Arkadios Wealth Advisors bought a new position in LPL Financial Holdings Inc. (NASDAQ:LPLA – Free Report) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 847 shares of the financial services provider’s stock, valued at approximately $277,000.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Mutual of America Capital Management LLC acquired a new position in LPL Financial during the 2nd quarter worth $996,000. AE Wealth Management LLC acquired a new stake in LPL Financial in the second quarter worth about $491,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in LPL Financial by 57.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 14,261 shares of the financial services provider’s stock valued at $3,983,000 after buying an additional 5,232 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in LPL Financial during the 2nd quarter valued at about $40,004,000. Finally, Toronto Dominion Bank raised its position in shares of LPL Financial by 32.3% during the 2nd quarter. Toronto Dominion Bank now owns 88,953 shares of the financial services provider’s stock worth $24,845,000 after buying an additional 21,740 shares in the last quarter. 95.66% of the stock is currently owned by institutional investors.
Insider Activity at LPL Financial
In other LPL Financial news, Director Aneri Jambusaria sold 305 shares of the stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $331.94, for a total value of $101,241.70. Following the completion of the sale, the director now owns 3,920 shares in the company, valued at $1,301,204.80. This represents a 7.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is owned by insiders.
LPL Financial Stock Performance
LPL Financial (NASDAQ:LPLA – Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 EPS for the quarter, topping analysts’ consensus estimates of $3.69 by $0.47. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. The firm had revenue of $3.11 billion during the quarter, compared to analyst estimates of $3.04 billion. During the same quarter last year, the business posted $3.74 EPS. The company’s revenue was up 6.0% on a year-over-year basis. On average, equities research analysts expect that LPL Financial Holdings Inc. will post 16.17 earnings per share for the current year.
LPL Financial Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Thursday, November 14th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.33%. The ex-dividend date was Thursday, November 14th. LPL Financial’s payout ratio is 9.02%.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on the stock. TD Cowen upgraded shares of LPL Financial from a “hold” rating to a “buy” rating and raised their price objective for the company from $277.00 to $413.00 in a research note on Thursday, December 19th. Barclays boosted their price objective on LPL Financial from $378.00 to $379.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Wells Fargo & Company raised their target price on LPL Financial from $310.00 to $390.00 and gave the company an “overweight” rating in a research note on Thursday, December 12th. UBS Group raised shares of LPL Financial from a “neutral” rating to a “buy” rating and set a $390.00 price target for the company in a report on Monday, January 6th. Finally, JMP Securities restated a “market outperform” rating and set a $310.00 price objective on shares of LPL Financial in a research report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $351.50.
Get Our Latest Research Report on LPLA
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.
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