Jefferies Financial Group Inc. Boosts Stock Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Jefferies Financial Group Inc. boosted its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 143.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,400 shares of the financial services provider's stock after buying an additional 10,266 shares during the quarter. Jefferies Financial Group Inc.'s holdings in LPL Financial were worth $5,681,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LPLA. Anchor Investment Management LLC lifted its stake in 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 in the last quarter. Colonial Trust Co SC raised its holdings in shares of LPL Financial by 6.1% in the 4th quarter. Colonial Trust Co SC now owns 505 shares of the financial services provider's stock valued at $165,000 after buying an additional 29 shares during the period. Wealth Alliance lifted its stake in LPL Financial by 2.1% during the 4th quarter. Wealth Alliance now owns 1,483 shares of the financial services provider's stock worth $484,000 after acquiring an additional 30 shares in the last quarter. United Capital Financial Advisors LLC boosted its holdings in LPL Financial by 2.6% during the 4th quarter. United Capital Financial Advisors LLC now owns 1,203 shares of the financial services provider's stock valued at $393,000 after acquiring an additional 31 shares during the period. Finally, Sanchez Wealth Management Group grew its position in LPL Financial by 2.1% in the 4th quarter. Sanchez Wealth Management Group now owns 1,686 shares of the financial services provider's stock valued at $551,000 after acquiring an additional 35 shares in the last quarter. Hedge funds and other institutional investors own 95.66% of the company's stock.

Insider Activity at LPL Financial

In other news, Director Marc Eliot Cohen sold 1,100 shares of the 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 of the company's stock, valued at approximately $1,490,838.75. This represents a 21.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Matthew J. Audette sold 4,588 shares of the firm's stock in a transaction that occurred on 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 owns 16,538 shares in the company, valued at approximately $5,954,837.66. This trade represents a 21.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

LPL Financial Stock Down 0.9%

Shares of LPLA traded down $3.63 during mid-day trading on Thursday, reaching $381.42. The company's stock had a trading volume of 742,839 shares, compared to its average volume of 832,903. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. LPL Financial Holdings Inc. has a 12-month low of $187.19 and a 12-month high of $390.23. The stock has a market cap of $30.26 billion, a PE ratio of 27.17, a price-to-earnings-growth ratio of 0.94 and a beta of 0.65. The company's 50 day moving average is $323.22 and its 200 day moving average is $331.40.

LPL Financial (NASDAQ:LPLA - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The financial services provider reported $5.15 EPS for the quarter, beating the consensus estimate of $4.54 by $0.61. LPL Financial had a net margin of 8.55% and a return on equity of 49.41%. The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.63 billion. During the same period in the prior year, the firm posted $3.83 earnings per share. The firm's revenue was up 4.5% on a year-over-year basis. Equities analysts anticipate that LPL Financial Holdings Inc. will post 19.35 EPS 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. Investors of record on Friday, May 30th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.20 annualized dividend and a yield of 0.31%. LPL Financial's dividend payout ratio is currently 8.30%.

Wall Street Analysts Forecast Growth

LPLA has been the topic of several research reports. JPMorgan Chase & Co. increased their price target on shares of LPL Financial from $397.00 to $405.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Keefe, Bruyette & Woods raised their price target on shares of LPL Financial from $390.00 to $405.00 and gave the company an "outperform" rating in a research report on Friday, January 31st. Morgan Stanley upped their price objective on LPL Financial from $379.00 to $413.00 and gave the stock an "overweight" rating in a research report on Thursday, February 6th. Wells Fargo & Company decreased 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. Finally, Citigroup cut their price target on LPL Financial from $415.00 to $400.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, LPL Financial currently has a consensus rating of "Moderate Buy" and a consensus target price of $374.42.

About LPL Financial

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.