State Street Corp raised its position in shares of LPL Financial Holdings Inc (NASDAQ:LPLA) by 1.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,184,737 shares of the company’s stock after buying an additional 20,324 shares during the period. State Street Corp’s holdings in LPL Financial Holdings were worth $41,715,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of LPLA. Cadence Capital Management LLC raised its position in LPL Financial Holdings by 6.5% in the fourth quarter. Cadence Capital Management LLC now owns 11,092 shares of the company’s stock worth $391,000 after buying an additional 679 shares in the last quarter. Efficient Advisors LLC acquired a new position in LPL Financial Holdings during the third quarter worth approximately $4,961,000. TLP Group LLC acquired a new position in LPL Financial Holdings during the third quarter worth approximately $164,000. Partners Capital Investment Group Holdings LLC raised its position in LPL Financial Holdings by 1.9% in the third quarter. Partners Capital Investment Group Holdings LLC now owns 357,951 shares of the company’s stock worth $10,706,000 after buying an additional 6,582 shares in the last quarter. Finally, BOKF NA raised its position in LPL Financial Holdings by 4.3% in the third quarter. BOKF NA now owns 9,522 shares of the company’s stock worth $285,000 after buying an additional 395 shares in the last quarter.
LPL Financial Holdings Inc (NASDAQ:LPLA) opened at 41.03 on Tuesday. The stock’s 50 day moving average is $39.81 and its 200-day moving average is $35.68. The firm has a market capitalization of $3.66 billion, a price-to-earnings ratio of 19.26 and a beta of 1.85. LPL Financial Holdings Inc has a 52 week low of $20.51 and a 52 week high of $42.86.
LPL Financial Holdings (NASDAQ:LPLA) last released its quarterly earnings data on Thursday, February 9th. The company reported $0.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.10. LPL Financial Holdings had a net margin of 4.74% and a return on equity of 25.39%. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter last year, the company earned $0.28 EPS. The company’s revenue for the quarter was down 1.3% compared to the same quarter last year. On average, equities research analysts expect that LPL Financial Holdings Inc will post $2.25 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 24th. Investors of record on Friday, March 10th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, March 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.44%. LPL Financial Holdings’s dividend payout ratio (DPR) is presently 46.95%.
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A number of research firms have commented on LPLA. Goldman Sachs Group Inc began coverage on shares of LPL Financial Holdings in a research note on Monday. They issued a “conviction-buy” rating and a $47.00 price objective on the stock. SunTrust Banks, Inc. restated a “hold” rating and issued a $42.00 price objective on shares of LPL Financial Holdings in a research note on Friday. Finally, Zacks Investment Research upgraded shares of LPL Financial Holdings from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a research note on Thursday, January 12th. One research analyst has rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and two have issued a strong buy rating to the company’s stock. LPL Financial Holdings currently has an average rating of “Hold” and an average price target of $33.66.
In related news, Director Mark S. Casady sold 365,213 shares of the stock in a transaction dated Wednesday, February 15th. The shares were sold at an average price of $40.76, for a total value of $14,886,081.88. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Marco Hellman sold 900,000 shares of the stock in a transaction dated Monday, February 13th. The stock was sold at an average price of $40.00, for a total transaction of $36,000,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,615,952 shares of company stock worth $65,039,461. Corporate insiders own 5.70% of the company’s stock.
LPL Financial Holdings Company Profile
LPL Financial Holdings Inc is a broker-dealer, a custodian for registered investment advisors (RIAs) and an independent consultant to retirement plans. The Company provides a platform of brokerage and investment advisory services to independent financial advisors (its advisors), including financial advisors at approximately 700 financial institutions across the country.
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