Benjamin Edwards Inc. acquired a new position in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 765 shares of the financial services provider's stock, valued at approximately $250,000.
Other large investors have also added to or reduced their stakes in the company. Boston Partners boosted its holdings in LPL Financial by 26.0% during the 4th quarter. Boston Partners now owns 3,905,541 shares of the financial services provider's stock valued at $1,278,454,000 after acquiring an additional 805,637 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in LPL Financial by 2.2% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,660,736 shares of the financial services provider's stock valued at $868,757,000 after acquiring an additional 57,485 shares during the period. Geode Capital Management LLC boosted its holdings in LPL Financial by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 1,459,942 shares of the financial services provider's stock valued at $475,946,000 after acquiring an additional 23,111 shares during the period. JPMorgan Chase & Co. boosted its holdings in LPL Financial by 27.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider's stock valued at $296,635,000 after acquiring an additional 276,166 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its holdings in 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 valued at $364,290,000 after acquiring an additional 405,341 shares during the period. Institutional investors own 95.66% of the company's stock.
Insider Buying and Selling
In related news, CFO Matthew J. Audette sold 4,588 shares of the company'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. This represents a 21.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Marc Eliot Cohen sold 1,100 shares of the company's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $365.85, for a total value of $402,435.00. Following the transaction, the director now directly owns 4,075 shares in the company, valued at $1,490,838.75. This represents a 21.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.
Analyst Ratings Changes
A number of research firms recently issued reports on LPLA. UBS Group boosted their price objective on LPL Financial from $390.00 to $420.00 and gave the company a "buy" rating in a report on Friday, January 31st. JMP Securities boosted their price objective on LPL Financial from $420.00 to $440.00 and gave the company a "market outperform" rating in a report on Friday, May 9th. Keefe, Bruyette & Woods upped 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. Morgan Stanley upped their target price on LPL Financial from $379.00 to $413.00 and gave the stock an "overweight" rating in a report on Thursday, February 6th. Finally, Wells Fargo & Company lowered their target price on LPL Financial from $405.00 to $342.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, LPL Financial has a consensus rating of "Moderate Buy" and a consensus target price of $374.42.
View Our Latest Stock Analysis on LPLA
LPL Financial Stock Down 0.9%
Shares of NASDAQ LPLA traded down $3.63 during mid-day trading on Thursday, reaching $381.42. 742,839 shares of the company were exchanged, compared to its average volume of 832,903. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60. The stock has a market cap of $30.26 billion, a price-to-earnings ratio of 27.17, a P/E/G ratio of 0.94 and a beta of 0.65. LPL Financial Holdings Inc. has a 1 year low of $187.19 and a 1 year high of $390.23. The firm has a 50-day moving average of $323.22 and a 200 day moving average of $331.40.
LPL Financial (NASDAQ:LPLA - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The financial services provider reported $5.15 earnings per share for the quarter, topping analysts' consensus estimates of $4.54 by $0.61. The firm had revenue of $3.67 billion during the quarter, compared to analysts' expectations of $3.63 billion. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. The firm's quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the business posted $3.83 EPS. On average, 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 will be paid on Thursday, June 12th. Investors of record on Friday, May 30th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date is Friday, May 30th. LPL Financial's dividend payout ratio (DPR) is currently 8.30%.
LPL Financial Company Profile
(
Free Report)
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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