LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Bought by Cumberland Partners Ltd

Cumberland Partners Ltd boosted its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 37.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,750 shares of the financial services provider’s stock after purchasing an additional 750 shares during the period. Cumberland Partners Ltd’s holdings in LPL Financial were worth $626,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Smithfield Trust Co lifted its position in LPL Financial by 164.4% during the third quarter. Smithfield Trust Co now owns 119 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 74 shares during the period. GAMMA Investing LLC acquired a new position in LPL Financial during the fourth quarter valued at $30,000. Cary Street Partners Investment Advisory LLC lifted its position in LPL Financial by 770.0% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 261 shares of the financial services provider’s stock valued at $62,000 after purchasing an additional 231 shares during the period. Harvest Fund Management Co. Ltd lifted its position in LPL Financial by 724.2% during the third quarter. Harvest Fund Management Co. Ltd now owns 272 shares of the financial services provider’s stock valued at $65,000 after purchasing an additional 239 shares during the period. Finally, Tennessee Valley Asset Management Partners purchased a new position in LPL Financial in the fourth quarter valued at $73,000. 95.66% of the stock is currently owned by institutional investors and hedge funds.

LPL Financial Price Performance

Shares of LPLA stock traded down $0.74 on Wednesday, reaching $266.16. 164,397 shares of the company were exchanged, compared to its average volume of 522,649. The company has a market cap of $19.88 billion, a price-to-earnings ratio of 19.55, a P/E/G ratio of 1.28 and a beta of 0.84. The business has a 50-day moving average price of $263.14 and a 200 day moving average price of $241.11. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.77 and a current ratio of 1.77. LPL Financial Holdings Inc. has a 1 year low of $179.00 and a 1 year high of $274.35.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings data on Thursday, February 1st. The financial services provider reported $3.51 EPS for the quarter, beating analysts’ consensus estimates of $3.33 by $0.18. The company had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.55 billion. LPL Financial had a net margin of 10.61% and a return on equity of 57.68%. LPL Financial’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.21 EPS. Equities research analysts forecast that LPL Financial Holdings Inc. will post 15.55 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Tuesday, March 12th were issued a $0.30 dividend. The ex-dividend date of this dividend was Monday, March 11th. This represents a $1.20 dividend on an annualized basis and a yield of 0.45%. LPL Financial’s payout ratio is 8.79%.

Analysts Set New Price Targets

LPLA has been the subject of a number of recent analyst reports. Barclays lifted their price objective on shares of LPL Financial from $302.00 to $312.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Morgan Stanley raised shares of LPL Financial from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $254.00 to $315.00 in a report on Tuesday, April 9th. JPMorgan Chase & Co. lifted their price objective on shares of LPL Financial from $254.00 to $260.00 and gave the company a “neutral” rating in a report on Tuesday, April 2nd. TD Cowen lifted their price objective on shares of LPL Financial from $266.00 to $269.00 and gave the company a “market perform” rating in a report on Friday, March 22nd. Finally, UBS Group lifted their price objective on shares of LPL Financial from $260.00 to $267.00 and gave the company a “neutral” rating in a report on Wednesday, February 14th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $268.36.

Insider Buying and Selling at LPL Financial

In other LPL Financial news, CEO Dan H. Arnold sold 34,807 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 141,810 shares in the company, valued at approximately $37,798,037.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Dan H. Arnold sold 34,807 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 141,810 shares of the company’s stock, valued at approximately $37,798,037.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Matthew J. Audette sold 5,574 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $266.52, for a total transaction of $1,485,582.48. Following the completion of the sale, the chief financial officer now directly owns 13,663 shares of the company’s stock, valued at approximately $3,641,462.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 60,151 shares of company stock worth $15,911,088. Insiders own 1.00% of the company’s stock.

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.