Cumberland Partners Ltd Acquires 750 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Cumberland Partners Ltd lifted its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 37.5% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,750 shares of the financial services provider’s stock after purchasing an additional 750 shares during the period. Cumberland Partners Ltd’s holdings in LPL Financial were worth $626,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Smithfield Trust Co grew its holdings in shares of LPL Financial by 164.4% during the third quarter. Smithfield Trust Co now owns 119 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 74 shares during the last quarter. GAMMA Investing LLC acquired a new position in shares of LPL Financial during the fourth quarter valued at $30,000. Cary Street Partners Investment Advisory LLC lifted its stake in shares of LPL Financial by 770.0% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 261 shares of the financial services provider’s stock valued at $62,000 after acquiring an additional 231 shares during the period. Harvest Fund Management Co. Ltd lifted its stake in shares of LPL Financial by 724.2% during the third quarter. Harvest Fund Management Co. Ltd now owns 272 shares of the financial services provider’s stock valued at $65,000 after acquiring an additional 239 shares during the period. Finally, Tennessee Valley Asset Management Partners acquired a new position in shares of LPL Financial during the fourth quarter valued at $73,000. Institutional investors own 95.66% of the company’s stock.

LPL Financial Stock Down 0.3 %

LPLA stock traded down $0.74 during mid-day trading on Wednesday, reaching $266.16. The company had a trading volume of 164,397 shares, compared to its average volume of 522,649. LPL Financial Holdings Inc. has a 52 week low of $179.00 and a 52 week high of $274.35. The company has a market capitalization of $19.88 billion, a price-to-earnings ratio of 19.55, a PEG ratio of 1.28 and a beta of 0.84. The stock has a 50 day simple moving average of $263.14 and a two-hundred day simple moving average of $241.11. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.77 and a quick ratio of 1.77.

LPL Financial (NASDAQ:LPLA) last issued its earnings results on Thursday, February 1st. The financial services provider reported $3.51 EPS for the quarter, topping the consensus estimate of $3.33 by $0.18. LPL Financial had a return on equity of 57.68% and a net margin of 10.61%. The company had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same period in the previous year, the company posted $4.21 EPS. The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. As a group, equities analysts predict that LPL Financial Holdings Inc. will post 15.55 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Tuesday, March 12th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, March 11th. This represents a $1.20 annualized dividend and a dividend yield of 0.45%. LPL Financial’s dividend payout ratio is currently 8.79%.

Insider Transactions at LPL Financial

In related 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 sale, the chief executive officer now directly owns 137,044 shares in the company, valued at approximately $35,131,229.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Dan H. Arnold sold 10,000 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 137,044 shares in the company, valued at approximately $35,131,229.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Matthew Enyedi sold 1,381 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $256.94, for a total value of $354,834.14. Following the sale, the director now owns 8,634 shares of the company’s stock, valued at $2,218,419.96. The disclosure for this sale can be found here. In the last three months, insiders sold 60,151 shares of company stock worth $15,911,088. 1.00% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on LPLA shares. JPMorgan Chase & Co. increased their price target on LPL Financial from $254.00 to $260.00 and gave the stock a “neutral” rating in a report on Tuesday, April 2nd. JMP Securities increased their price objective on LPL Financial from $290.00 to $305.00 and gave the stock a “market outperform” rating in a report on Tuesday, April 9th. Raymond James assumed coverage on LPL Financial in a report on Thursday, April 4th. They set an “underperform” rating for the company. Barclays increased their price objective on LPL Financial from $302.00 to $312.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Finally, UBS Group increased their price objective on LPL Financial from $260.00 to $267.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $268.36.

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.