Dimensional Fund Advisors LP raised its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 5.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 846,067 shares of the financial services provider's stock after purchasing an additional 45,476 shares during the period. Dimensional Fund Advisors LP owned approximately 1.13% of LPL Financial worth $276,256,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in LPLA. SkyView Investment Advisors LLC boosted its stake in LPL Financial by 2.8% during the 3rd quarter. SkyView Investment Advisors LLC now owns 4,835 shares of the financial services provider's stock valued at $1,125,000 after purchasing an additional 131 shares during the last quarter. Anchor Investment Management LLC lifted its holdings in shares of LPL Financial by 15.6% during the 3rd quarter. Anchor Investment Management LLC now owns 9,669 shares of the financial services provider's stock valued at $2,249,000 after buying an additional 1,304 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of LPL Financial during the 3rd quarter valued at $182,000. Tidal Investments LLC lifted its holdings in shares of LPL Financial by 98.9% during the 3rd quarter. Tidal Investments LLC now owns 7,662 shares of the financial services provider's stock valued at $1,782,000 after buying an additional 3,809 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of LPL Financial by 15.7% during the 3rd quarter. Principal Financial Group Inc. now owns 25,418 shares of the financial services provider's stock valued at $5,913,000 after buying an additional 3,444 shares during the period. 95.66% of the stock is currently owned by hedge funds and other institutional investors.
LPL Financial Price Performance
LPLA traded down $1.30 on Friday, hitting $314.54. 428,773 shares of the company's stock traded hands, compared to its average volume of 829,593. The company's 50 day simple moving average is $327.56 and its 200-day simple moving average is $324.58. The firm has a market cap of $24.96 billion, a price-to-earnings ratio of 22.40, a P/E/G ratio of 0.94 and a beta of 0.64. LPL Financial Holdings Inc. has a one year low of $187.19 and a one year high of $384.04. 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 (NASDAQ:LPLA - Get Free Report) last issued its earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share (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%. As a group, research analysts anticipate that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.
LPL Financial Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.38%. The ex-dividend date was Tuesday, March 11th. LPL Financial's dividend payout ratio (DPR) is presently 8.55%.
Insider Activity at LPL Financial
In other LPL Financial news, CFO Matthew J. Audette sold 28,777 shares of LPL Financial stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $365.14, for a total value of $10,507,633.78. Following the sale, the chief financial officer now owns 13,663 shares of the company's stock, valued at $4,988,907.82. The trade was a 67.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Marc Eliot Cohen sold 1,100 shares of LPL Financial stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $365.85, for a total value of $402,435.00. Following the completion of the sale, the director now directly owns 4,075 shares in the company, valued at approximately $1,490,838.75. The trade was a 21.26 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,465 shares of company stock valued at $12,562,070. 1.30% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on LPLA shares. Keefe, Bruyette & Woods increased their price target on LPL Financial from $390.00 to $405.00 and gave the company an "outperform" rating in a report on Friday, January 31st. JPMorgan Chase & Co. increased their price target on LPL Financial from $397.00 to $405.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Wells Fargo & Company lowered their price target on LPL Financial from $405.00 to $342.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Morgan Stanley raised 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, Barclays cut their price target on LPL Financial from $414.00 to $365.00 and set an "overweight" rating for the company in a report on Monday, April 7th. One analyst has rated the stock with a sell rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $369.83.
Read Our Latest Report on LPL Financial
About LPL Financial
(
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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