International Assets Investment Management LLC Buys Shares of 117,907 LPL Financial Holdings Inc. (NASDAQ:LPLA)

International Assets Investment Management LLC purchased a new position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 117,907 shares of the financial services provider’s stock, valued at approximately $26,838,000. International Assets Investment Management LLC owned about 0.16% of LPL Financial at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of LPLA. Massachusetts Financial Services Co. MA increased its holdings in LPL Financial by 1,732.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 568,292 shares of the financial services provider’s stock worth $135,055,000 after acquiring an additional 537,272 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in shares of LPL Financial by 358.2% in the third quarter. Canada Pension Plan Investment Board now owns 456,990 shares of the financial services provider’s stock worth $108,604,000 after purchasing an additional 357,245 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of LPL Financial by 524.9% in the third quarter. Ameriprise Financial Inc. now owns 273,140 shares of the financial services provider’s stock worth $64,912,000 after purchasing an additional 229,434 shares in the last quarter. HM Payson & Co. bought a new stake in shares of LPL Financial during the 3rd quarter valued at $54,406,000. Finally, Markel Group Inc. lifted its stake in shares of LPL Financial by 137.1% during the 3rd quarter. Markel Group Inc. now owns 301,264 shares of the financial services provider’s stock valued at $71,595,000 after buying an additional 174,205 shares in the last quarter. Institutional investors own 95.66% of the company’s stock.

LPL Financial Trading Up 0.5 %

LPLA opened at $270.79 on Friday. LPL Financial Holdings Inc. has a 12 month low of $179.00 and a 12 month high of $276.12. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 1.80. The stock has a 50-day moving average of $264.90 and a 200 day moving average of $243.15. The firm has a market cap of $20.23 billion, a P/E ratio of 20.45, a P/E/G ratio of 1.28 and a beta of 0.83.

LPL Financial (NASDAQ:LPLA) last released its earnings results on Thursday, February 1st. The financial services provider reported $3.51 earnings per share for the quarter, beating the consensus estimate of $3.33 by $0.18. The firm had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.55 billion. LPL Financial had a return on equity of 56.36% and a net margin of 9.71%. The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.21 EPS. As a group, research analysts forecast that LPL Financial Holdings Inc. will post 15.63 EPS for the current year.

LPL Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st will be paid a dividend of $0.30 per share. The ex-dividend date is Monday, May 20th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.44%. LPL Financial’s dividend payout ratio is presently 9.06%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. JMP Securities reiterated a “market outperform” rating and issued a $305.00 price target on shares of LPL Financial in a research note on Wednesday. TD Cowen lifted their target price on LPL Financial from $269.00 to $271.00 and gave the company a “hold” rating in a research note on Wednesday. Raymond James assumed coverage on LPL Financial in a research note on Thursday, April 4th. They issued an “underperform” rating for the company. Barclays lifted their price objective on shares of LPL Financial from $302.00 to $312.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Finally, Morgan Stanley upgraded shares of LPL Financial from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $254.00 to $315.00 in a research report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $276.20.

Insider Activity at LPL Financial

In other LPL Financial news, CEO Dan H. Arnold sold 10,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 137,044 shares in the company, valued at $35,131,229.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other LPL Financial news, Director Matthew Enyedi sold 1,381 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $256.94, for a total value of $354,834.14. Following the transaction, the director now owns 8,634 shares of the company’s stock, valued at approximately $2,218,419.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Dan H. Arnold sold 10,000 shares of LPL Financial 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 sale, the chief executive officer now owns 137,044 shares of the company’s stock, valued at $35,131,229.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 60,151 shares of company stock worth $15,911,088. Insiders own 1.30% of the company’s stock.

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.