Camden National Bank Makes New $360,000 Investment in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Camden National Bank bought a new position in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,104 shares of the financial services provider's stock, valued at approximately $360,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wealth Alliance boosted its holdings in LPL Financial by 2.1% in the fourth quarter. Wealth Alliance now owns 1,483 shares of the financial services provider's stock worth $484,000 after acquiring an additional 30 shares in the last quarter. Sanchez Wealth Management Group boosted its holdings in LPL Financial by 2.1% in the fourth quarter. Sanchez Wealth Management Group now owns 1,686 shares of the financial services provider's stock worth $551,000 after acquiring an additional 35 shares in the last quarter. Mather Group LLC. boosted its holdings in LPL Financial by 4.1% in the fourth quarter. Mather Group LLC. now owns 916 shares of the financial services provider's stock worth $299,000 after acquiring an additional 36 shares in the last quarter. Bridges Investment Management Inc. boosted its holdings in LPL Financial by 3.2% in the third quarter. Bridges Investment Management Inc. now owns 1,185 shares of the financial services provider's stock worth $276,000 after acquiring an additional 37 shares in the last quarter. Finally, Avior Wealth Management LLC boosted its holdings in LPL Financial by 1.8% in the third quarter. Avior Wealth Management LLC now owns 2,416 shares of the financial services provider's stock worth $562,000 after acquiring an additional 42 shares in the last quarter. Hedge funds and other institutional investors own 95.66% of the company's stock.

LPL Financial Trading Down 0.9 %

Shares of NASDAQ:LPLA opened at $333.90 on Friday. LPL Financial Holdings Inc. has a 12-month low of $187.19 and a 12-month high of $384.04. The company has a market capitalization of $24.94 billion, a PE ratio of 23.78, a PEG ratio of 0.94 and a beta of 0.82. The business has a 50 day moving average of $353.65 and a two-hundred day moving average of $299.14. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60.

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LPL Financial (NASDAQ:LPLA - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The financial services provider reported $4.25 EPS for the quarter, beating analysts' consensus estimates of $4.01 by $0.24. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. As a group, analysts forecast that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date of this dividend is Tuesday, March 11th. LPL Financial's dividend payout ratio (DPR) is presently 8.55%.

Insider Activity

In related news, Director Marc Eliot Cohen sold 1,100 shares of the business's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $365.85, for a total transaction of $402,435.00. Following the completion of the sale, the director now directly owns 4,075 shares in the company, valued at approximately $1,490,838.75. The trade was a 21.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Matthew J. Audette sold 28,777 shares of the business's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $365.14, for a total value of $10,507,633.78. Following the sale, the chief financial officer now owns 13,663 shares of the company's stock, valued at $4,988,907.82. The trade was a 67.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,465 shares of company stock worth $12,562,070 over the last three months. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

LPLA has been the subject of several recent analyst reports. TD Cowen raised LPL Financial from a "hold" rating to a "buy" rating and raised their price target for the stock from $277.00 to $413.00 in a report on Thursday, December 19th. Citigroup lifted their target price on LPL Financial from $310.00 to $385.00 and gave the stock a "buy" rating in a report on Friday, January 10th. StockNews.com raised LPL Financial from a "sell" rating to a "hold" rating in a report on Saturday, November 9th. Wells Fargo & Company lifted their target price on LPL Financial from $390.00 to $405.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Finally, Keefe, Bruyette & Woods lifted their target price on LPL Financial from $390.00 to $405.00 and gave the stock an "outperform" rating in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $379.17.

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.

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