Aware Super Pty Ltd as trustee of Aware Super Takes $11.96 Million Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Aware Super Pty Ltd as trustee of Aware Super purchased a new stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 36,615 shares of the financial services provider's stock, valued at approximately $11,955,000.

Other large investors have also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of LPL Financial during the 4th quarter valued at $305,747,000. Raymond James Financial Inc. purchased a new position in LPL Financial in the fourth quarter valued at about $295,982,000. Boston Partners increased its position in LPL Financial by 26.0% in the 4th quarter. Boston Partners now owns 3,905,541 shares of the financial services provider's stock worth $1,278,454,000 after purchasing an additional 805,637 shares during the last quarter. Artisan Partners Limited Partnership purchased a new stake in shares of LPL Financial during the 4th quarter worth about $136,440,000. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of LPL Financial by 57.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,115,708 shares of the financial services provider's stock worth $364,290,000 after purchasing an additional 405,341 shares in the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.

Insider Activity at LPL Financial

In other LPL Financial news, Director Marc Eliot Cohen sold 1,100 shares of the business's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $365.85, for a total value of $402,435.00. Following the sale, the director now owns 4,075 shares of the company's stock, 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 SEC, which can be accessed through this link. Also, CFO Matthew J. Audette sold 4,588 shares of the firm's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $360.07, for a total transaction of $1,652,001.16. Following the transaction, the chief financial officer now directly owns 16,538 shares of the company's stock, valued at $5,954,837.66. The trade was a 21.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,465 shares of company stock worth $12,562,070. Company insiders own 1.30% of the company's stock.

LPL Financial Stock Performance

LPLA traded down $0.02 during midday trading on Friday, reaching $306.02. The company's stock had a trading volume of 413,918 shares, compared to its average volume of 825,788. 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 has a fifty day simple moving average of $334.18 and a 200 day simple moving average of $322.30. The stock has a market cap of $24.28 billion, a P/E ratio of 21.80, a PEG ratio of 0.94 and a beta of 0.64. LPL Financial Holdings Inc. has a twelve month low of $187.19 and a twelve month high of $384.04.

LPL Financial (NASDAQ:LPLA - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The financial services provider reported $4.25 earnings per share (EPS) for the quarter, topping 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%. Research analysts expect that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date was Tuesday, March 11th. LPL Financial's dividend payout ratio is currently 8.55%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. StockNews.com cut LPL Financial from a "hold" rating to a "sell" rating in a research note on Wednesday, March 26th. Citigroup decreased their target price on shares of LPL Financial from $415.00 to $400.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. UBS Group raised their price target on shares of LPL Financial from $390.00 to $420.00 and gave the company a "buy" rating in a report on Friday, January 31st. Barclays decreased their price objective on shares of LPL Financial from $414.00 to $365.00 and set an "overweight" rating for the company in a report on Monday, April 7th. Finally, JPMorgan Chase & Co. raised 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. One equities research analyst has rated the stock with a sell rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, LPL Financial presently has a consensus rating of "Moderate Buy" and an average target price of $369.83.

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.