Caldwell Trust Co Buys New Position in LPL Financial Holdings Inc. $LPLA

Caldwell Trust Co purchased a new stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 8,138 shares of the financial services provider’s stock, valued at approximately $3,052,000.

A number of other large investors have also modified their holdings of LPLA. Vanguard Group Inc. raised its holdings in shares of LPL Financial by 8.3% in the second quarter. Vanguard Group Inc. now owns 7,986,766 shares of the financial services provider’s stock worth $2,994,798,000 after buying an additional 613,909 shares during the last quarter. Boston Partners raised its stake in LPL Financial by 4.7% in the 2nd quarter. Boston Partners now owns 3,679,484 shares of the financial services provider’s stock worth $1,379,598,000 after acquiring an additional 165,201 shares during the last quarter. Dodge & Cox lifted its position in LPL Financial by 77.3% during the 2nd quarter. Dodge & Cox now owns 2,701,709 shares of the financial services provider’s stock worth $1,013,060,000 after acquiring an additional 1,178,249 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its stake in LPL Financial by 0.8% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,681,617 shares of the financial services provider’s stock valued at $877,264,000 after purchasing an additional 20,881 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in LPL Financial by 61.1% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,442,182 shares of the financial services provider’s stock valued at $915,745,000 after purchasing an additional 926,122 shares during the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Rothschild Redb cut LPL Financial from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 19th. TD Cowen increased their price target on shares of LPL Financial from $356.00 to $410.00 and gave the stock a “hold” rating in a report on Monday, November 3rd. Rothschild & Co Redburn cut shares of LPL Financial from a “buy” rating to a “neutral” rating and set a $390.00 price objective for the company. in a research note on Friday, September 19th. Citigroup reissued an “outperform” rating on shares of LPL Financial in a report on Friday, October 31st. Finally, Raymond James Financial raised LPL Financial from an “underperform” rating to a “market perform” rating in a research report on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, LPL Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $427.86.

LPL Financial Stock Down 1.7%

LPLA stock opened at $380.96 on Monday. LPL Financial Holdings Inc. has a one year low of $262.83 and a one year high of $403.58. The company has a debt-to-equity ratio of 1.49, a quick ratio of 2.60 and a current ratio of 2.60. The firm’s fifty day moving average is $353.19 and its 200 day moving average is $360.69. The firm has a market cap of $30.49 billion, a PE ratio of 35.08, a P/E/G ratio of 0.95 and a beta of 0.60.

LPL Financial (NASDAQ:LPLA) last announced its earnings results on Thursday, October 30th. The financial services provider reported $5.20 EPS for the quarter, beating analysts’ consensus estimates of $4.49 by $0.71. LPL Financial had a return on equity of 36.80% and a net margin of 5.35%.The business had revenue of $4.55 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter in the prior year, the firm earned $4.16 earnings per share. The business’s revenue was up 46.4% compared to the same quarter last year. On average, research analysts forecast that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Thursday, November 13th were issued a $0.30 dividend. The ex-dividend date was Thursday, November 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.3%. LPL Financial’s payout ratio is 11.05%.

Insiders Place Their Bets

In other LPL Financial news, Director Greg Gates sold 750 shares of the company’s stock in a transaction on Friday, December 5th. The shares were sold at an average price of $370.97, for a total transaction of $278,227.50. Following the completion of the transaction, the director owned 14,620 shares in the company, valued at approximately $5,423,581.40. This represents a 4.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Aneri Jambusaria sold 80 shares of LPL Financial stock in a transaction on Monday, December 1st. The stock was sold at an average price of $352.48, for a total value of $28,198.40. Following the transaction, the director directly owned 5,502 shares of the company’s stock, valued at approximately $1,939,344.96. This represents a 1.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 8,138 shares of company stock worth $2,983,353 in the last quarter. 0.70% of the stock is owned by company insiders.

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.