Rockefeller Capital Management L.P. Purchases 2,042 Shares of LPL Financial Holdings Inc. $LPLA

Rockefeller Capital Management L.P. boosted its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 64.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,207 shares of the financial services provider’s stock after purchasing an additional 2,042 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in LPL Financial were worth $1,860,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of LPLA. Meadowbrook Advisors Group LLC acquired a new position in shares of LPL Financial in the 4th quarter valued at $203,000. Corient Private Wealth LLC lifted its holdings in LPL Financial by 1.6% during the fourth quarter. Corient Private Wealth LLC now owns 32,951 shares of the financial services provider’s stock worth $11,769,000 after acquiring an additional 528 shares in the last quarter. Reflection Asset Management acquired a new position in LPL Financial in the fourth quarter valued at about $50,000. Tobam grew its stake in LPL Financial by 13.6% in the fourth quarter. Tobam now owns 15,505 shares of the financial services provider’s stock valued at $5,538,000 after acquiring an additional 1,857 shares during the period. Finally, Anchor Investment Management LLC increased its holdings in shares of LPL Financial by 3.9% in the fourth quarter. Anchor Investment Management LLC now owns 10,666 shares of the financial services provider’s stock worth $3,809,000 after acquiring an additional 397 shares in the last quarter. Institutional investors own 95.66% of the company’s stock.

Insider Transactions at LPL Financial

In other news, CFO Matthew J. Audette sold 1,110 shares of the firm’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $330.01, for a total value of $366,311.10. Following the completion of the transaction, the chief financial officer owned 19,803 shares in the company, valued at $6,535,188.03. This trade represents a 5.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Aneri Jambusaria sold 308 shares of LPL Financial stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $306.00, for a total value of $94,248.00. Following the completion of the sale, the director directly owned 6,415 shares in the company, valued at approximately $1,962,990. This represents a 4.58% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 1,887 shares of company stock valued at $613,144. Company insiders own 0.60% of the company’s stock.

LPL Financial Price Performance

Shares of LPLA opened at $281.68 on Wednesday. The company has a quick ratio of 2.56, a current ratio of 2.56 and a debt-to-equity ratio of 1.26. LPL Financial Holdings Inc. has a twelve month low of $260.15 and a twelve month high of $403.58. The stock has a market capitalization of $22.53 billion, a P/E ratio of 25.15, a P/E/G ratio of 0.56 and a beta of 0.50. The company has a 50 day moving average of $296.63 and a 200-day moving average of $323.30.

LPL Financial (NASDAQ:LPLA) last announced its earnings results on Thursday, April 30th. The financial services provider reported $5.60 EPS for the quarter, topping the consensus estimate of $5.49 by $0.11. The business had revenue of $4.94 billion during the quarter, compared to analysts’ expectations of $4.98 billion. LPL Financial had a net margin of 4.93% and a return on equity of 31.26%. The firm’s revenue was up 34.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.15 earnings per share. As a group, equities research analysts forecast that LPL Financial Holdings Inc. will post 22.94 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $1.20 annualized dividend and a yield of 0.4%. LPL Financial’s payout ratio is 10.71%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on LPLA. Morgan Stanley cut their price objective on LPL Financial from $447.00 to $374.00 and set an “overweight” rating on the stock in a report on Friday, April 10th. TD Cowen dropped their target price on shares of LPL Financial from $330.00 to $326.00 and set a “hold” rating on the stock in a report on Friday, May 1st. Keefe, Bruyette & Woods started coverage on shares of LPL Financial in a research note on Wednesday, April 8th. They issued an “outperform” rating and a $350.00 price target on the stock. Jefferies Financial Group reduced their price target on shares of LPL Financial from $464.00 to $383.00 and set a “buy” rating for the company in a report on Monday, April 6th. Finally, Citizens Jmp reissued a “market outperform” rating and set a $500.00 price objective on shares of LPL Financial in a research report on Monday, April 6th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, LPL Financial presently has an average rating of “Moderate Buy” and a consensus price target of $398.86.

LPL Financial Company 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.