Raymond James Trust N.A. Grows Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Raymond James Trust N.A. boosted its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLAFree Report) by 1.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,762 shares of the financial services provider’s stock after purchasing an additional 100 shares during the period. Raymond James Trust N.A.’s holdings in LPL Financial were worth $1,312,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of LPLA. Raymond James Financial Services Advisors Inc. lifted its position in LPL Financial by 36.9% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 4,383 shares of the financial services provider’s stock valued at $801,000 after purchasing an additional 1,181 shares in the last quarter. HighTower Advisors LLC boosted its stake in shares of LPL Financial by 29.1% in the first quarter. HighTower Advisors LLC now owns 2,172 shares of the financial services provider’s stock worth $395,000 after acquiring an additional 489 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of LPL Financial by 21.3% in the first quarter. PNC Financial Services Group Inc. now owns 4,392 shares of the financial services provider’s stock worth $802,000 after acquiring an additional 770 shares during the period. Bank of Montreal Can boosted its stake in shares of LPL Financial by 176.6% in the first quarter. Bank of Montreal Can now owns 6,549 shares of the financial services provider’s stock worth $1,216,000 after acquiring an additional 4,181 shares during the period. Finally, Acadian Asset Management LLC bought a new position in shares of LPL Financial in the first quarter worth about $58,000. 92.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at LPL Financial

In other news, CEO Dan H. Arnold sold 10,000 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 137,044 shares in the company, valued at $35,131,229.40. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Dan H. Arnold sold 10,000 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 137,044 shares in the company, valued at $35,131,229.40. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Kabir Sethi sold 1,300 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $266.50, for a total value of $346,450.00. Following the completion of the sale, the director now owns 10,245 shares in the company, valued at $2,730,292.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 60,151 shares of company stock worth $15,911,088. 1.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

View Our Latest Research Report on LPL Financial

LPL Financial Trading Up 1.8 %

Shares of LPLA stock opened at $273.77 on Friday. LPL Financial Holdings Inc. has a 1 year low of $179.00 and a 1 year high of $274.35. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.77 and a quick ratio of 1.77. The stock’s 50 day simple moving average is $254.14 and its two-hundred day simple moving average is $237.70. The company has a market cap of $20.38 billion, a PE ratio of 20.06, a price-to-earnings-growth ratio of 0.79 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 (EPS) for the quarter, beating analysts’ consensus estimates of $3.33 by $0.18. LPL Financial had a return on equity of 57.68% and a net margin of 10.61%. The business had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.55 billion. During the same period in the prior year, the business posted $4.21 earnings per share. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. Research analysts predict that LPL Financial Holdings Inc. will post 15.87 earnings per share for the current year.

LPL Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 26th. Shareholders of record on Tuesday, March 12th will be given a dividend of $0.30 per share. The ex-dividend date is Monday, March 11th. This represents a $1.20 dividend on an annualized basis and a yield of 0.44%. LPL Financial’s dividend payout ratio (DPR) is presently 8.79%.

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.

See Also

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

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