SRS Capital Advisors Inc. Trims Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

SRS Capital Advisors Inc. lowered its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 26.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 142 shares of the financial services provider’s stock after selling 52 shares during the quarter. SRS Capital Advisors Inc.’s holdings in LPL Financial were worth $32,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Smithfield Trust Co grew its stake in shares of LPL Financial by 164.4% in the 3rd 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 last quarter. GAMMA Investing LLC purchased a new position in LPL Financial in the 4th quarter valued at $30,000. Cary Street Partners Investment Advisory LLC increased its stake in LPL Financial by 770.0% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 261 shares of the financial services provider’s stock valued at $62,000 after buying an additional 231 shares during the period. Harvest Fund Management Co. Ltd raised its position in LPL Financial by 724.2% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 272 shares of the financial services provider’s stock worth $65,000 after buying an additional 239 shares during the last quarter. Finally, Tennessee Valley Asset Management Partners purchased a new position in LPL Financial during the 4th quarter worth $73,000. Institutional investors and hedge funds own 95.66% of the company’s stock.

Insider Transactions at LPL Financial

In other news, CEO Dan H. Arnold sold 10,000 shares of the business’s 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 completion of the transaction, the chief executive officer now directly owns 137,044 shares of the company’s stock, valued at $35,131,229.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Dan H. Arnold sold 34,807 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $266.54, for a total transaction of $9,277,457.78. Following the transaction, the chief executive officer now owns 141,810 shares of the company’s stock, valued at $37,798,037.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Dan H. Arnold sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $256.35, for a total transaction of $2,563,500.00. Following the sale, the chief executive officer now owns 137,044 shares in the company, valued at approximately $35,131,229.40. The disclosure for this sale can be found here. Insiders sold a total of 60,151 shares of company stock valued at $15,911,088 in the last ninety days. Corporate insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on LPLA shares. Morgan Stanley upgraded shares of LPL Financial from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $254.00 to $315.00 in a research note on Tuesday, April 9th. Barclays raised their price target on LPL Financial from $302.00 to $312.00 and gave the company an “overweight” rating in a report on Monday, April 8th. TD Cowen lifted their price target on LPL Financial from $269.00 to $271.00 and gave the company a “hold” rating in a research note on Wednesday. UBS Group increased their price objective on LPL Financial from $260.00 to $267.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Finally, Raymond James began coverage on shares of LPL Financial in a research report on Thursday, April 4th. They set an “underperform” rating on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $276.20.

LPL Financial Stock Up 0.5 %

LPL Financial stock opened at $270.79 on Friday. LPL Financial Holdings Inc. has a fifty-two week low of $179.00 and a fifty-two week high of $276.12. The firm has a market capitalization of $20.23 billion, a price-to-earnings ratio of 20.45, a price-to-earnings-growth ratio of 1.08 and a beta of 0.83. The stock’s fifty day moving average is $264.90 and its two-hundred day moving average is $243.19. 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 (NASDAQ:LPLA) last issued 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 firm had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.55 billion. LPL Financial had a net margin of 9.71% and a return on equity of 56.36%. The firm’s revenue was up 13.3% on a year-over-year basis. During the same period in the prior year, the company earned $4.21 EPS. Analysts predict that LPL Financial Holdings Inc. will post 15.82 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st will be given a $0.30 dividend. The ex-dividend date of this dividend is Monday, May 20th. This represents a $1.20 annualized dividend and a dividend yield of 0.44%. LPL Financial’s dividend payout ratio is presently 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.