Twinbeech Capital LP Grows Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Twinbeech Capital LP lifted its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 26.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,217 shares of the financial services provider's stock after purchasing an additional 3,365 shares during the quarter. Twinbeech Capital LP's holdings in LPL Financial were worth $5,295,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Anchor Investment Management LLC raised its stake in shares of LPL Financial by 0.3% during the fourth quarter. Anchor Investment Management LLC now owns 9,697 shares of the financial services provider's stock worth $3,166,000 after purchasing an additional 28 shares during the last quarter. Colonial Trust Co SC raised its stake in shares of LPL Financial by 6.1% during the fourth quarter. Colonial Trust Co SC now owns 505 shares of the financial services provider's stock worth $165,000 after purchasing an additional 29 shares during the last quarter. Wealth Alliance raised its stake in shares of LPL Financial by 2.1% during the fourth quarter. Wealth Alliance now owns 1,483 shares of the financial services provider's stock worth $484,000 after purchasing an additional 30 shares during the last quarter. United Capital Financial Advisors LLC raised its stake in shares of LPL Financial by 2.6% during the fourth quarter. United Capital Financial Advisors LLC now owns 1,203 shares of the financial services provider's stock worth $393,000 after purchasing an additional 31 shares during the last quarter. Finally, Sanchez Wealth Management Group raised its stake in shares of LPL Financial by 2.1% during the fourth quarter. Sanchez Wealth Management Group now owns 1,686 shares of the financial services provider's stock worth $551,000 after purchasing an additional 35 shares during the last quarter. Hedge funds and other institutional investors own 95.66% of the company's stock.

Insider Activity

In other news, CFO Matthew J. Audette sold 4,588 shares of the company's stock in a transaction on 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 sale, the chief financial officer now directly owns 16,538 shares in the company, valued at $5,954,837.66. This represents a 21.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Marc Eliot Cohen sold 1,100 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $365.85, for a total value of $402,435.00. Following the transaction, the director now owns 4,075 shares in the company, valued at $1,490,838.75. This trade represents a 21.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.70% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on LPLA shares. Keefe, Bruyette & Woods upped their price objective on LPL Financial from $390.00 to $405.00 and gave the stock an "outperform" rating in a report on Friday, January 31st. Barclays upped their price objective on LPL Financial from $365.00 to $400.00 and gave the stock an "overweight" rating in a report on Monday, May 12th. Morgan Stanley upped their price objective on LPL Financial from $330.00 to $450.00 and gave the stock an "overweight" rating in a report on Wednesday. Wells Fargo & Company dropped their price objective on LPL Financial from $405.00 to $342.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. upped their price objective on LPL Financial from $397.00 to $405.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. One analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $377.50.

LPL Financial Price Performance

LPL Financial stock traded down $4.90 during trading hours on Friday, hitting $372.50. The stock had a trading volume of 459,806 shares, compared to its average volume of 835,087. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. The stock has a market capitalization of $29.79 billion, a price-to-earnings ratio of 26.53, a PEG 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 stock's fifty day moving average is $331.91 and its two-hundred day moving average is $336.62.

LPL Financial (NASDAQ:LPLA - Get Free Report) last posted its 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. The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.63 billion. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. LPL Financial's revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.83 earnings per share. As a group, analysts predict that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 30th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.32%. The ex-dividend date of this dividend is Friday, May 30th. LPL Financial's dividend payout ratio (DPR) is 8.30%.

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.