Peak Financial Advisors LLC Has $1.78 Million Stock Holdings in LPL Financial Holdings Inc. $LPLA

Peak Financial Advisors LLC lifted its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 159.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,996 shares of the financial services provider’s stock after purchasing an additional 3,072 shares during the quarter. Peak Financial Advisors LLC’s holdings in LPL Financial were worth $1,784,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Curated Wealth Partners LLC bought a new stake in LPL Financial during the 4th quarter worth about $243,000. Thrive Wealth Management LLC increased its position in LPL Financial by 8.1% in the 4th quarter. Thrive Wealth Management LLC now owns 1,570 shares of the financial services provider’s stock valued at $561,000 after acquiring an additional 118 shares in the last quarter. DAVENPORT & Co LLC raised its stake in shares of LPL Financial by 11.3% in the fourth quarter. DAVENPORT & Co LLC now owns 2,411 shares of the financial services provider’s stock worth $861,000 after acquiring an additional 245 shares during the last quarter. E. Ohman J or Asset Management AB raised its stake in shares of LPL Financial by 38.9% in the fourth quarter. E. Ohman J or Asset Management AB now owns 2,916 shares of the financial services provider’s stock worth $1,042,000 after acquiring an additional 816 shares during the last quarter. Finally, KWB Wealth lifted its position in shares of LPL Financial by 0.6% during the fourth quarter. KWB Wealth now owns 28,624 shares of the financial services provider’s stock worth $10,224,000 after purchasing an additional 179 shares in the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

LPL Financial Stock Up 0.2%

Shares of NASDAQ:LPLA opened at $300.68 on Thursday. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.45 and a quick ratio of 2.45. The stock has a market cap of $24.11 billion, a price-to-earnings ratio of 27.31, a P/E/G ratio of 0.66 and a beta of 0.59. The company has a 50 day moving average of $333.75 and a 200-day moving average of $345.91. LPL Financial Holdings Inc. has a one year low of $262.83 and a one year high of $403.58.

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 the consensus estimate of $4.82 by $0.41. LPL Financial had a net margin of 5.08% and a return on equity of 34.19%. The business had revenue of $4.93 billion for the quarter, compared to analyst estimates of $4.90 billion. During the same period in the prior year, the business posted $4.25 earnings per share. LPL Financial’s revenue was up 8.4% compared to the same quarter last year. On average, sell-side analysts forecast that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 24th. Stockholders of record on Tuesday, March 10th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Tuesday, March 10th. LPL Financial’s dividend payout ratio (DPR) is currently 10.90%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Barclays decreased their price target on shares of LPL Financial from $444.00 to $434.00 and set an “overweight” rating on the stock in a research note on Friday, January 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LPL Financial in a report on Wednesday, January 28th. Wolfe Research set a $478.00 price objective on LPL Financial in a research report on Friday, January 30th. UBS Group set a $500.00 target price on LPL Financial in a research note on Tuesday, February 3rd. Finally, Jefferies Financial Group boosted their target price on LPL Financial from $426.00 to $440.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $428.71.

Insider Transactions at LPL Financial

In other LPL Financial news, Director Matthew Enyedi sold 2,109 shares of the stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $320.15, for a total value of $675,196.35. Following the transaction, the director owned 14,121 shares of the company’s stock, valued at approximately $4,520,838.15. This represents a 12.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Marc Eliot Cohen sold 2,212 shares of the firm’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $308.75, for a total value of $682,955.00. Following the transaction, the director owned 5,488 shares in the company, valued at approximately $1,694,420. This trade represents a 28.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 6,990 shares of company stock worth $2,201,837 in the last three months. Insiders own 1.30% of the company’s stock.

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.