Cwm LLC Buys 56 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Cwm LLC raised its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 6.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 985 shares of the financial services provider’s stock after acquiring an additional 56 shares during the period. Cwm LLC’s holdings in LPL Financial were worth $224,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Smithfield Trust Co lifted its position in shares of 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 buying an additional 74 shares in the last quarter. Cary Street Partners Investment Advisory LLC raised its position in shares of LPL Financial by 770.0% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 261 shares of the financial services provider’s stock valued at $62,000 after buying an additional 231 shares in the last quarter. Harvest Fund Management Co. Ltd raised its position in shares of LPL Financial by 724.2% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 272 shares of the financial services provider’s stock valued at $65,000 after buying an additional 239 shares in the last quarter. Tennessee Valley Asset Management Partners purchased a new stake in shares of LPL Financial during the 4th quarter valued at about $73,000. Finally, Arlington Trust Co LLC purchased a new stake in shares of LPL Financial during the 4th quarter valued at about $89,000. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Analyst Ratings Changes

LPLA has been the topic of several recent research reports. Raymond James started coverage on shares of LPL Financial in a research report on Thursday, April 4th. They set an “underperform” rating on the stock. TD Cowen upped their price target on shares of LPL Financial from $269.00 to $271.00 and gave the company a “hold” rating in a report on Wednesday. JPMorgan Chase & Co. upped their target price on shares of LPL Financial from $254.00 to $260.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. Morgan Stanley upgraded shares of LPL Financial from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $254.00 to $315.00 in a research note on Tuesday, April 9th. Finally, UBS Group upped their target price on shares of LPL Financial from $260.00 to $267.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $276.20.

Insider Activity at LPL Financial

In related news, CEO Dan H. Arnold sold 34,807 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other LPL Financial news, CEO Dan H. Arnold sold 34,807 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $266.54, for a total value of $9,277,457.78. Following the completion of the transaction, the chief executive officer now owns 141,810 shares of the company’s stock, valued at $37,798,037.40. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Matthew J. Audette sold 5,574 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $266.52, for a total transaction of $1,485,582.48. Following the completion of the transaction, the chief financial officer now directly owns 13,663 shares of the company’s stock, valued at approximately $3,641,462.76. The disclosure for this sale can be found here. Insiders sold 60,151 shares of company stock valued at $15,911,088 over the last 90 days. Insiders own 1.30% of the company’s stock.

LPL Financial Price Performance

NASDAQ LPLA opened at $270.79 on Friday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.77 and a current ratio of 1.77. The firm’s 50 day moving average price is $264.90 and its 200-day moving average price is $243.15. LPL Financial Holdings Inc. has a 52-week low of $179.00 and a 52-week high of $276.12. The company has a market cap of $20.23 billion, a PE ratio of 20.45, a P/E/G ratio of 1.28 and a beta of 0.83.

LPL Financial (NASDAQ:LPLA) last posted its earnings results on Thursday, February 1st. The financial services provider reported $3.51 EPS for the quarter, beating analysts’ consensus estimates of $3.33 by $0.18. LPL Financial had a net margin of 9.71% and a return on equity of 56.36%. The company had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.55 billion. During the same quarter in the prior year, the company posted $4.21 earnings per share. LPL Financial’s revenue for the quarter was up 13.3% compared to the same quarter last year. Sell-side analysts forecast that LPL Financial Holdings Inc. will post 15.63 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st will be given a dividend of $0.30 per share. The ex-dividend date is Monday, May 20th. This represents a $1.20 dividend on an annualized basis and a yield of 0.44%. LPL Financial’s payout ratio is 9.06%.

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.