Foster Victor Wealth Advisors LLC Acquires 6,184 Shares of LPL Financial Holdings Inc. $LPLA

Foster Victor Wealth Advisors LLC grew its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 11.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 61,831 shares of the financial services provider’s stock after acquiring an additional 6,184 shares during the quarter. LPL Financial comprises 1.2% of Foster Victor Wealth Advisors LLC’s investment portfolio, making the stock its 20th largest position. Foster Victor Wealth Advisors LLC owned about 0.08% of LPL Financial worth $19,460,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. CGN Advisors LLC raised its stake in LPL Financial by 1.7% in the third quarter. CGN Advisors LLC now owns 6,958 shares of the financial services provider’s stock valued at $2,315,000 after purchasing an additional 114 shares in the last quarter. Baker Tilly Wealth Management LLC increased its holdings in shares of LPL Financial by 25.3% in the 3rd quarter. Baker Tilly Wealth Management LLC now owns 915 shares of the financial services provider’s stock worth $304,000 after buying an additional 185 shares during the last quarter. Lifestyle Asset Management Inc. increased its holdings in shares of LPL Financial by 6.9% in the 3rd quarter. Lifestyle Asset Management Inc. now owns 1,157 shares of the financial services provider’s stock worth $385,000 after buying an additional 75 shares during the last quarter. Shelton Wealth Management LLC raised its position in shares of LPL Financial by 9.6% during the 3rd quarter. Shelton Wealth Management LLC now owns 3,428 shares of the financial services provider’s stock valued at $1,140,000 after buying an additional 299 shares in the last quarter. Finally, Peak Financial Advisors LLC lifted its holdings in shares of LPL Financial by 56.2% during the 3rd quarter. Peak Financial Advisors LLC now owns 1,924 shares of the financial services provider’s stock worth $640,000 after acquiring an additional 692 shares during the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on LPLA shares. Citizens Jmp upped their target price on shares of LPL Financial from $455.00 to $475.00 and gave the stock a “market outperform” rating in a research report on Friday, October 31st. Barclays upped their price objective on LPL Financial from $420.00 to $453.00 and gave the stock an “overweight” rating in a report on Friday, December 12th. Citigroup reissued an “outperform” rating on shares of LPL Financial in a report on Friday, October 31st. Raymond James Financial upgraded LPL Financial from an “underperform” rating to a “market perform” rating in a research report on Thursday, October 9th. Finally, Rothschild & Co Redburn cut shares of LPL Financial from a “buy” rating to a “neutral” rating and set a $390.00 price target on the stock. in a research report on Friday, September 19th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $427.86.

LPL Financial Stock Up 2.8%

LPLA opened at $362.46 on Friday. LPL Financial Holdings Inc. has a 12 month low of $262.83 and a 12 month high of $403.58. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 1.49. The business’s 50-day moving average price is $357.48 and its 200-day moving average price is $360.06. The company has a market cap of $29.01 billion, a P/E ratio of 33.38, a P/E/G ratio of 0.90 and a beta of 0.60.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings results on Thursday, October 30th. The financial services provider reported $5.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.49 by $0.71. The business had revenue of $4.55 billion for the quarter, compared to analyst estimates of $4.08 billion. LPL Financial had a return on equity of 36.80% and a net margin of 5.35%.LPL Financial’s revenue for the quarter was up 46.4% compared to the same quarter last year. During the same period last year, the company earned $4.16 EPS. On average, equities analysts expect that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Thursday, November 13th were issued a $0.30 dividend. The ex-dividend date was Thursday, November 13th. This represents a $1.20 annualized dividend and a dividend yield of 0.3%. LPL Financial’s dividend payout ratio (DPR) is currently 11.05%.

Insider Buying and Selling

In related news, Director Greg Gates sold 1,500 shares of the company’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $376.43, for a total transaction of $564,645.00. Following the completion of the sale, the director directly owned 15,370 shares in the company, valued at $5,785,729.10. This represents a 8.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Richard Steinmeier sold 5,058 shares of the stock in a transaction on Friday, December 5th. The shares were sold at an average price of $370.99, for a total transaction of $1,876,467.42. Following the sale, the chief executive officer directly owned 9,326 shares of the company’s stock, valued at $3,459,852.74. The trade was a 35.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 8,138 shares of company stock valued at $2,983,353 over the last three months. 1.30% of the stock is owned by company insiders.

About LPL Financial

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.