1,822 Shares in LPL Financial Holdings Inc. (NASDAQ:LPLA) Purchased by Summit Trail Advisors LLC

Summit Trail Advisors LLC bought a new stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,822 shares of the financial services provider's stock, valued at approximately $595,000.

A number of other institutional investors have also recently modified their holdings of LPLA. Sanchez Wealth Management Group lifted its stake in LPL Financial by 2.1% in the 4th quarter. Sanchez Wealth Management Group now owns 1,686 shares of the financial services provider's stock valued at $551,000 after buying an additional 35 shares in the last quarter. Mather Group LLC. lifted its stake in LPL Financial by 4.1% in the 4th quarter. Mather Group LLC. now owns 916 shares of the financial services provider's stock valued at $299,000 after buying an additional 36 shares in the last quarter. Bridges Investment Management Inc. lifted its stake in LPL Financial by 3.2% in the 3rd quarter. Bridges Investment Management Inc. now owns 1,185 shares of the financial services provider's stock valued at $276,000 after buying an additional 37 shares in the last quarter. Avior Wealth Management LLC lifted its stake in LPL Financial by 1.8% in the 3rd quarter. Avior Wealth Management LLC now owns 2,416 shares of the financial services provider's stock valued at $562,000 after buying an additional 42 shares in the last quarter. Finally, MFA Wealth Advisors LLC lifted its stake in LPL Financial by 3.9% in the 3rd quarter. MFA Wealth Advisors LLC now owns 1,148 shares of the financial services provider's stock valued at $267,000 after buying an additional 43 shares in the last quarter. 95.66% of the stock is currently owned by institutional investors and hedge funds.

LPL Financial Trading Up 0.4 %

LPL Financial stock traded up $1.64 during trading on Friday, hitting $373.98. The company had a trading volume of 581,964 shares, compared to its average volume of 575,145. LPL Financial Holdings Inc. has a 1-year low of $187.19 and a 1-year high of $376.11. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. The company's 50 day simple moving average is $343.93 and its 200-day simple moving average is $284.26. The stock has a market cap of $28.00 billion, a price-to-earnings ratio of 26.64, a price-to-earnings-growth ratio of 0.93 and a beta of 0.87.

LPL Financial (NASDAQ:LPLA - Get Free Report) last posted its earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share for the quarter, beating the consensus estimate of $4.01 by $0.24. LPL Financial had a net margin of 8.55% and a return on equity of 49.41%. As a group, analysts expect that LPL Financial Holdings Inc. will post 19.14 EPS for the current fiscal year.

LPL Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $1.20 annualized dividend and a dividend yield of 0.32%. LPL Financial's dividend payout ratio (DPR) is 8.55%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. The Goldman Sachs Group raised their target price on shares of LPL Financial from $271.00 to $305.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. Citigroup raised their target price on shares of LPL Financial from $310.00 to $385.00 and gave the stock a "buy" rating in a research note on Friday, January 10th. Morgan Stanley raised their target price on shares of LPL Financial from $379.00 to $413.00 and gave the stock an "overweight" rating in a research note on Thursday, February 6th. StockNews.com raised shares of LPL Financial from a "sell" rating to a "hold" rating in a research note on Saturday, November 9th. Finally, TD Cowen raised shares of LPL Financial from a "hold" rating to a "buy" rating and raised their target price for the stock from $277.00 to $413.00 in a research note on Thursday, December 19th. One research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $379.17.

Insiders Place Their Bets

In other LPL Financial news, CFO Matthew J. Audette sold 28,777 shares of the business's stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $365.14, for a total value of $10,507,633.78. Following the completion of the transaction, the chief financial officer now owns 13,663 shares in the company, valued at $4,988,907.82. The trade was a 67.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Aneri Jambusaria sold 305 shares of the business's stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $331.94, for a total transaction of $101,241.70. Following the completion of the transaction, the director now owns 3,920 shares of the company's stock, valued at approximately $1,301,204.80. This trade represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.30% of the company's stock.

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.