GC Wealth Management RIA LLC Invests $216,000 in LPL Financial Holdings Inc. (NASDAQ:LPLA)

GC Wealth Management RIA LLC bought a new position in LPL Financial Holdings Inc. (NASDAQ:LPLA) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 663 shares of the financial services provider’s stock, valued at approximately $216,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Daiwa Securities Group Inc. boosted its holdings in shares of LPL Financial by 50.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 15,841 shares of the financial services provider’s stock worth $3,685,000 after purchasing an additional 5,320 shares during the period. Rockefeller Capital Management L.P. purchased a new position in shares of LPL Financial in the 3rd quarter worth approximately $2,633,000. Truist Financial Corp boosted its holdings in shares of LPL Financial by 7.9% in the 4th quarter. Truist Financial Corp now owns 192,153 shares of the financial services provider’s stock worth $62,740,000 after purchasing an additional 14,106 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of LPL Financial by 15.7% in the 3rd quarter. Principal Financial Group Inc. now owns 25,418 shares of the financial services provider’s stock worth $5,913,000 after purchasing an additional 3,444 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake in shares of LPL Financial by 4.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 31,209 shares of the financial services provider’s stock worth $10,190,000 after acquiring an additional 1,383 shares during the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Insider Transactions at LPL Financial

In related news, Director Marc Eliot Cohen sold 1,100 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 4,075 shares in the company, valued at $1,490,838.75. The trade was a 21.26 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Matthew J. Audette sold 4,588 shares of the business’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $360.07, for a total value of $1,652,001.16. Following the transaction, the chief financial officer now owns 16,538 shares in the company, valued at approximately $5,954,837.66. This trade represents a 21.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 34,465 shares of company stock valued at $12,562,070. Corporate insiders own 1.00% of the company’s stock.

LPL Financial Trading Up 0.7 %

LPLA opened at $313.23 on Wednesday. The firm has a market cap of $23.39 billion, a price-to-earnings ratio of 22.31, a PEG ratio of 0.94 and a beta of 0.82. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. LPL Financial Holdings Inc. has a 12 month low of $187.19 and a 12 month high of $384.04. The stock has a fifty day moving average price of $353.37 and a 200-day moving average price of $301.68.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings results on Thursday, January 30th. The financial services provider reported $4.25 EPS for the quarter, topping the consensus estimate 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, equities research analysts anticipate that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The business also recently declared 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 annualized dividend and a dividend yield of 0.38%. The ex-dividend date of this dividend is Tuesday, March 11th. LPL Financial’s payout ratio is 8.55%.

Analyst Upgrades and Downgrades

LPLA has been the subject of a number of research analyst reports. Barclays raised their price target on LPL Financial from $389.00 to $414.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Citigroup raised their price target on LPL Financial from $310.00 to $385.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Keefe, Bruyette & Woods raised their price target on LPL Financial from $390.00 to $405.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. UBS Group raised their price target on LPL Financial from $390.00 to $420.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Finally, Morgan Stanley raised their price target on LPL Financial from $379.00 to $413.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $379.17.

LPL Financial Company Profile

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.