Monument Capital Management Acquires 589 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Monument Capital Management increased its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 6.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,154 shares of the financial services provider’s stock after purchasing an additional 589 shares during the period. Monument Capital Management’s holdings in LPL Financial were worth $2,418,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new stake in LPL Financial in the first quarter valued at $1,824,000. Oak Thistle LLC bought a new stake in LPL Financial in the 1st quarter valued at about $506,000. LVW Advisors LLC raised its stake in LPL Financial by 1.9% during the 1st quarter. LVW Advisors LLC now owns 3,245 shares of the financial services provider’s stock worth $857,000 after buying an additional 61 shares during the period. Artemis Investment Management LLP boosted its holdings in LPL Financial by 0.3% in the first quarter. Artemis Investment Management LLP now owns 110,904 shares of the financial services provider’s stock worth $29,290,000 after acquiring an additional 315 shares in the last quarter. Finally, Hennessy Advisors Inc. bought a new position in LPL Financial in the first quarter worth approximately $3,118,000. 95.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

LPLA has been the topic of a number of research reports. Barclays upped 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. boosted their price target on shares of LPL Financial from $254.00 to $260.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. TD Cowen raised their price objective on shares of LPL Financial from $269.00 to $271.00 and gave the company a “hold” rating in a research note on Wednesday, May 1st. Morgan Stanley upgraded shares of LPL Financial from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $254.00 to $315.00 in a report on Tuesday, April 9th. Finally, JMP Securities restated a “market outperform” rating and issued a $305.00 target price on shares of LPL Financial in a report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $276.20.

LPL Financial Stock Down 0.9 %

Shares of LPLA traded down $2.61 during trading hours on Wednesday, reaching $279.39. 106,339 shares of the stock traded hands, compared to its average volume of 525,426. LPL Financial Holdings Inc. has a 52 week low of $200.18 and a 52 week high of $289.88. The stock has a fifty day simple moving average of $275.65 and a 200 day simple moving average of $259.55. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 1.70. The company has a market cap of $20.87 billion, a price-to-earnings ratio of 21.28, a PEG ratio of 1.11 and a beta of 0.90.

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

LPL Financial Announces Dividend

The business 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. 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 (DPR) is presently 9.06%.

Insiders Place Their Bets

In other LPL Financial 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 sale, the chief executive officer now directly owns 142,608 shares in the company, valued at $39,546,624.48. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.00% of the company’s stock.

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.