Adage Capital Partners GP L.L.C. Buys New Stake in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Adage Capital Partners GP L.L.C. bought a new stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 30,000 shares of the financial services provider's stock, valued at approximately $9,795,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LPLA. Graney & King LLC purchased a new stake in shares of LPL Financial during the 4th quarter worth about $30,000. Jones Financial Companies Lllp boosted its position in LPL Financial by 45.3% during the fourth quarter. Jones Financial Companies Lllp now owns 138 shares of the financial services provider's stock worth $45,000 after purchasing an additional 43 shares in the last quarter. Atala Financial Inc purchased a new position in LPL Financial during the fourth quarter worth approximately $59,000. Compass Financial Services Inc purchased a new position in LPL Financial during the fourth quarter worth approximately $65,000. Finally, R Squared Ltd purchased a new position in LPL Financial during the fourth quarter worth approximately $78,000. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other LPL Financial news, Director Marc Eliot Cohen sold 1,100 shares of the firm'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 completion of the sale, the director now owns 4,075 shares of the company's stock, valued at $1,490,838.75. This trade represents a 21.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Matthew J. Audette sold 4,588 shares of the firm'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 of the company's stock, valued at approximately $5,954,837.66. This represents a 21.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,465 shares of company stock valued at $12,562,070 over the last quarter. 1.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

LPLA has been the topic of a number of recent analyst reports. StockNews.com downgraded LPL Financial from a "hold" rating to a "sell" rating in a research report on Wednesday, March 26th. UBS Group increased their price target on LPL Financial from $390.00 to $420.00 and gave the stock a "buy" rating in a research report on Friday, January 31st. JPMorgan Chase & Co. increased their target price on LPL Financial from $397.00 to $405.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Keefe, Bruyette & Woods increased their target price on LPL Financial from $390.00 to $405.00 and gave the company an "outperform" rating in a report on Friday, January 31st. Finally, Morgan Stanley increased their target price on LPL Financial from $379.00 to $413.00 and gave the company an "overweight" rating in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, LPL Financial presently has an average rating of "Moderate Buy" and an average price target of $369.83.

LPL Financial Price Performance

NASDAQ:LPLA opened at $314.54 on Monday. LPL Financial Holdings Inc. has a one year low of $187.19 and a one year high of $384.04. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. The stock has a market cap of $24.96 billion, a PE ratio of 22.40, a P/E/G ratio of 0.94 and a beta of 0.64. The stock has a 50 day moving average price of $327.56 and a 200 day moving average price of $324.58.

LPL Financial (NASDAQ:LPLA - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The financial services provider reported $4.25 EPS for the quarter, beating 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%. Equities research analysts expect that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

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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