Tobam Purchases 1,857 Shares of LPL Financial Holdings Inc. $LPLA

Tobam raised its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 13.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,505 shares of the financial services provider’s stock after buying an additional 1,857 shares during the quarter. LPL Financial accounts for 1.4% of Tobam’s holdings, making the stock its 22nd biggest holding. Tobam’s holdings in LPL Financial were worth $5,538,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Osterweis Capital Management Inc. acquired a new position in shares of LPL Financial in the second quarter valued at about $26,000. Clearstead Advisors LLC raised its stake in LPL Financial by 3,650.0% in the 4th quarter. Clearstead Advisors LLC now owns 75 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 73 shares in the last quarter. Steigerwald Gordon & Koch Inc. boosted its holdings in LPL Financial by 550.0% in the 4th quarter. Steigerwald Gordon & Koch Inc. now owns 78 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 66 shares during the period. Core Wealth Advisors LLC bought a new stake in LPL Financial in the 4th quarter valued at about $36,000. Finally, Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in shares of LPL Financial during the 4th quarter worth approximately $50,000. Institutional investors and hedge funds own 95.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on LPLA shares. Barclays boosted their price target on LPL Financial from $369.00 to $412.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. UBS Group raised their target price on shares of LPL Financial from $380.00 to $395.00 and gave the company a “buy” rating in a report on Friday, May 1st. Citizens Jmp reaffirmed a “market outperform” rating and set a $500.00 price target on shares of LPL Financial in a report on Monday, April 6th. JPMorgan Chase & Co. reduced their price target on shares of LPL Financial from $396.00 to $390.00 and set an “overweight” rating on the stock in a research report on Friday, May 1st. Finally, William Blair reaffirmed an “outperform” rating on shares of LPL Financial in a report on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $398.86.

LPL Financial Price Performance

LPLA stock opened at $293.95 on Friday. The company has a 50 day simple moving average of $301.84 and a 200 day simple moving average of $327.85. The stock has a market cap of $23.51 billion, a price-to-earnings ratio of 26.25, a P/E/G ratio of 0.61 and a beta of 0.50. LPL Financial Holdings Inc. has a 1 year low of $260.15 and a 1 year high of $403.58. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.56 and a quick ratio of 2.56.

LPL Financial (NASDAQ:LPLA) last issued its earnings results on Thursday, April 30th. The financial services provider reported $5.60 earnings per share for the quarter, beating analysts’ consensus estimates of $5.49 by $0.11. LPL Financial had a net margin of 4.93% and a return on equity of 31.26%. The firm had revenue of $4.94 billion for the quarter, compared to analyst estimates of $4.98 billion. During the same quarter last year, the business posted $5.15 earnings per share. The company’s quarterly revenue was up 34.6% on a year-over-year basis. Research analysts anticipate that LPL Financial Holdings Inc. will post 22.98 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Thursday, May 21st. LPL Financial’s payout ratio is 10.71%.

Insider Buying and Selling at LPL Financial

In other news, CFO Matthew J. Audette sold 1,110 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief financial officer owned 19,803 shares of the company’s stock, valued at $6,535,188.03. This represents a 5.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.60% of the company’s stock.

LPL Financial Company 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.