LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Acquired by Avior Wealth Management LLC

Avior Wealth Management LLC raised its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 40.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,570 shares of the financial services provider’s stock after purchasing an additional 740 shares during the quarter. Avior Wealth Management LLC’s holdings in LPL Financial were worth $585,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of LPLA. Raymond James Financial Services Advisors Inc. lifted its position in shares of 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 worth $801,000 after purchasing an additional 1,181 shares during the last quarter. HighTower Advisors LLC raised its stake in LPL Financial by 29.1% during the first quarter. HighTower Advisors LLC now owns 2,172 shares of the financial services provider’s stock valued at $395,000 after buying an additional 489 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in LPL Financial by 21.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,392 shares of the financial services provider’s stock worth $802,000 after buying an additional 770 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of LPL Financial by 176.6% in the 1st quarter. Bank of Montreal Can now owns 6,549 shares of the financial services provider’s stock valued at $1,216,000 after acquiring an additional 4,181 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in shares of LPL Financial during the 1st quarter valued at approximately $58,000. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

LPL Financial Stock Performance

Shares of LPLA opened at $259.77 on Friday. LPL Financial Holdings Inc. has a 12-month low of $179.00 and a 12-month high of $274.35. The stock has a market capitalization of $19.40 billion, a P/E ratio of 19.03, a P/E/G ratio of 1.26 and a beta of 0.84. The firm’s 50 day moving average is $262.60 and its 200-day moving average is $240.60. 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 posted its quarterly earnings results on Thursday, February 1st. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.33 by $0.18. The company had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.55 billion. LPL Financial had a return on equity of 57.68% and a net margin of 10.61%. The firm’s revenue was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.21 earnings per share. Equities research analysts anticipate that LPL Financial Holdings Inc. will post 15.55 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Tuesday, March 12th were paid a $0.30 dividend. The ex-dividend date of this dividend was Monday, March 11th. This represents a $1.20 dividend on an annualized basis and a yield of 0.46%. LPL Financial’s dividend payout ratio is currently 8.79%.

Analysts Set New Price Targets

Several analysts have weighed in on LPLA shares. Raymond James started coverage on shares of LPL Financial in a research note on Thursday, April 4th. They set an “underperform” rating for the company. Morgan Stanley upgraded LPL Financial from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $254.00 to $315.00 in a research note on Tuesday, April 9th. Barclays increased their price target on LPL Financial from $302.00 to $312.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. TD Cowen boosted their price objective on LPL Financial from $266.00 to $269.00 and gave the company a “market perform” rating in a research report on Friday, March 22nd. Finally, JMP Securities increased their target price on LPL Financial from $290.00 to $305.00 and gave the stock a “market outperform” rating in a research report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $268.36.

Insider Buying and Selling

In other LPL Financial news, CEO Dan H. Arnold sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $256.35, for a total value of $2,563,500.00. Following the completion of the transaction, 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 filing with the SEC, which is accessible through this link. In related news, Director Kabir Sethi sold 1,300 shares of the stock in a transaction dated 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 directly owns 10,245 shares of the company’s stock, valued at approximately $2,730,292.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Dan H. Arnold sold 10,000 shares of LPL Financial stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $256.35, for a total value of $2,563,500.00. Following the transaction, the chief executive officer now directly owns 137,044 shares in the company, valued at approximately $35,131,229.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 60,151 shares of company stock valued at $15,911,088. 1.30% of the stock is owned by corporate insiders.

About LPL Financial

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.