Principal Financial Group Inc. Acquires 3,444 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Principal Financial Group Inc. lifted its position in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 15.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,418 shares of the financial services provider's stock after acquiring an additional 3,444 shares during the period. Principal Financial Group Inc.'s holdings in LPL Financial were worth $5,913,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of LPLA. Ashton Thomas Private Wealth LLC bought a new position in shares of LPL Financial during the second quarter worth $25,000. Tortoise Investment Management LLC lifted its holdings in LPL Financial by 74.7% during the second quarter. Tortoise Investment Management LLC now owns 131 shares of the financial services provider's stock worth $37,000 after acquiring an additional 56 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of LPL Financial during the third quarter worth about $31,000. Paladin Wealth LLC bought a new position in shares of LPL Financial during the 3rd quarter valued at about $34,000. Finally, Brooklyn Investment Group acquired a new position in shares of LPL Financial in the 3rd quarter valued at approximately $43,000. Institutional investors own 95.66% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. The Goldman Sachs Group raised their target price on shares of LPL Financial from $271.00 to $305.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Morgan Stanley raised their price objective on shares of LPL Financial from $303.00 to $309.00 and gave the stock an "overweight" rating in a report on Thursday, October 17th. Keefe, Bruyette & Woods upped their target price on shares of LPL Financial from $325.00 to $390.00 and gave the stock an "outperform" rating in a research note on Friday, December 20th. JMP Securities reissued a "market outperform" rating and issued a $310.00 price target on shares of LPL Financial in a research note on Wednesday, October 9th. Finally, Barclays upped their price objective on LPL Financial from $311.00 to $378.00 and gave the stock an "overweight" rating in a research report on Monday, December 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $322.75.

Insider Activity at LPL Financial

In other LPL Financial news, Director Aneri Jambusaria sold 305 shares of the firm's stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $331.94, for a total transaction of $101,241.70. Following the completion of the sale, the director now directly owns 3,920 shares in the company, valued at $1,301,204.80. This trade represents a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.30% of the stock is owned by company insiders.

LPL Financial Stock Up 0.5 %

LPLA traded up $1.49 during trading on Thursday, reaching $328.00. 657,356 shares of the stock were exchanged, compared to its average volume of 706,953. The stock has a market cap of $24.56 billion, a P/E ratio of 24.66, a price-to-earnings-growth ratio of 1.60 and a beta of 0.86. 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 $315.52 and its two-hundred day moving average price is $263.65. LPL Financial Holdings Inc. has a twelve month low of $187.19 and a twelve month high of $336.40.

LPL Financial (NASDAQ:LPLA - Get Free Report) last issued its earnings results on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.69 by $0.47. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. The company had revenue of $3.11 billion for the quarter, compared to analysts' expectations of $3.04 billion. During the same period in the prior year, the firm earned $3.74 EPS. LPL Financial's quarterly revenue was up 6.0% compared to the same quarter last year. Equities analysts expect that LPL Financial Holdings Inc. will post 16.1 EPS for the current year.

LPL Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th were paid a dividend of $0.30 per share. The ex-dividend date was Thursday, November 14th. This represents a $1.20 annualized dividend and a dividend yield of 0.37%. LPL Financial's dividend payout ratio is currently 9.02%.

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.