Presidio Capital Management LLC Takes $761,000 Position in LPL Financial Holdings Inc. $LPLA

Presidio Capital Management LLC bought a new stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,286 shares of the financial services provider’s stock, valued at approximately $761,000.

A number of other hedge funds also recently bought and sold shares of the business. NewEdge Advisors LLC grew its stake in shares of LPL Financial by 42.7% in the 1st quarter. NewEdge Advisors LLC now owns 3,525 shares of the financial services provider’s stock worth $1,153,000 after buying an additional 1,055 shares in the last quarter. Goldman Sachs Group Inc. grew its position in LPL Financial by 0.5% in the first quarter. Goldman Sachs Group Inc. now owns 209,126 shares of the financial services provider’s stock worth $68,414,000 after acquiring an additional 1,089 shares in the last quarter. Woodline Partners LP bought a new stake in LPL Financial during the first quarter worth approximately $1,636,000. Focus Partners Wealth raised its position in LPL Financial by 12.2% during the first quarter. Focus Partners Wealth now owns 4,360 shares of the financial services provider’s stock valued at $1,426,000 after purchasing an additional 473 shares during the period. Finally, Acadian Asset Management LLC purchased a new position in shares of LPL Financial in the 1st quarter worth approximately $121,000. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Insider Buying and Selling

In other news, Director Aneri Jambusaria sold 80 shares of the firm’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $352.48, for a total transaction of $28,198.40. Following the transaction, the director owned 5,502 shares in the company, valued at approximately $1,939,344.96. This trade represents a 1.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Richard Steinmeier sold 5,058 shares of the company’s stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $370.99, for a total transaction of $1,876,467.42. Following the completion of the sale, the chief executive officer directly owned 9,326 shares of the company’s stock, valued at approximately $3,459,852.74. This trade represents a 35.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 5,888 shares of company stock valued at $2,182,893 over the last quarter. 1.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on LPLA shares. Jefferies Financial Group increased their price target on LPL Financial from $426.00 to $440.00 and gave the company a “buy” rating in a report on Friday, January 30th. Morgan Stanley reduced their target price on shares of LPL Financial from $462.00 to $447.00 and set an “overweight” rating on the stock in a research note on Monday, December 22nd. JPMorgan Chase & Co. raised their target price on shares of LPL Financial from $433.00 to $439.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. The Goldman Sachs Group reiterated a “buy” rating and set a $421.00 price target on shares of LPL Financial in a report on Friday, October 31st. Finally, Wolfe Research set a $478.00 price objective on shares of LPL Financial in a research report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, LPL Financial presently has an average rating of “Moderate Buy” and an average target price of $431.80.

LPL Financial Trading Up 1.4%

NASDAQ LPLA opened at $334.70 on Friday. The stock has a market cap of $26.79 billion, a PE ratio of 30.40, a PEG ratio of 0.74 and a beta of 0.58. LPL Financial Holdings Inc. has a 12 month low of $262.83 and a 12 month high of $403.58. The company’s 50-day moving average price is $368.07 and its 200-day moving average price is $357.32. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 1.49.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data on Thursday, January 29th. The financial services provider reported $5.23 earnings per share for the quarter, beating analysts’ consensus estimates of $4.82 by $0.41. The company had revenue of $4.93 billion during the quarter, compared to analyst estimates of $4.90 billion. LPL Financial had a net margin of 5.08% and a return on equity of 35.99%. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the business posted $4.25 EPS. Equities research analysts forecast that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 24th. Investors of record on Tuesday, March 10th will be issued a $0.30 dividend. The ex-dividend date is Tuesday, March 10th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.4%. LPL Financial’s payout ratio is presently 10.90%.

LPL Financial Company Profile

LPL Financial (NASDAQ: LPLA) is a U.S.-focused financial services firm that provides brokerage, custodial and advisory platforms to independent financial advisors, registered investment advisers and institutions. Operating primarily as an independent broker-dealer and custodian, the company supports a network of advisors with the operational, compliance and clearing infrastructure needed to manage client accounts and deliver investment advice outside of traditional wirehouse models.

The firm’s product and service offerings include trade execution and clearing, custody services, retirement plan services, model portfolio and advisory platforms, wealth management technology, investment research and product access across equities, fixed income, mutual funds, exchange-traded funds and insurance and annuity solutions.