Tennessee Valley Asset Management Partners Invests $73,000 in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Tennessee Valley Asset Management Partners bought a new position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 322 shares of the financial services provider’s stock, valued at approximately $73,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in LPLA. Sapient Capital LLC bought a new stake in LPL Financial in the 4th quarter worth about $655,000. Cerity Partners LLC purchased a new stake in LPL Financial in the 4th quarter worth approximately $1,127,000. Iridian Asset Management LLC CT lifted its stake in LPL Financial by 101.3% in the 4th quarter. Iridian Asset Management LLC CT now owns 60,155 shares of the financial services provider’s stock worth $13,692,000 after purchasing an additional 30,273 shares in the last quarter. Custom Index Systems LLC purchased a new stake in LPL Financial in the 4th quarter worth approximately $278,000. Finally, Tobam increased its holdings in shares of LPL Financial by 0.7% in the 4th quarter. Tobam now owns 20,734 shares of the financial services provider’s stock worth $4,719,000 after buying an additional 138 shares during the last quarter. 95.66% of the stock is owned by institutional investors.

Insider Transactions at LPL Financial

In other news, CEO Dan H. Arnold sold 34,807 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $266.54, for a total value of $9,277,457.78. Following the transaction, the chief executive officer now owns 141,810 shares of the company’s stock, valued at $37,798,037.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Matthew Enyedi sold 1,381 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $256.94, for a total value of $354,834.14. Following the transaction, the director now owns 8,634 shares of the company’s stock, valued at $2,218,419.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Dan H. Arnold sold 34,807 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now owns 141,810 shares in the company, valued at approximately $37,798,037.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 60,151 shares of company stock valued at $15,911,088. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on LPLA shares. JPMorgan Chase & Co. increased their price target on shares of LPL Financial from $254.00 to $260.00 and gave the stock a “neutral” rating in a report on Tuesday, April 2nd. JMP Securities lifted their price target on shares of LPL Financial from $290.00 to $305.00 and gave the company a “market outperform” rating in a research report on Tuesday, April 9th. UBS Group raised their price objective on shares of LPL Financial from $260.00 to $267.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Barclays raised their price objective on shares of LPL Financial from $302.00 to $312.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Finally, Morgan Stanley upgraded shares of LPL Financial from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $254.00 to $315.00 in a research note on Tuesday, April 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $268.36.

LPL Financial Price Performance

Shares of NASDAQ:LPLA opened at $264.29 on Tuesday. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.77 and a quick ratio of 1.77. LPL Financial Holdings Inc. has a 1-year low of $179.00 and a 1-year high of $274.35. The company has a market capitalization of $19.74 billion, a P/E ratio of 19.36, a P/E/G ratio of 1.27 and a beta of 0.84. The firm’s 50 day simple moving average is $263.14 and its two-hundred day simple moving average is $241.11.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings results on Thursday, February 1st. The financial services provider reported $3.51 earnings per share for the quarter, beating 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 business had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter in the previous year, the firm earned $4.21 earnings per share. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. Research analysts expect that LPL Financial Holdings Inc. will post 15.55 EPS for the current fiscal year.

LPL Financial Announces Dividend

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

LPL Financial Company Profile

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.