Quantinno Capital Management LP Acquires 745 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Quantinno Capital Management LP grew its position in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 5.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,139 shares of the financial services provider's stock after purchasing an additional 745 shares during the quarter. Quantinno Capital Management LP's holdings in LPL Financial were worth $4,943,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Graney & King LLC acquired a new position in shares of LPL Financial during the fourth quarter worth about $30,000. Itau Unibanco Holding S.A. purchased a new stake in LPL Financial during the fourth quarter valued at about $42,000. Jones Financial Companies Lllp boosted its holdings in LPL Financial by 45.3% in the 4th quarter. Jones Financial Companies Lllp now owns 138 shares of the financial services provider's stock worth $45,000 after acquiring an additional 43 shares during the period. Atala Financial Inc acquired a new stake in LPL Financial during the fourth quarter valued at approximately $59,000. Finally, Compass Financial Services Inc acquired a new stake in LPL Financial during the fourth quarter worth about $65,000. Hedge funds and other institutional investors own 95.66% of the company's stock.

LPL Financial Stock Down 0.3%

NASDAQ:LPLA traded down $1.17 during midday trading on Tuesday, reaching $384.20. The company had a trading volume of 401,171 shares, compared to its average volume of 835,114. The stock's fifty day simple moving average is $328.88 and its 200-day simple moving average is $334.94. LPL Financial Holdings Inc. has a 12-month low of $187.19 and a 12-month high of $390.23. 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 firm has a market capitalization of $30.73 billion, a price-to-earnings ratio of 27.36, a PEG ratio of 0.94 and a beta of 0.65.

LPL Financial (NASDAQ:LPLA - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The financial services provider reported $5.15 earnings per share for the quarter, beating the consensus estimate of $4.54 by $0.61. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. The company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.63 billion. During the same period in the previous year, the firm posted $3.83 EPS. LPL Financial's revenue was up 4.5% on a year-over-year basis. On average, sell-side analysts anticipate that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 30th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.31%. LPL Financial's dividend payout ratio (DPR) is 8.30%.

Insider Transactions at LPL Financial

In other news, Director Marc Eliot Cohen sold 1,100 shares of the firm's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $365.85, for a total transaction 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. This trade represents a 21.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Matthew J. Audette sold 4,588 shares of the stock in a transaction dated 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. The trade was a 21.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.70% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Morgan Stanley increased their price target on shares of LPL Financial from $379.00 to $413.00 and gave the stock an "overweight" rating in a research report on Thursday, February 6th. UBS Group raised their target price on shares of LPL Financial from $390.00 to $420.00 and gave the company a "buy" rating in a research report on Friday, January 31st. Citigroup cut 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 note on Wednesday, April 2nd. StockNews.com raised LPL Financial from a "sell" rating to a "hold" rating in a report on Tuesday, May 13th. 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 assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $374.42.

LPL Financial Profile

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.