Prossimo Advisors LLC Acquires New Stake in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Prossimo Advisors LLC bought a new position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,235 shares of the financial services provider’s stock, valued at approximately $509,000.

Other institutional investors have also added to or reduced their stakes in the company. Commonwealth Equity Services LLC increased its position in shares of LPL Financial by 18.9% during the 3rd quarter. Commonwealth Equity Services LLC now owns 3,077 shares of the financial services provider’s stock valued at $731,000 after purchasing an additional 489 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in LPL Financial by 13.8% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 1,852 shares of the financial services provider’s stock valued at $440,000 after acquiring an additional 225 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its position in LPL Financial by 6.6% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 5,528 shares of the financial services provider’s stock worth $1,314,000 after acquiring an additional 341 shares during the last quarter. Mackenzie Financial Corp raised its holdings in LPL Financial by 14.3% during the 3rd quarter. Mackenzie Financial Corp now owns 9,599 shares of the financial services provider’s stock valued at $2,214,000 after buying an additional 1,201 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in LPL Financial by 6.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,794 shares of the financial services provider’s stock valued at $2,565,000 after purchasing an additional 691 shares during the period. 95.66% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at LPL Financial

In other LPL Financial news, CEO Dan H. Arnold sold 10,000 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $256.35, for a total value of $2,563,500.00. Following the transaction, the chief executive officer now directly owns 137,044 shares of the company’s stock, valued at approximately $35,131,229.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Dan H. Arnold sold 10,000 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $256.35, for a total value of $2,563,500.00. Following the transaction, the chief executive officer now directly owns 137,044 shares of the company’s stock, valued at approximately $35,131,229.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Matthew Enyedi sold 1,381 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $256.94, for a total value of $354,834.14. Following the completion of the sale, the director now owns 8,634 shares of the company’s stock, valued at $2,218,419.96. The disclosure for this sale can be found here. Insiders have sold 60,151 shares of company stock worth $15,911,088 over the last three months. Insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

LPLA has been the subject of several research reports. JPMorgan Chase & Co. increased their target price on LPL Financial from $254.00 to $260.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 2nd. Morgan Stanley raised shares of LPL Financial from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $254.00 to $315.00 in a research report on Tuesday, April 9th. JMP Securities restated a “market outperform” rating and issued a $305.00 price target on shares of LPL Financial in a research note on Wednesday, May 1st. Raymond James assumed coverage on LPL Financial in a research report on Thursday, April 4th. They issued an “underperform” rating for the company. Finally, Barclays raised their price objective on shares of LPL Financial from $302.00 to $312.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $276.20.

LPL Financial Trading Up 0.5 %

LPLA stock traded up $1.22 during trading on Friday, reaching $266.04. 259,534 shares of the stock were exchanged, compared to its average volume of 535,230. LPL Financial Holdings Inc. has a 1 year low of $186.35 and a 1 year high of $276.12. The firm has a market capitalization of $19.88 billion, a price-to-earnings ratio of 20.00, a P/E/G ratio of 1.08 and a beta of 0.83. The business has a 50 day moving average price of $264.93 and a 200-day moving average price of $244.23. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 1.70.

LPL Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date is Monday, May 20th. LPL Financial’s dividend payout ratio (DPR) is 9.06%.

LPL Financial Company 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.