Presidio Capital Management LLC Makes New Investment in LPL Financial Holdings Inc. $LPLA

Presidio Capital Management LLC purchased a new stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 2,286 shares of the financial services provider’s stock, valued at approximately $761,000.

Several other hedge funds have also recently made changes to their positions in LPLA. Osterweis Capital Management Inc. bought a new stake in LPL Financial in the 2nd quarter worth approximately $26,000. SJS Investment Consulting Inc. boosted its stake in shares of LPL Financial by 912.5% in the 3rd quarter. SJS Investment Consulting Inc. now owns 81 shares of the financial services provider’s stock worth $27,000 after buying an additional 73 shares during the last quarter. Chung Wu Investment Group LLC bought a new stake in shares of LPL Financial in the third quarter worth $27,000. Eastern Bank grew its holdings in shares of LPL Financial by 72.0% in the third quarter. Eastern Bank now owns 86 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 36 shares during the period. Finally, SBI Securities Co. Ltd. increased its position in LPL Financial by 116.2% during the second quarter. SBI Securities Co. Ltd. now owns 80 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 43 shares during the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.

LPL Financial Stock Up 1.4%

LPLA opened at $334.70 on Friday. The stock has a market cap of $26.79 billion, a price-to-earnings ratio of 30.40, a price-to-earnings-growth ratio of 0.74 and a beta of 0.58. The company has a debt-to-equity ratio of 1.49, a quick ratio of 2.60 and a current ratio of 2.60. The firm’s fifty day moving average is $368.07 and its 200 day moving average is $357.32. LPL Financial Holdings Inc. has a fifty-two week low of $262.83 and a fifty-two week high of $403.58.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings results on Thursday, January 29th. The financial services provider reported $5.23 EPS for the quarter, beating analysts’ consensus estimates of $4.82 by $0.41. The business had revenue of $4.93 billion for the quarter, compared to analysts’ expectations of $4.90 billion. LPL Financial had a return on equity of 35.99% and a net margin of 5.08%.The business’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period last year, the firm earned $4.25 earnings per share. On average, sell-side analysts forecast that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 10th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.4%. The ex-dividend date is Tuesday, March 10th. LPL Financial’s dividend payout ratio is presently 10.90%.

Insider Buying and Selling at LPL Financial

In other LPL Financial news, CEO Richard Steinmeier sold 5,058 shares of the business’s stock in a transaction on Friday, December 5th. The shares were sold at an average price of $370.99, for a total value of $1,876,467.42. Following the sale, the chief executive officer owned 9,326 shares in the company, valued at $3,459,852.74. The trade was a 35.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Greg Gates sold 750 shares of the firm’s stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $370.97, for a total value of $278,227.50. Following the transaction, the director owned 14,620 shares of the company’s stock, valued at approximately $5,423,581.40. The trade was a 4.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 5,888 shares of company stock valued at $2,182,893 in the last three months. 1.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on LPLA. Citizens Jmp raised their target price on LPL Financial from $455.00 to $475.00 and gave the stock a “market outperform” rating in a research report on Friday, October 31st. Weiss Ratings restated a “hold (c)” rating on shares of LPL Financial in a research report on Wednesday, January 28th. JPMorgan Chase & Co. increased their price target on shares of LPL Financial from $433.00 to $439.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. The Goldman Sachs Group reissued a “buy” rating and set a $421.00 price objective on shares of LPL Financial in a research report on Friday, October 31st. Finally, Jefferies Financial Group raised their target price on LPL Financial from $426.00 to $440.00 and gave the stock a “buy” rating in a report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, LPL Financial presently has an average rating of “Moderate Buy” and a consensus target price of $431.80.

LPL Financial Profile

LPL Financial (NASDAQ: LPLA) is a U.S.-focused financial services firm that provides brokerage, custodial and advisory platforms to independent financial advisors, registered investment advisers and institutions. Operating primarily as an independent broker-dealer and custodian, the company supports a network of advisors with the operational, compliance and clearing infrastructure needed to manage client accounts and deliver investment advice outside of traditional wirehouse models.

The firm’s product and service offerings include trade execution and clearing, custody services, retirement plan services, model portfolio and advisory platforms, wealth management technology, investment research and product access across equities, fixed income, mutual funds, exchange-traded funds and insurance and annuity solutions.