Transform Wealth LLC Takes $8.40 Million Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Transform Wealth LLC acquired a new stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 31,804 shares of the financial services provider’s stock, valued at approximately $8,403,000.

A number of other institutional investors and hedge funds also recently modified their holdings of LPLA. Thrive Wealth Management LLC grew its holdings in shares of LPL Financial by 19.7% during the 1st quarter. Thrive Wealth Management LLC now owns 1,160 shares of the financial services provider’s stock worth $306,000 after purchasing an additional 191 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in LPL Financial by 3.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 8,675 shares of the financial services provider’s stock worth $2,292,000 after buying an additional 313 shares during the period. DGS Capital Management LLC grew its stake in shares of LPL Financial by 2.8% in the first quarter. DGS Capital Management LLC now owns 1,625 shares of the financial services provider’s stock worth $429,000 after purchasing an additional 44 shares in the last quarter. Riverview Trust Co bought a new position in shares of LPL Financial in the first quarter worth $30,000. Finally, Gateway Investment Advisers LLC grew its stake in shares of LPL Financial by 1.7% in the first quarter. Gateway Investment Advisers LLC now owns 5,079 shares of the financial services provider’s stock worth $1,342,000 after purchasing an additional 84 shares in the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

LPL Financial Trading Up 0.2 %

Shares of NASDAQ:LPLA traded up $0.50 during trading on Friday, hitting $276.91. 135,560 shares of the company’s stock were exchanged, compared to its average volume of 522,634. The firm has a market cap of $20.69 billion, a P/E ratio of 20.88, a PEG ratio of 1.10 and a beta of 0.89. The firm has a 50-day moving average price of $274.65 and a two-hundred day moving average price of $257.68. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 1.70. LPL Financial Holdings Inc. has a 1-year low of $200.18 and a 1-year high of $289.88.

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

LPL Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend was Monday, May 20th. LPL Financial’s dividend payout ratio is currently 9.06%.

Insider Activity at LPL Financial

In other news, CEO Dan H. Arnold sold 5,677 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $277.31, for a total value of $1,574,288.87. Following the completion of the transaction, the chief executive officer now owns 142,608 shares in the company, valued at $39,546,624.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

LPLA has been the topic of a number of research analyst reports. Barclays raised their target price on LPL Financial from $302.00 to $312.00 and gave the company an “overweight” rating in a report on Monday, April 8th. JMP Securities reaffirmed a “market outperform” rating and issued a $305.00 target price on shares of LPL Financial in a research note on Wednesday, May 1st. JPMorgan Chase & Co. boosted 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. Raymond James started coverage on shares of LPL Financial in a research note on Thursday, April 4th. They issued an “underperform” rating for the company. Finally, Morgan Stanley raised shares of LPL Financial from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $254.00 to $315.00 in a research note on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target 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.