Ritholtz Wealth Management Has $746,000 Stock Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Ritholtz Wealth Management lessened its position in LPL Financial Holdings Inc. (NASDAQ:LPLAFree Report) by 14.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 3,277 shares of the financial services provider’s stock after selling 556 shares during the period. Ritholtz Wealth Management’s holdings in LPL Financial were worth $746,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Smithfield Trust Co grew its position in LPL Financial by 164.4% in the 3rd quarter. Smithfield Trust Co now owns 119 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 74 shares during the period. First Manhattan Co. acquired a new position in shares of LPL Financial during the fourth quarter valued at about $27,000. Quarry LP increased its position in shares of LPL Financial by 220.4% during the second quarter. Quarry LP now owns 173 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 119 shares in the last quarter. Fred Alger Management LLC acquired a new stake in shares of LPL Financial in the 3rd quarter worth about $44,000. Finally, First Capital Advisors Group LLC. bought a new position in LPL Financial in the 2nd quarter valued at about $49,000. Institutional investors own 95.66% of the company’s stock.

Insider Transactions at LPL Financial

In other LPL Financial news, CEO Dan H. Arnold sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $256.35, for a total transaction of $2,563,500.00. Following the sale, the chief executive officer now owns 137,044 shares in the company, valued at $35,131,229.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Matthew Enyedi sold 1,381 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $256.94, for a total transaction of $354,834.14. Following the transaction, the director now owns 8,634 shares of the company’s stock, valued at approximately $2,218,419.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Dan H. Arnold sold 10,000 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $256.35, for a total transaction of $2,563,500.00. Following the completion of the sale, the chief executive officer now directly owns 137,044 shares of the company’s stock, valued at $35,131,229.40. 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. 1.30% of the stock is owned by corporate insiders.

LPL Financial Price Performance

Shares of NASDAQ:LPLA opened at $264.20 on Friday. LPL Financial Holdings Inc. has a 12 month low of $179.00 and a 12 month high of $274.35. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 1.80. The stock has a market cap of $19.67 billion, a P/E ratio of 19.36, a P/E/G ratio of 0.78 and a beta of 0.85. The company has a 50 day moving average of $257.52 and a 200 day moving average of $238.73.

LPL Financial (NASDAQ:LPLAGet Free Report) last released its quarterly earnings results on Thursday, February 1st. The financial services provider reported $3.51 earnings per share for the quarter, topping the consensus estimate of $3.33 by $0.18. LPL Financial had a net margin of 10.61% and a return on equity of 57.68%. The firm had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.55 billion. During the same quarter in the prior year, the firm posted $4.21 earnings per share. The business’s quarterly revenue was up 13.3% on a year-over-year basis. As a group, sell-side analysts forecast that LPL Financial Holdings Inc. will post 15.8 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Tuesday, March 12th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, March 11th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.45%. LPL Financial’s dividend payout ratio (DPR) is presently 8.79%.

Analysts Set New Price Targets

LPLA has been the topic of several analyst reports. TD Cowen lifted their target price on LPL Financial from $266.00 to $269.00 and gave the company a “market perform” rating in a research report on Friday, March 22nd. JMP Securities reiterated a “market outperform” rating and issued a $290.00 target price on shares of LPL Financial in a research note on Friday, February 2nd. Morgan Stanley raised their price target on shares of LPL Financial from $252.00 to $254.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 13th. Barclays boosted their price objective on LPL Financial from $300.00 to $302.00 and gave the stock an “overweight” rating in a research report on Monday, February 26th. Finally, UBS Group boosted their price target on shares of LPL Financial from $260.00 to $267.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, LPL Financial currently has an average rating of “Hold” and a consensus target price of $259.73.

Check Out Our Latest Stock Analysis on LPL Financial

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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Institutional Ownership by Quarter for LPL Financial (NASDAQ:LPLA)

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