Lighthouse Investment Partners LLC Buys Shares of 42,987 LPL Financial Holdings Inc. (NASDAQ:LPLA)

Lighthouse Investment Partners LLC bought a new position in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 42,987 shares of the financial services provider's stock, valued at approximately $14,036,000. Lighthouse Investment Partners LLC owned 0.06% of LPL Financial as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Truist Financial Corp lifted its position in shares of LPL Financial by 7.9% in the fourth quarter. Truist Financial Corp now owns 192,153 shares of the financial services provider's stock worth $62,740,000 after buying an additional 14,106 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of LPL Financial by 4.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 31,209 shares of the financial services provider's stock worth $10,190,000 after buying an additional 1,383 shares during the last quarter. Bank of Montreal Can lifted its position in shares of LPL Financial by 46.9% in the fourth quarter. Bank of Montreal Can now owns 59,910 shares of the financial services provider's stock worth $19,561,000 after buying an additional 19,126 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of LPL Financial by 4.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 335,749 shares of the financial services provider's stock worth $109,625,000 after buying an additional 13,936 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of LPL Financial by 27.6% in the third quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider's stock worth $296,635,000 after buying an additional 276,166 shares during the last quarter. Institutional investors and hedge funds own 95.66% of the company's stock.

Insider Buying and Selling at LPL Financial

In other news, Director Marc Eliot Cohen sold 1,100 shares of the business's 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 transaction, the director now directly owns 4,075 shares of the company's stock, valued at $1,490,838.75. The trade was a 21.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Matthew J. Audette sold 4,588 shares of the business'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 value of $1,652,001.16. Following the completion of the transaction, the chief financial officer now directly owns 16,538 shares in the company, valued at $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. Company insiders own 1.30% of the company's stock.

LPL Financial Price Performance

NASDAQ LPLA traded up $3.19 during trading on Friday, reaching $384.61. 421,000 shares of the company traded hands, compared to its average volume of 834,422. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. The stock's 50 day moving average price is $326.05 and its two-hundred day moving average price is $333.03. The company has a market cap of $30.76 billion, a price-to-earnings ratio of 27.39, a P/E/G 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.

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

LPL Financial Dividend Announcement

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

Wall Street Analyst Weigh In

LPLA has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods lifted their price objective on LPL Financial from $390.00 to $405.00 and gave the stock an "outperform" rating in a research note on Friday, January 31st. JPMorgan Chase & Co. lifted their price objective on LPL Financial from $397.00 to $405.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. Morgan Stanley lifted their price objective on LPL Financial from $379.00 to $413.00 and gave the stock an "overweight" rating in a research note on Thursday, February 6th. 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 research note on Tuesday, April 8th. Finally, StockNews.com upgraded LPL Financial from a "sell" rating to a "hold" rating in a research note on Tuesday. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, LPL Financial presently has a consensus rating of "Moderate Buy" and an average target price 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.