LPL Financial Holdings Inc. $LPLA Shares Purchased by Kerusso Capital Management LLC

Kerusso Capital Management LLC boosted its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 31.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,092 shares of the financial services provider’s stock after acquiring an additional 2,902 shares during the quarter. LPL Financial accounts for 2.0% of Kerusso Capital Management LLC’s investment portfolio, making the stock its 22nd biggest position. Kerusso Capital Management LLC’s holdings in LPL Financial were worth $4,319,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LPLA. NewEdge Advisors LLC boosted its holdings in LPL Financial by 42.7% in the first quarter. NewEdge Advisors LLC now owns 3,525 shares of the financial services provider’s stock valued at $1,153,000 after acquiring an additional 1,055 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in LPL Financial by 0.5% in the first quarter. Goldman Sachs Group Inc. now owns 209,126 shares of the financial services provider’s stock valued at $68,414,000 after acquiring an additional 1,089 shares during the last quarter. Woodline Partners LP acquired a new position in LPL Financial in the first quarter valued at $1,636,000. Focus Partners Wealth boosted its holdings in LPL Financial by 12.2% in the first quarter. Focus Partners Wealth now owns 4,360 shares of the financial services provider’s stock valued at $1,426,000 after acquiring an additional 473 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new position in LPL Financial in the first quarter valued at $121,000. Institutional investors and hedge funds own 95.66% of the company’s stock.

LPL Financial Stock Down 2.1%

Shares of NASDAQ LPLA opened at $321.00 on Friday. LPL Financial Holdings Inc. has a 1 year low of $281.51 and a 1 year high of $403.58. The firm has a market cap of $25.74 billion, a price-to-earnings ratio of 29.16, a PEG ratio of 0.90 and a beta of 0.56. The company has a debt-to-equity ratio of 1.36, a quick ratio of 2.45 and a current ratio of 2.45. The stock’s 50-day simple moving average is $308.74 and its 200-day simple moving average is $342.13.

LPL Financial (NASDAQ:LPLA) last announced its earnings results on Thursday, January 29th. The financial services provider reported $5.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.82 by $0.41. LPL Financial had a return on equity of 34.19% and a net margin of 5.08%.The business had revenue of $4.93 billion for the quarter, compared to analyst estimates of $4.90 billion. During the same period in the previous year, the company earned $4.25 earnings per share. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, equities analysts anticipate that LPL Financial Holdings Inc. will post 23 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 24th. Stockholders of record on Tuesday, March 10th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Tuesday, March 10th. LPL Financial’s payout ratio is presently 10.90%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. JPMorgan Chase & Co. lifted their target price on LPL Financial from $433.00 to $439.00 and gave the company an “overweight” rating in a report on Friday, January 30th. UBS Group upgraded LPL Financial from a “neutral” rating to a “buy” rating and reduced their target price for the company from $406.00 to $380.00 in a report on Wednesday, April 8th. Citizens Jmp restated a “market outperform” rating and set a $500.00 price objective on shares of LPL Financial in a research note on Monday, April 6th. Jefferies Financial Group reduced their price objective on LPL Financial from $464.00 to $383.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. Finally, Morgan Stanley reduced their price objective on LPL Financial from $447.00 to $374.00 and set an “overweight” rating on the stock in a research note on Friday, April 10th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $401.93.

Insider Activity at LPL Financial

In related news, CFO Matthew J. Audette sold 1,110 shares of the business’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $330.01, for a total value of $366,311.10. Following the completion of the sale, the chief financial officer directly owned 19,803 shares of the company’s stock, valued at $6,535,188.03. The trade was a 5.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Marc Eliot Cohen sold 1,088 shares of the business’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $309.72, for a total value of $336,975.36. Following the completion of the sale, the director directly owned 4,400 shares of the company’s stock, valued at approximately $1,362,768. This represents a 19.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 8,569 shares of company stock valued at $2,720,733 over the last three months. 0.60% of the stock is owned by insiders.

LPL Financial Profile

LPL Financial (NASDAQ: LPLA) is a U.S.-focused financial services firm that provides brokerage, custodial and advisory platforms to independent financial advisors, registered investment advisers and institutions. Operating primarily as an independent broker-dealer and custodian, the company supports a network of advisors with the operational, compliance and clearing infrastructure needed to manage client accounts and deliver investment advice outside of traditional wirehouse models.

The firm’s product and service offerings include trade execution and clearing, custody services, retirement plan services, model portfolio and advisory platforms, wealth management technology, investment research and product access across equities, fixed income, mutual funds, exchange-traded funds and insurance and annuity solutions.