WCM Investment Management LLC Grows Stock Holdings in LPL Financial Holdings Inc. $LPLA

WCM Investment Management LLC increased its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 0.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,742,991 shares of the financial services provider’s stock after acquiring an additional 12,214 shares during the period. LPL Financial makes up 1.2% of WCM Investment Management LLC’s investment portfolio, making the stock its 29th largest position. WCM Investment Management LLC’s holdings in LPL Financial were worth $593,663,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Cullen Frost Bankers Inc. lifted its holdings in shares of LPL Financial by 9.9% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 301 shares of the financial services provider’s stock valued at $113,000 after acquiring an additional 27 shares in the last quarter. Camden National Bank raised its position in LPL Financial by 3.1% in the second quarter. Camden National Bank now owns 967 shares of the financial services provider’s stock valued at $363,000 after purchasing an additional 29 shares during the period. Perennial Investment Advisors LLC lifted its stake in shares of LPL Financial by 4.0% during the second quarter. Perennial Investment Advisors LLC now owns 804 shares of the financial services provider’s stock worth $302,000 after purchasing an additional 31 shares in the last quarter. PUREfi Wealth LLC boosted its position in shares of LPL Financial by 4.7% in the third quarter. PUREfi Wealth LLC now owns 732 shares of the financial services provider’s stock worth $244,000 after buying an additional 33 shares during the period. Finally, Smithfield Trust Co grew its stake in shares of LPL Financial by 29.4% in the second quarter. Smithfield Trust Co now owns 154 shares of the financial services provider’s stock valued at $58,000 after buying an additional 35 shares in the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

Insider Transactions 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 of the company’s stock, valued at $3,459,852.74. The trade was a 35.16% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Aneri Jambusaria sold 80 shares of the firm’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $352.48, for a total transaction of $28,198.40. Following the transaction, the director owned 5,502 shares of the company’s stock, valued at approximately $1,939,344.96. This represents a 1.43% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 7,388 shares of company stock valued at $2,747,538. 0.70% of the stock is owned by corporate insiders.

LPL Financial Trading Up 3.2%

Shares of NASDAQ LPLA opened at $376.33 on Tuesday. LPL Financial Holdings Inc. has a one year low of $262.83 and a one year high of $403.58. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 1.49. The firm has a market capitalization of $30.12 billion, a PE ratio of 34.18, a PEG ratio of 0.79 and a beta of 0.58. The business has a 50-day moving average price of $366.80 and a two-hundred day moving average price of $358.21.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings results on Thursday, January 29th. The financial services provider reported $5.23 EPS for the quarter, topping the consensus estimate of $4.82 by $0.41. The company had revenue of $4.93 billion for the quarter, compared to analyst estimates of $4.90 billion. LPL Financial had a net margin of 5.08% and a return on equity of 35.99%. LPL Financial’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.25 EPS. As a group, analysts predict that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 10th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.3%. The ex-dividend date is Tuesday, March 10th. LPL Financial’s dividend payout ratio (DPR) is currently 10.90%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on LPLA shares. Wolfe Research set a $478.00 price target on LPL Financial in a research report on Friday. JMP Securities set a $475.00 target price on shares of LPL Financial in a research report on Friday, October 31st. Barclays dropped their price target on LPL Financial from $444.00 to $434.00 and set an “overweight” rating on the stock in a research report on Friday. TD Cowen dropped their price target on LPL Financial from $399.00 to $378.00 and set a “hold” rating on the stock in a research report on Friday. Finally, UBS Group reissued a “neutral” rating and set a $406.00 target price on shares of LPL Financial in a research note on Thursday, December 11th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $427.69.

About LPL Financial

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.