Tobam Purchases 1,895 Shares of LPL Financial Holdings Inc. $LPLA

Tobam boosted its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 16.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,648 shares of the financial services provider’s stock after buying an additional 1,895 shares during the period. LPL Financial comprises 1.7% of Tobam’s portfolio, making the stock its 20th largest holding. Tobam’s holdings in LPL Financial were worth $4,541,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in LPLA. Osterweis Capital Management Inc. bought a new stake in LPL Financial in the second quarter valued at about $26,000. SBI Securities Co. Ltd. boosted its holdings in LPL Financial by 116.2% during the second quarter. SBI Securities Co. Ltd. now owns 80 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 43 shares in the last quarter. Chung Wu Investment Group LLC bought a new stake in shares of LPL Financial in the 3rd quarter valued at approximately $27,000. SJS Investment Consulting Inc. raised its holdings in shares of LPL Financial by 912.5% in the 3rd quarter. SJS Investment Consulting Inc. now owns 81 shares of the financial services provider’s stock worth $27,000 after buying an additional 73 shares in the last quarter. Finally, Eastern Bank lifted its position in shares of LPL Financial by 72.0% during the 3rd quarter. Eastern Bank now owns 86 shares of the financial services provider’s stock worth $29,000 after buying an additional 36 shares during the period. Institutional investors and hedge funds own 95.66% of the company’s stock.

Insider Buying and Selling

In other LPL Financial news, Director Aneri Jambusaria sold 80 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $352.48, for a total transaction of $28,198.40. Following the transaction, the director directly owned 5,502 shares in the company, valued at approximately $1,939,344.96. This represents a 1.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Greg Gates sold 750 shares of LPL Financial stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $370.97, for a total transaction of $278,227.50. Following the sale, the director owned 14,620 shares of the company’s stock, valued at approximately $5,423,581.40. This represents a 4.88% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 5,888 shares of company stock worth $2,182,893 over the last three months. 0.70% of the stock is currently owned by company insiders.

LPL Financial Trading Up 1.4%

LPLA opened at $334.70 on Monday. LPL Financial Holdings Inc. has a 1-year low of $262.83 and a 1-year high of $403.58. The stock has a market capitalization of $26.79 billion, a PE ratio of 30.40, a PEG ratio of 0.74 and a beta of 0.58. 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 firm has a 50-day moving average price of $368.07 and a two-hundred day moving average price of $357.03.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings results on Thursday, January 29th. The financial services provider reported $5.23 EPS 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 35.99%. The business had revenue of $4.93 billion for the quarter, compared to analysts’ expectations of $4.90 billion. During the same period in the prior year, the firm earned $4.25 earnings per share. LPL Financial’s revenue was up 8.4% compared to the same quarter last year. As a group, equities analysts anticipate that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

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

Wall Street Analysts Forecast Growth

LPLA has been the subject of several recent analyst reports. Wolfe Research set a $478.00 price objective on LPL Financial in a research note on Friday, January 30th. UBS Group set a $500.00 target price on shares of LPL Financial in a research report on Tuesday, February 3rd. Morgan Stanley reduced their price target on shares of LPL Financial from $462.00 to $447.00 and set an “overweight” rating on the stock in a research report on Monday, December 22nd. Jefferies Financial Group raised their price objective on shares of LPL Financial from $426.00 to $440.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Finally, JMP Securities set a $475.00 target price on shares of LPL Financial in a research note on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $431.80.

LPL Financial 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.