21,322 Shares in LPL Financial Holdings Inc. $LPLA Purchased by CenterBook Partners LP

CenterBook Partners LP purchased a new position in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 21,322 shares of the financial services provider's stock, valued at approximately $7,616,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Osterweis Capital Management Inc. purchased a new position in LPL Financial in the second quarter worth about $26,000. Clearstead Advisors LLC grew its position in LPL Financial by 3,650.0% in the fourth quarter. Clearstead Advisors LLC now owns 75 shares of the financial services provider's stock worth $27,000 after acquiring an additional 73 shares in the last quarter. Steigerwald Gordon & Koch Inc. grew its position in LPL Financial by 550.0% in the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 78 shares of the financial services provider's stock worth $28,000 after acquiring an additional 66 shares in the last quarter. Core Wealth Advisors LLC purchased a new position in LPL Financial in the fourth quarter worth about $36,000. Finally, Graney & King LLC grew its position in LPL Financial by 49.5% in the second quarter. Graney & King LLC now owns 139 shares of the financial services provider's stock worth $52,000 after acquiring an additional 46 shares in the last quarter. Hedge funds and other institutional investors own 95.66% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on LPLA shares. JPMorgan Chase & Co. dropped their target price on LPL Financial from $396.00 to $390.00 and set an "overweight" rating for the company in a research report on Friday, May 1st. Morgan Stanley dropped their target price on LPL Financial from $447.00 to $374.00 and set an "overweight" rating for the company in a research report on Friday, April 10th. TD Cowen dropped their target price on LPL Financial from $330.00 to $326.00 and set a "hold" rating for the company in a research report on Friday, May 1st. William Blair restated an "outperform" rating on shares of LPL Financial in a research report on Thursday. Finally, Citizens Jmp restated a "market outperform" rating and set a $500.00 target price on shares of LPL Financial in a research report on Monday, April 6th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $398.86.

Insider Buying and Selling

In related news, CFO Matthew J. Audette sold 1,110 shares of the business's stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $330.01, for a total value of $366,311.10. Following the completion of the sale, the chief financial officer owned 19,803 shares in the company, valued at approximately $6,535,188.03. The trade was a 5.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Marc Eliot Cohen sold 1,088 shares of the business's stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $309.72, for a total transaction of $336,975.36. Following the completion of the transaction, the director directly owned 4,400 shares of the company's stock, valued at $1,362,768. This trade represents a 19.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 2,667 shares of company stock valued at $855,871 in the last quarter. 0.60% of the stock is owned by company insiders.

LPL Financial Price Performance

Shares of NASDAQ LPLA opened at $288.49 on Monday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.56 and a current ratio of 2.56. The firm has a market capitalization of $23.07 billion, a price-to-earnings ratio of 25.76, a PEG ratio of 0.59 and a beta of 0.50. The stock has a 50 day moving average price of $302.79 and a 200 day moving average price of $331.74. LPL Financial Holdings Inc. has a 52-week low of $260.15 and a 52-week high of $403.58.

LPL Financial (NASDAQ:LPLA - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The financial services provider reported $5.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.49 by $0.11. The firm had revenue of $4.94 billion during the quarter, compared to analyst estimates of $4.98 billion. LPL Financial had a return on equity of 31.26% and a net margin of 4.93%.LPL Financial's quarterly revenue was up 34.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.15 earnings per share. Sell-side analysts expect that LPL Financial Holdings Inc. will post 22.98 earnings per share for the current year.

LPL Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 21st were issued a $0.30 dividend. The ex-dividend date was Thursday, May 21st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.4%. LPL Financial's payout ratio is presently 10.71%.

LPL Financial Profile

LPL Financial NASDAQ: LPLA is a U.S.-focused financial services firm that provides brokerage, custodial and advisory platforms to independent financial advisors, registered investment advisers and institutions. Operating primarily as an independent broker-dealer and custodian, the company supports a network of advisors with the operational, compliance and clearing infrastructure needed to manage client accounts and deliver investment advice outside of traditional wirehouse models.

The firm's product and service offerings include trade execution and clearing, custody services, retirement plan services, model portfolio and advisory platforms, wealth management technology, investment research and product access across equities, fixed income, mutual funds, exchange-traded funds and insurance and annuity solutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.