Castlekeep Investment Advisors LLC Takes Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Castlekeep Investment Advisors LLC purchased a new position in LPL Financial Holdings Inc. (NASDAQ:LPLA) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 10,448 shares of the financial services provider’s stock, valued at approximately $3,411,000.

A number of other institutional investors have also recently made changes to their positions in LPLA. Graney & King LLC acquired a new position in LPL Financial during the fourth quarter worth about $30,000. Fourth Dimension Wealth LLC purchased a new position in LPL Financial in the 4th quarter worth approximately $40,000. Itau Unibanco Holding S.A. acquired a new position in shares of LPL Financial during the 4th quarter worth approximately $42,000. Jones Financial Companies Lllp grew its position in shares of LPL Financial by 45.3% in the fourth quarter. Jones Financial Companies Lllp now owns 138 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 43 shares in the last quarter. Finally, Atala Financial Inc acquired a new stake in shares of LPL Financial in the fourth quarter valued at approximately $59,000. 95.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on LPLA shares. Keefe, Bruyette & Woods boosted their price objective on LPL Financial from $390.00 to $405.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. boosted their price target on shares of LPL Financial from $397.00 to $405.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Wall Street Zen lowered shares of LPL Financial from a “hold” rating to a “sell” rating in a report on Wednesday. Morgan Stanley lifted their target price on shares of LPL Financial from $330.00 to $450.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Wells Fargo & Company decreased their target price on shares of LPL Financial from $405.00 to $342.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $377.50.

LPL Financial Trading Down 1.3%

Shares of LPLA stock opened at $372.50 on Friday. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. The firm has a market cap of $29.79 billion, a PE ratio of 26.53, a price-to-earnings-growth ratio of 0.94 and a beta of 0.65. The company has a 50-day moving average of $331.91 and a two-hundred day moving average of $336.62. LPL Financial Holdings Inc. has a 1-year low of $187.19 and a 1-year high of $390.23.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings results on Thursday, May 8th. The financial services provider reported $5.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.54 by $0.61. The business had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.63 billion. LPL Financial had a net margin of 8.55% and a return on equity of 49.41%. The business’s revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the firm earned $3.83 EPS. On average, analysts predict that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date of this dividend is Friday, May 30th. LPL Financial’s dividend payout ratio (DPR) is 8.30%.

Insiders Place Their Bets

In related news, Director Marc Eliot Cohen sold 1,100 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $365.85, for a total transaction of $402,435.00. Following the sale, the director now directly owns 4,075 shares of the company’s stock, valued at $1,490,838.75. This represents a 21.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Matthew J. Audette sold 4,588 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $360.07, for a total transaction of $1,652,001.16. Following the sale, the chief financial officer now owns 16,538 shares in the company, valued at approximately $5,954,837.66. This trade represents a 21.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.70% of the stock is owned by insiders.

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.