Walleye Capital LLC boosted its holdings in LPL Financial Holdings Inc. (NASDAQ: LPLA – Get Rating) by 130.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,765 shares of the financial services provider’s stock after acquiring an additional 3,829 shares during the quarter. Walleye Capital LLC’s holdings in LPL Financial were worth $ 1,083,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Advisor Group Holdings Inc. raised its position in LPL Financial by 5.1% in the fourth quarter. Advisor Group Holdings Inc. now owns 29,953 shares of the financial services provider’s stock worth $ 4,799,000 after acquiring an additional 1,448 shares in the last quarter. Atria Investments LLC raised its holdings in LPL Financial by 9.7% during the 4th quarter. Atria Investments LLC now owns 10,623 shares of the financial services provider’s stock worth $ 1,701,000 after buying an additional 936 shares during the period. Victory Capital Management Inc. raised its holdings in LPL Financial by 5.7% during the 4th quarter. Victory Capital Management Inc. now owns 981,643 shares of the financial services provider’s stock worth $ 157,151,000 after buying an additional 52,996 shares during the period. HighTower Advisors LLC raised its holdings in LPL Financial by 3.6% during the 4th quarter. HighTower Advisors LLC now owns 1,683 shares of the financial services provider’s stock worth $ 268,000 after buying an additional 58 shares during the period. Finally, First Republic Investment Management Inc. raised its holdings in LPL Financial by 23.8% during the 4th quarter. First Republic Investment Management Inc. now owns 8,856 shares of the financial services provider’s stock worth $ 1,418,000 after buying an additional 1,700 shares during the period. Hedge funds and other institutional investors own 96.06% of the company stock.
In other news, Director Michelle Oroschakoff sold 15,724 shares of the company stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $ 172.23, for a total transaction of $ 2,708,144.52. Following the completion of the transaction, the director now directly owns 42,068 shares in the company, valued at $ 7,245,371.64. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Dan H. Arnold sold 19,508 shares of the company stock in a transaction that occurred on Friday, May 27th. The stock was sold at an average price of $ 200.36, for a total value of $ 3,908,622.88. Following the transaction, the chief executive officer now owns 162,608 shares of the company stock, valued at $ 32,580,138.88. The disclosure for this sale can be found here. Insiders own 1.60% of the company stock.
LPLA has been the topic of several recent analyst reports. JMP Securities upgraded LPL Financial from a “market perform” rating to an “outperform” rating and set a $ 242.00 price objective on the stock in a report on Thursday, April 7th. Truist Financial upped their target price on LPL Financial from $ 200.00 to $ 230.00 in a report on Tuesday, May 3rd. Citigroup upped their target price on LPL Financial from $ 225.00 to $ 270.00 and gave the company a “buy” rating in a report on Thursday, April 14th. Morgan Stanley upped their target price on LPL Financial from $ 246.00 to $ 263.00 and gave the company an “overweight” rating in a report on Wednesday, April 13th. Finally, StockNews.com downgraded LPL Financial from a “hold” rating to a “sell” rating in a report on Monday, May 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $ 228.86.
Shares of NASDAQ LPLA opened at $ 185.39 on Friday. The stock has a market cap of $ 14.82 billion, a price-to-earnings ratio of 32.64, a PEG ratio of 0.50 and a beta of 0.95. The business has a 50 day simple moving average of $ 191.37 and a 200 day simple moving average of $ 178.56. LPL Financial Holdings Inc. has a 52 week low of $ 127.03 and a 52 week high of $ 220.80. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.83 and a current ratio of 1.83.
LPL Financial (NASDAQ: LPLA – Get Rating) last announced its quarterly earnings results on Thursday, April 28th. The financial services provider reported $ 1.95 EPS for the quarter, beating the consensus estimate of $ 1.79 by $ 0.16. The business had revenue of $ 2.07 billion during the quarter, compared to analysts’ expectations of $ 2.14 billion. LPL Financial had a return on equity of 35.82% and a net margin of 5.74%. The firm’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $ 1.77 EPS. On average, analysts predict that LPL Financial Holdings Inc. will post 9.69 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 24th. Investors of record on Thursday, June 9th will be paid a $ 0.25 dividend. The ex-dividend date is Wednesday, June 8th. This represents a $ 1.00 annualized dividend and a dividend yield of 0.54%. LPL Financial’s payout ratio is 17.61%.
LPL Financial Company Profile: (Get Rating)
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 financial institutions in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, retirement and education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and auction rate notes.
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