LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Acquired by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 6.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 206,520 shares of the financial services provider’s stock after buying an additional 11,736 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.27% of LPL Financial worth $47,008,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. First Manhattan Co. acquired a new stake in LPL Financial in the fourth quarter worth approximately $27,000. Smithfield Trust Co lifted its position in LPL Financial by 164.4% in the third quarter. Smithfield Trust Co now owns 119 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 74 shares during the period. Quarry LP lifted its position in LPL Financial by 220.4% in the second quarter. Quarry LP now owns 173 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 119 shares during the period. Fred Alger Management LLC acquired a new stake in LPL Financial in the third quarter worth approximately $44,000. Finally, First Capital Advisors Group LLC. acquired a new stake in LPL Financial in the second quarter worth approximately $49,000. 95.66% of the stock is currently owned by institutional investors and hedge funds.

LPL Financial Price Performance

Shares of NASDAQ:LPLA opened at $262.59 on Friday. The company’s fifty day moving average is $262.88 and its two-hundred day moving average is $240.77. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 1.80. LPL Financial Holdings Inc. has a 12-month low of $179.00 and a 12-month high of $274.35. The company has a market cap of $19.62 billion, a P/E ratio of 19.24, a price-to-earnings-growth ratio of 1.26 and a beta of 0.84.

LPL Financial (NASDAQ:LPLA) last announced its 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. 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 period in the previous year, the business earned $4.21 EPS. The company’s revenue was up 13.3% on a year-over-year basis. Equities analysts expect that LPL Financial Holdings Inc. will post 15.55 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

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

Insider Transactions at LPL Financial

In other news, Director Kabir Sethi sold 1,300 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $266.50, for a total value of $346,450.00. Following the transaction, the director now directly owns 10,245 shares of the company’s stock, valued at $2,730,292.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Kabir Sethi sold 1,300 shares of the company’s stock in a transaction on Monday, February 26th. The shares were 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 in the company, valued at $2,730,292.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Dan H. Arnold sold 34,807 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $266.54, for a total transaction of $9,277,457.78. Following the completion of the sale, the chief executive officer now owns 141,810 shares of the company’s stock, valued at $37,798,037.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 60,151 shares of company stock valued at $15,911,088. 1.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on LPLA shares. UBS Group increased their price objective on LPL Financial from $260.00 to $267.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. Raymond James started coverage on LPL Financial in a research report 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 increased their price objective for the company from $254.00 to $315.00 in a research report on Tuesday, April 9th. JMP Securities increased their price objective on LPL Financial from $290.00 to $305.00 and gave the company a “market outperform” rating in a research report on Tuesday, April 9th. Finally, Barclays increased their price objective on LPL Financial from $302.00 to $312.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $268.36.

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.