of LPL Financial from a "sell" rating to a "hold" rating in a research note on Tuesday, May 13th. Wells Fargo & Company lowered their target price on shares of LPL Financial from $405.00 to $342.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Finally, JPMorgan Chase & Co. lifted their target price on shares of LPL Financial from $397.00 to $405.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, LPL Financial has a consensus rating of "Moderate Buy" and an average price target of $374.42.

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.