Monument Capital Management Invests $1.95 Million in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Monument Capital Management acquired a new position in LPL Financial Holdings Inc. (NASDAQ:LPLA) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 8,565 shares of the financial services provider’s stock, valued at approximately $1,950,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ritholtz Wealth Management grew its holdings in shares of LPL Financial by 6.5% in the 3rd quarter. Ritholtz Wealth Management now owns 3,833 shares of the financial services provider’s stock worth $911,000 after acquiring an additional 233 shares during the last quarter. Arkadios Wealth Advisors acquired a new position in shares of LPL Financial in the 3rd quarter worth $222,000. SG Americas Securities LLC acquired a new position in shares of LPL Financial in the 3rd quarter worth $1,926,000. Integrated Investment Consultants LLC grew its holdings in shares of LPL Financial by 60.3% in the 3rd quarter. Integrated Investment Consultants LLC now owns 4,462 shares of the financial services provider’s stock worth $1,060,000 after acquiring an additional 1,678 shares during the last quarter. Finally, Simplicity Solutions LLC grew its holdings in shares of LPL Financial by 38.2% in the 3rd quarter. Simplicity Solutions LLC now owns 6,227 shares of the financial services provider’s stock worth $1,480,000 after acquiring an additional 1,722 shares during the last quarter. Institutional investors own 95.66% of the company’s stock.

Insiders Place Their Bets

In other LPL Financial news, CEO Dan H. Arnold sold 10,000 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $256.35, for a total value of $2,563,500.00. Following the completion of the sale, the chief executive officer now owns 137,044 shares of the company’s stock, valued at $35,131,229.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Dan H. Arnold sold 10,000 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $256.35, for a total transaction of $2,563,500.00. Following the completion of the transaction, the chief executive officer now owns 137,044 shares of the company’s stock, valued at approximately $35,131,229.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Dan H. Arnold sold 34,807 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 141,810 shares of the company’s stock, valued at approximately $37,798,037.40. The disclosure for this sale can be found here. Insiders sold 60,151 shares of company stock valued at $15,911,088 over the last quarter. Insiders own 1.00% of the company’s stock.

LPL Financial Stock Up 1.7 %

LPLA traded up $4.50 during trading on Monday, reaching $267.09. 136,241 shares of the stock traded hands, compared to its average volume of 525,170. The stock has a market cap of $19.95 billion, a price-to-earnings ratio of 19.22, a price-to-earnings-growth ratio of 1.27 and a beta of 0.84. LPL Financial Holdings Inc. has a fifty-two week low of $179.00 and a fifty-two week high of $274.35. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.77 and a quick ratio of 1.77. The stock’s 50-day simple moving average is $262.88 and its two-hundred day simple moving average is $240.90.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings data on Thursday, February 1st. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.33 by $0.18. The firm had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.55 billion. LPL Financial had a return on equity of 57.68% and a net margin of 10.61%. The business’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter last year, the firm earned $4.21 earnings per share. As a group, equities research analysts expect that LPL Financial Holdings Inc. will post 15.55 EPS for the current year.

LPL Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Tuesday, March 12th were given a $0.30 dividend. The ex-dividend date of this dividend was Monday, March 11th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.45%. LPL Financial’s dividend payout ratio is currently 8.79%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Morgan Stanley upgraded LPL Financial from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $254.00 to $315.00 in a report on Tuesday, April 9th. JPMorgan Chase & Co. lifted their price target on LPL Financial from $254.00 to $260.00 and gave the company a “neutral” rating in a report on Tuesday, April 2nd. TD Cowen lifted their price target on LPL Financial from $266.00 to $269.00 and gave the company a “market perform” rating in a report on Friday, March 22nd. JMP Securities lifted their price target on LPL Financial from $290.00 to $305.00 and gave the company a “market outperform” rating in a report on Tuesday, April 9th. Finally, Raymond James assumed coverage on LPL Financial in a report on Thursday, April 4th. They set an “underperform” rating on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $268.36.

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.