Everpar Advisors LLC Invests $1.06 Million in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Everpar Advisors LLC purchased a new stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) in the fourth quarter, Holdings Channel.com reports. The firm purchased 4,660 shares of the financial services provider’s stock, valued at approximately $1,061,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in LPLA. Smithfield Trust Co lifted its position in shares of LPL Financial by 164.4% during the third quarter. Smithfield Trust Co now owns 119 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 74 shares in the last quarter. GAMMA Investing LLC bought a new position in LPL Financial in the 4th quarter valued at $30,000. Cary Street Partners Investment Advisory LLC increased its stake in shares of LPL Financial by 770.0% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 261 shares of the financial services provider’s stock valued at $62,000 after buying an additional 231 shares during the period. Harvest Fund Management Co. Ltd raised its position in shares of LPL Financial by 724.2% during the third quarter. Harvest Fund Management Co. Ltd now owns 272 shares of the financial services provider’s stock worth $65,000 after acquiring an additional 239 shares during the last quarter. Finally, Tennessee Valley Asset Management Partners bought a new stake in LPL Financial during the 4th quarter worth about $73,000. Institutional investors and hedge funds own 95.66% of the company’s stock.

Insider Activity at LPL Financial

In other news, CEO Dan H. Arnold sold 10,000 shares of the stock in a transaction on 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 transaction, the chief executive officer now directly owns 137,044 shares in the company, valued at approximately $35,131,229.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other LPL Financial news, CEO Dan H. Arnold sold 10,000 shares of the company’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 transaction, the chief executive officer now owns 137,044 shares of the company’s stock, valued at approximately $35,131,229.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Dan H. Arnold sold 7,089 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $265.66, for a total value of $1,883,263.74. Following the completion of the transaction, the chief executive officer now owns 133,169 shares of the company’s stock, valued at $35,377,676.54. The disclosure for this sale can be found here. In the last three months, insiders have sold 60,151 shares of company stock valued at $15,911,088. 1.00% of the stock is owned by insiders.

LPL Financial Price Performance

Shares of NASDAQ:LPLA traded down $1.94 during midday trading on Wednesday, hitting $267.03. The stock had a trading volume of 421,939 shares, compared to its average volume of 540,012. The company’s 50-day moving average price is $265.02 and its 200-day moving average price is $243.93. LPL Financial Holdings Inc. has a fifty-two week low of $186.35 and a fifty-two week high of $276.12. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 1.70. The company has a market capitalization of $19.95 billion, a P/E ratio of 20.31, a price-to-earnings-growth ratio of 1.08 and a beta of 0.83.

LPL Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st will be paid a $0.30 dividend. The ex-dividend date is Monday, May 20th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.45%. LPL Financial’s payout ratio is currently 9.06%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on LPLA shares. Barclays lifted their price target on shares of LPL Financial from $302.00 to $312.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. UBS Group increased their price target on LPL Financial from $260.00 to $267.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Morgan Stanley upgraded LPL Financial from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $254.00 to $315.00 in a research report on Tuesday, April 9th. JMP Securities reissued a “market outperform” rating and issued a $305.00 target price on shares of LPL Financial in a research note on Wednesday, May 1st. Finally, TD Cowen boosted their target price on LPL Financial from $269.00 to $271.00 and gave the stock a “hold” rating in a research report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average 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.