Monument Capital Management Grows Stock Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Monument Capital Management grew its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 6.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,154 shares of the financial services provider’s stock after buying an additional 589 shares during the period. Monument Capital Management’s holdings in LPL Financial were worth $2,418,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. EdgeRock Capital LLC bought a new position in LPL Financial during the fourth quarter valued at $25,000. Riverview Trust Co purchased a new stake in LPL Financial in the 1st quarter worth about $30,000. GAMMA Investing LLC bought a new stake in LPL Financial in the fourth quarter worth about $30,000. Gladius Capital Management LP purchased a new position in shares of LPL Financial during the fourth quarter valued at approximately $30,000. Finally, American National Bank bought a new position in shares of LPL Financial during the fourth quarter valued at approximately $32,000. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

LPL Financial Stock Down 0.9 %

NASDAQ:LPLA traded down $2.61 during mid-day trading on Wednesday, reaching $279.39. The company’s stock had a trading volume of 106,339 shares, compared to its average volume of 525,426. The company has a quick ratio of 1.84, a current 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. The stock has a fifty day moving average of $275.65 and a 200-day moving average of $259.55. The firm has a market capitalization of $20.87 billion, a PE ratio of 21.28, a price-to-earnings-growth ratio of 1.11 and a beta of 0.90.

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

LPL Financial Announces Dividend

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

Insider Buying and Selling at LPL Financial

In other news, CEO Dan H. Arnold sold 5,677 shares of the business’s stock in a transaction on Friday, June 14th. The stock was 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 directly owns 142,608 shares of the company’s stock, valued at approximately $39,546,624.48. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. TD Cowen raised their price target on LPL Financial from $269.00 to $271.00 and gave the stock a “hold” rating in a research note on Wednesday, May 1st. Barclays lifted their target price on LPL Financial from $302.00 to $312.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. JPMorgan Chase & Co. upped their price target 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. Raymond James began coverage on shares of LPL Financial in a report on Thursday, April 4th. They set an “underperform” rating for the company. Finally, 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average 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.