LPL Financial Holdings Inc (LPLA) Position Raised by Calamos Advisors LLC
Calamos Advisors LLC lifted its holdings in shares of LPL Financial Holdings Inc (NASDAQ:LPLA) by 58.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,340 shares of the financial services provider’s stock after buying an additional 3,800 shares during the period. Calamos Advisors LLC’s holdings in LPL Financial were worth $720,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. CWM LLC boosted its position in LPL Financial by 66.7% in the fourth quarter. CWM LLC now owns 445 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 178 shares during the last quarter. Contravisory Investment Management Inc. raised its position in shares of LPL Financial by 5.6% in the 4th quarter. Contravisory Investment Management Inc. now owns 3,161 shares of the financial services provider’s stock worth $193,000 after acquiring an additional 168 shares in the last quarter. AlphaCrest Capital Management LLC bought a new position in shares of LPL Financial in the 4th quarter worth $208,000. First Hawaiian Bank raised its position in shares of LPL Financial by 61.2% in the 1st quarter. First Hawaiian Bank now owns 3,770 shares of the financial services provider’s stock worth $263,000 after acquiring an additional 1,431 shares in the last quarter. Finally, Silverleafe Capital Partners LLC bought a new position in shares of LPL Financial in the 1st quarter worth $268,000. 93.97% of the stock is currently owned by institutional investors.
In other news, insider Thomas Gooley sold 43,440 shares of the company’s stock in a transaction dated Monday, February 4th. The stock was sold at an average price of $74.83, for a total value of $3,250,615.20. Following the sale, the insider now owns 41,868 shares in the company, valued at $3,132,982.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Dan H. Arnold sold 36,774 shares of the company’s stock in a transaction dated Wednesday, January 16th. The stock was sold at an average price of $70.00, for a total value of $2,574,180.00. Following the completion of the sale, the chief executive officer now owns 269,761 shares in the company, valued at approximately $18,883,270. The disclosure for this sale can be found here. In the last quarter, insiders have sold 165,526 shares of company stock worth $12,316,588. Company insiders own 2.20% of the company’s stock.
LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings results on Thursday, January 31st. The financial services provider reported $1.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.37 by $0.12. The business had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.36 billion. LPL Financial had a return on equity of 46.58% and a net margin of 8.47%. On average, research analysts forecast that LPL Financial Holdings Inc will post 6.53 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.00 annualized dividend and a yield of 1.37%. LPL Financial’s payout ratio is presently 18.76%.
Several research analysts recently issued reports on the company. BidaskClub lowered LPL Financial from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Zacks Investment Research raised LPL Financial from a “hold” rating to a “buy” rating and set a $87.00 target price on the stock in a research report on Wednesday, February 13th. Goldman Sachs Group lowered LPL Financial from a “conviction-buy” rating to a “buy” rating in a research report on Tuesday, April 2nd. Compass Point assumed coverage on LPL Financial in a research report on Monday, March 11th. They set a “buy” rating and a $82.00 target price on the stock. Finally, ValuEngine raised LPL Financial from a “sell” rating to a “hold” rating in a research report on Monday, December 31st. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $81.22.
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LPL Financial 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 financial institutions in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, retirement and 529 education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and business development companies.
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