International Assets Investment Management LLC Acquires Shares of 117,907 LPL Financial Holdings Inc. (NASDAQ:LPLA)

International Assets Investment Management LLC acquired a new position in LPL Financial Holdings Inc. (NASDAQ:LPLA) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 117,907 shares of the financial services provider’s stock, valued at approximately $26,838,000.

Other hedge funds have also modified their holdings of the company. V Square Quantitative Management LLC boosted its position in LPL Financial by 9.9% during the third quarter. V Square Quantitative Management LLC now owns 522 shares of the financial services provider’s stock worth $124,000 after purchasing an additional 47 shares in the last quarter. Covestor Ltd lifted its position in shares of LPL Financial by 13.6% during the 3rd quarter. Covestor Ltd now owns 417 shares of the financial services provider’s stock valued at $99,000 after buying an additional 50 shares in the last quarter. First Horizon Advisors Inc. grew its stake in LPL Financial by 12.5% in the 3rd quarter. First Horizon Advisors Inc. now owns 496 shares of the financial services provider’s stock valued at $118,000 after acquiring an additional 55 shares during the period. Lido Advisors LLC increased its holdings in LPL Financial by 3.6% in the 3rd quarter. Lido Advisors LLC now owns 1,863 shares of the financial services provider’s stock worth $443,000 after acquiring an additional 64 shares in the last quarter. Finally, Sanchez Wealth Management Group raised its position in LPL Financial by 4.1% during the fourth quarter. Sanchez Wealth Management Group now owns 1,645 shares of the financial services provider’s stock worth $374,000 after acquiring an additional 65 shares during the period. 95.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their target price on shares of LPL Financial from $254.00 to $260.00 and gave the company a “neutral” rating in a research report on Tuesday, April 2nd. TD Cowen increased their target price on LPL Financial from $269.00 to $271.00 and gave the company a “hold” rating in a report on Wednesday. UBS Group lifted their price target on LPL Financial from $260.00 to $267.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. Barclays increased their price objective on 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 raised shares of LPL Financial from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $254.00 to $315.00 in a research note on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $276.20.

LPL Financial Price Performance

Shares of LPLA stock opened at $270.79 on Friday. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.77 and a quick ratio of 1.77. The company has a market capitalization of $20.23 billion, a PE ratio of 20.45, a price-to-earnings-growth ratio of 1.28 and a beta of 0.83. The firm’s 50-day moving average is $264.90 and its two-hundred day moving average is $243.15. LPL Financial Holdings Inc. has a 12 month low of $179.00 and a 12 month high of $276.12.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings results on Thursday, February 1st. The financial services provider reported $3.51 EPS for the quarter, beating the consensus estimate of $3.33 by $0.18. The firm had revenue of $2.64 billion for 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 business’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.21 EPS. Analysts predict that LPL Financial Holdings Inc. will post 15.63 earnings per share for the current year.

LPL Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend is Monday, May 20th. LPL Financial’s dividend payout ratio (DPR) is presently 9.06%.

Insider Transactions at LPL Financial

In related news, Director Kabir Sethi sold 1,300 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $266.50, for a total value of $346,450.00. Following the sale, the director now directly owns 10,245 shares in the company, valued at approximately $2,730,292.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Kabir Sethi sold 1,300 shares of LPL Financial stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $266.50, for a total value of $346,450.00. Following the completion of the sale, the director now owns 10,245 shares in the company, valued at approximately $2,730,292.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Dan H. Arnold sold 34,807 shares of the company’s stock in a transaction on Monday, February 26th. The stock was 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 in the company, valued at $37,798,037.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 60,151 shares of company stock worth $15,911,088. 1.30% of the stock is currently owned by company insiders.

LPL Financial 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.