B. Riley Wealth Advisors Inc. Grows Stock Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

B. Riley Wealth Advisors Inc. grew its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLAFree Report) by 63.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,211 shares of the financial services provider’s stock after purchasing an additional 858 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in LPL Financial were worth $525,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. First Manhattan Co. bought a new stake in shares of LPL Financial during the 4th quarter worth $27,000. Smithfield Trust Co lifted its holdings in shares of LPL Financial by 164.4% during the 3rd quarter. Smithfield Trust Co now owns 119 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 74 shares during the last quarter. Quarry LP lifted its holdings in shares of LPL Financial by 220.4% during the 2nd quarter. Quarry LP now owns 173 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 119 shares during the last quarter. Fred Alger Management LLC bought a new stake in shares of LPL Financial during the 3rd quarter worth $44,000. Finally, First Capital Advisors Group LLC. bought a new stake in shares of LPL Financial during the 2nd quarter worth $49,000. 92.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Barclays boosted their price target on shares of LPL Financial from $300.00 to $302.00 and gave the stock an “overweight” rating in a research note on Monday, February 26th. TD Cowen started coverage on shares of LPL Financial in a research note on Thursday, January 4th. They issued a “market perform” rating and a $224.00 price target for the company. Redburn Atlantic started coverage on shares of LPL Financial in a research note on Friday, December 1st. They set a “neutral” rating and a $240.00 price objective for the company. UBS Group upped their price objective on shares of LPL Financial from $260.00 to $267.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Finally, Morgan Stanley upped their price objective on shares of LPL Financial from $252.00 to $254.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 13th. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $255.64.

View Our Latest Stock Report on LPLA

LPL Financial Trading Down 0.3 %

NASDAQ:LPLA opened at $268.86 on Thursday. The company’s 50 day moving average price is $253.33 and its 200-day moving average price is $237.45. LPL Financial Holdings Inc. has a 52 week low of $179.00 and a 52 week high of $271.99. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 1.80. The stock has a market cap of $20.02 billion, a price-to-earnings ratio of 19.70, a PEG ratio of 0.80 and a beta of 0.85.

LPL Financial (NASDAQ:LPLAGet Free Report) last issued its quarterly earnings data on Thursday, February 1st. The financial services provider reported $3.51 earnings per share for the quarter, beating analysts’ consensus estimates of $3.33 by $0.18. LPL Financial had a net margin of 10.61% and a return on equity of 57.68%. The company had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter in the prior year, the firm earned $4.21 earnings per share. The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. On average, equities research analysts forecast that LPL Financial Holdings Inc. will post 15.87 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

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

Insider Activity at LPL Financial

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

About LPL Financial

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for LPL Financial (NASDAQ:LPLA)

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