TrinityPoint Wealth LLC Purchases 84 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

TrinityPoint Wealth LLC increased its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 1.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,689 shares of the financial services provider’s stock after buying an additional 84 shares during the period. TrinityPoint Wealth LLC’s holdings in LPL Financial were worth $1,858,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in LPL Financial in the fourth quarter valued at $305,747,000. Raymond James Financial Inc. bought a new stake in LPL Financial in the fourth quarter valued at $295,982,000. Boston Partners increased its stake in LPL Financial by 26.0% in the fourth quarter. Boston Partners now owns 3,905,541 shares of the financial services provider’s stock valued at $1,278,454,000 after purchasing an additional 805,637 shares in the last quarter. Janus Henderson Group PLC increased its stake in LPL Financial by 20.6% in the fourth quarter. Janus Henderson Group PLC now owns 3,050,529 shares of the financial services provider’s stock valued at $996,032,000 after purchasing an additional 522,032 shares in the last quarter. Finally, Balyasny Asset Management L.P. bought a new stake in LPL Financial in the fourth quarter valued at $153,946,000. Institutional investors own 95.66% of the company’s stock.

LPL Financial Stock Up 0.8%

LPL Financial stock opened at $384.61 on Friday. LPL Financial Holdings Inc. has a fifty-two week low of $187.19 and a fifty-two week high of $390.23. The stock has a market cap of $30.76 billion, a PE ratio of 27.39, a price-to-earnings-growth ratio of 0.94 and a beta of 0.65. The firm’s 50-day simple moving average is $326.05 and its 200 day simple moving average is $333.50. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16.

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

LPL Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 30th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.31%. The ex-dividend date is Friday, May 30th. LPL Financial’s dividend payout ratio (DPR) is presently 8.30%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on LPLA shares. StockNews.com raised shares of LPL Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, May 13th. Barclays lifted their price target on shares of LPL Financial from $365.00 to $400.00 and gave the company an “overweight” rating in a research note on Monday, May 12th. Wells Fargo & Company decreased their price target on shares of LPL Financial from $405.00 to $342.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. JPMorgan Chase & Co. lifted their price objective on shares of LPL Financial from $397.00 to $405.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of LPL Financial from $390.00 to $405.00 and gave the company an “outperform” rating in a report on Friday, January 31st. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $374.42.

Insider Buying and Selling

In other LPL Financial news, CFO Matthew J. Audette sold 4,588 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $360.07, for a total value of $1,652,001.16. Following the transaction, the chief financial officer now directly owns 16,538 shares in the company, valued at $5,954,837.66. The trade was a 21.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Marc Eliot Cohen sold 1,100 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $365.85, for a total transaction of $402,435.00. Following the completion of the transaction, the director now owns 4,075 shares in the company, valued at approximately $1,490,838.75. The trade was a 21.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

LPL Financial Profile

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.