TrinityPoint Wealth LLC Increases Stock Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

TrinityPoint Wealth LLC lifted its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 1.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,689 shares of the financial services provider’s stock after buying an additional 84 shares during the quarter. TrinityPoint Wealth LLC’s holdings in LPL Financial were worth $1,858,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Boston Partners lifted its stake in LPL Financial by 26.0% in the 4th quarter. Boston Partners now owns 3,905,541 shares of the financial services provider’s stock worth $1,278,454,000 after purchasing an additional 805,637 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of LPL Financial by 20.6% in the fourth quarter. Janus Henderson Group PLC now owns 3,050,529 shares of the financial services provider’s stock worth $996,032,000 after purchasing an additional 522,032 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of LPL Financial by 2.2% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,660,736 shares of the financial services provider’s stock worth $868,757,000 after purchasing an additional 57,485 shares during the period. Geode Capital Management LLC raised its position in shares of LPL Financial by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 1,459,942 shares of the financial services provider’s stock worth $475,946,000 after buying an additional 23,111 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of LPL Financial by 27.6% in the third quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider’s stock worth $296,635,000 after buying an additional 276,166 shares in the last quarter. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Marc Eliot Cohen sold 1,100 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $365.85, for a total value of $402,435.00. Following the completion of the sale, the director now owns 4,075 shares of the company’s stock, valued at approximately $1,490,838.75. The trade was a 21.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Matthew J. Audette sold 4,588 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $360.07, for a total value of $1,652,001.16. Following the transaction, the chief financial officer now owns 16,538 shares in the company, valued at approximately $5,954,837.66. This represents a 21.72% decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

LPLA has been the topic of a number of recent analyst reports. StockNews.com upgraded LPL Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, May 13th. UBS Group increased their price objective on LPL Financial from $390.00 to $420.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Citigroup lowered their price objective on LPL Financial from $415.00 to $400.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. JPMorgan Chase & Co. increased their price objective on LPL Financial from $397.00 to $405.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, Morgan Stanley increased their price objective on LPL Financial from $379.00 to $413.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $374.42.

LPL Financial Stock Up 0.8%

LPLA opened at $384.61 on Friday. The stock has a market cap of $30.76 billion, a PE ratio of 27.39, a P/E/G ratio of 0.94 and a beta of 0.65. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60. LPL Financial Holdings Inc. has a 52 week low of $187.19 and a 52 week high of $390.23. The business’s fifty day simple moving average is $326.05 and its 200 day simple moving average is $333.50.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings data on Thursday, May 8th. The financial services provider reported $5.15 EPS for the quarter, topping the consensus estimate of $4.54 by $0.61. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.63 billion. During the same quarter in the previous year, the business earned $3.83 earnings per share. The company’s quarterly revenue was up 4.5% on a year-over-year basis. As a group, research analysts expect that LPL Financial Holdings Inc. will post 19.35 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 Thursday, June 12th. Stockholders of record on Friday, May 30th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date is Friday, May 30th. LPL Financial’s dividend payout ratio (DPR) is presently 8.30%.

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.