Tidemark LLC Buys New Stake in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Tidemark LLC purchased a new position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 471 shares of the financial services provider’s stock, valued at approximately $107,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC grew its stake in shares of LPL Financial by 18.9% during the third quarter. Commonwealth Equity Services LLC now owns 3,077 shares of the financial services provider’s stock valued at $731,000 after acquiring an additional 489 shares in the last quarter. Wealthfront Advisers LLC boosted its stake in shares of LPL Financial by 12.1% during the 3rd quarter. Wealthfront Advisers LLC now owns 1,688 shares of the financial services provider’s stock valued at $401,000 after buying an additional 182 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in shares of LPL Financial by 4.1% in the third quarter. Nisa Investment Advisors LLC now owns 10,752 shares of the financial services provider’s stock worth $2,555,000 after buying an additional 419 shares during the last quarter. Principal Financial Group Inc. raised its holdings in LPL Financial by 2.1% in the third quarter. Principal Financial Group Inc. now owns 16,124 shares of the financial services provider’s stock valued at $3,832,000 after acquiring an additional 326 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. boosted its stake in LPL Financial by 4.7% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,906 shares of the financial services provider’s stock valued at $453,000 after acquiring an additional 86 shares during the last quarter. 95.66% of the stock is currently owned by institutional investors and hedge funds.

LPL Financial Stock Performance

Shares of NASDAQ:LPLA traded up $3.49 on Thursday, hitting $276.16. The company’s stock had a trading volume of 154,494 shares, compared to its average volume of 524,553. The company has a market capitalization of $20.63 billion, a price-to-earnings ratio of 20.59, a price-to-earnings-growth ratio of 1.08 and a beta of 0.83. 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 Holdings Inc. has a 12 month low of $190.13 and a 12 month high of $277.05. The stock’s 50-day moving average is $265.52 and its two-hundred day moving average is $247.45.

LPL Financial (NASDAQ:LPLA) last announced its earnings results on Tuesday, April 30th. The financial services provider reported $4.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $2.68 billion. On average, equities research analysts forecast that LPL Financial Holdings Inc. will post 15.86 EPS for the current year.

LPL Financial Dividend Announcement

The company 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 dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Monday, May 20th. LPL Financial’s dividend payout ratio (DPR) is presently 9.06%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Barclays boosted their target price on shares of LPL Financial from $302.00 to $312.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Raymond James assumed coverage on LPL Financial in a research report on Thursday, April 4th. They set an “underperform” rating on the stock. UBS Group lifted their price objective on shares of LPL Financial from $260.00 to $267.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. JPMorgan Chase & Co. increased their target price on shares of LPL Financial from $254.00 to $260.00 and gave the stock a “neutral” rating in a report on Tuesday, April 2nd. Finally, TD Cowen lifted 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, May 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, LPL Financial currently has a consensus rating of “Hold” and a consensus price target of $276.20.

Insider Activity

In other LPL Financial news, CEO Dan H. Arnold sold 7,089 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $265.66, for a total value of $1,883,263.74. Following the completion of the sale, the chief executive officer now directly owns 133,169 shares of the company’s stock, valued at $35,377,676.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Dan H. Arnold sold 7,089 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $265.66, for a total transaction of $1,883,263.74. Following the transaction, the chief executive officer now owns 133,169 shares of the company’s stock, valued at approximately $35,377,676.54. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Dan H. Arnold sold 34,807 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $266.54, for a total value 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 disclosure for this sale can be found here. Insiders sold a total of 48,770 shares of company stock worth $12,992,754 in the last three months. 1.30% of the stock is owned by 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.