Corient Private Wealth LLC Grows Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Corient Private Wealth LLC grew its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 94.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 69,623 shares of the financial services provider’s stock after buying an additional 33,880 shares during the period. Corient Private Wealth LLC owned 0.09% of LPL Financial worth $15,847,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Mawer Investment Management Ltd. purchased a new stake in shares of LPL Financial in the fourth quarter valued at $3,375,000. Hudson Bay Capital Management LP boosted its holdings in LPL Financial by 42.9% in the third quarter. Hudson Bay Capital Management LP now owns 50,000 shares of the financial services provider’s stock valued at $11,882,000 after acquiring an additional 15,000 shares during the last quarter. Asset Management One Co. Ltd. boosted its holdings in LPL Financial by 15.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 34,863 shares of the financial services provider’s stock valued at $7,965,000 after acquiring an additional 4,686 shares during the last quarter. NewEdge Wealth LLC boosted its holdings in LPL Financial by 228.6% in the fourth quarter. NewEdge Wealth LLC now owns 55,827 shares of the financial services provider’s stock valued at $12,707,000 after acquiring an additional 38,839 shares during the last quarter. Finally, Boston Partners boosted its holdings in LPL Financial by 21.5% in the fourth quarter. Boston Partners now owns 1,026,721 shares of the financial services provider’s stock valued at $233,744,000 after acquiring an additional 181,594 shares during the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Insider Transactions at LPL Financial

In related news, CFO Matthew J. Audette sold 5,574 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $266.52, for a total value of $1,485,582.48. Following the completion of the sale, the chief financial officer now directly owns 13,663 shares in the company, valued at $3,641,462.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other LPL Financial news, CEO Dan H. Arnold sold 34,807 shares of the company’s stock in a transaction dated 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 directly owns 141,810 shares in the company, valued at $37,798,037.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Matthew J. Audette sold 5,574 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $266.52, for a total transaction of $1,485,582.48. Following the sale, the chief financial officer now owns 13,663 shares of the company’s stock, valued at $3,641,462.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,681 shares of company stock valued at $11,109,490. 1.30% of the stock is owned by insiders.

LPL Financial Price Performance

Shares of NASDAQ LPLA traded up $9.91 during trading on Friday, hitting $284.40. The company had a trading volume of 656,920 shares, compared to its average volume of 523,752. The company has a market cap of $21.25 billion, a P/E ratio of 21.48, a PEG ratio of 1.10 and a beta of 0.83. LPL Financial Holdings Inc. has a 52 week low of $190.13 and a 52 week high of $284.61. The business’s 50-day moving average is $266.05 and its 200 day moving average is $248.08. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.84 and a current ratio of 1.84.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $4.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.77 by $0.44. LPL Financial had a return on equity of 55.22% and a net margin of 9.71%. The company had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.68 billion. Equities research analysts predict that LPL Financial Holdings Inc. will post 15.85 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend is Monday, May 20th. LPL Financial’s dividend payout ratio (DPR) is presently 9.06%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on LPLA. JMP Securities restated a “market outperform” rating and set a $305.00 price objective on shares of LPL Financial in a research note on Wednesday, May 1st. UBS Group boosted their price objective on LPL Financial from $260.00 to $267.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. TD Cowen boosted their price objective on LPL Financial from $269.00 to $271.00 and gave the stock a “hold” rating in a research note on Wednesday, May 1st. Raymond James started coverage on LPL Financial in a research report on Thursday, April 4th. They set an “underperform” rating on the stock. Finally, Morgan Stanley raised LPL Financial from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $254.00 to $315.00 in a research report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $276.20.

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.