Dodge & Cox Increases Stake in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Dodge & Cox increased its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 2,922.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 470,109 shares of the financial services provider's stock after purchasing an additional 454,553 shares during the period. Dodge & Cox owned approximately 0.63% of LPL Financial worth $153,495,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of LPL Financial in the fourth quarter worth approximately $305,747,000. Raymond James Financial Inc. bought a new stake in shares of LPL Financial during the fourth quarter worth $295,982,000. Boston Partners boosted its stake in shares of LPL Financial by 26.0% during the fourth quarter. Boston Partners now owns 3,905,541 shares of the financial services provider's stock valued at $1,278,454,000 after purchasing an additional 805,637 shares during the period. Artisan Partners Limited Partnership purchased a new position in LPL Financial in the 4th quarter worth about $136,440,000. Finally, Massachusetts Financial Services Co. MA lifted its holdings in LPL Financial by 57.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,115,708 shares of the financial services provider's stock valued at $364,290,000 after buying an additional 405,341 shares in the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at LPL Financial

In other LPL Financial news, Director Marc Eliot Cohen sold 1,100 shares of LPL Financial 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 completion of the sale, the director now owns 4,075 shares of the company's stock, valued at approximately $1,490,838.75. The trade was a 21.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Matthew J. Audette sold 28,777 shares of the firm's stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $365.14, for a total value of $10,507,633.78. Following the completion of the transaction, the chief financial officer now owns 13,663 shares of the company's stock, valued at approximately $4,988,907.82. The trade was a 67.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,465 shares of company stock worth $12,562,070. 1.30% of the stock is owned by corporate insiders.

LPL Financial Stock Down 0.0 %

Shares of LPLA stock traded down $0.02 during trading hours on Friday, reaching $306.02. 413,918 shares of the company's stock were exchanged, compared to its average volume of 825,788. LPL Financial Holdings Inc. has a fifty-two week low of $187.19 and a fifty-two week high of $384.04. The stock's 50 day moving average is $334.18 and its 200-day moving average is $321.70. 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 company has a market cap of $24.28 billion, a price-to-earnings ratio of 21.80, a P/E/G ratio of 0.94 and a beta of 0.64.

LPL Financial (NASDAQ:LPLA - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The financial services provider reported $4.25 EPS for the quarter, beating analysts' consensus estimates of $4.01 by $0.24. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. Analysts predict that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.39%. The ex-dividend date was Tuesday, March 11th. LPL Financial's dividend payout ratio is presently 8.55%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on LPLA. Keefe, Bruyette & Woods boosted their price target on LPL Financial from $390.00 to $405.00 and gave the company an "outperform" rating in a report on Friday, January 31st. Citigroup dropped their price target on LPL Financial from $415.00 to $400.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Wells Fargo & Company lowered their price objective on shares of LPL Financial from $405.00 to $342.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Barclays cut their target price on shares of LPL Financial from $414.00 to $365.00 and set an "overweight" rating on the stock in a research report on Monday, April 7th. Finally, StockNews.com cut shares of LPL Financial from a "hold" rating to a "sell" rating in a research report on Wednesday, March 26th. One analyst has rated the stock with a sell rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, LPL Financial presently has an average rating of "Moderate Buy" and an average target price of $369.83.

LPL Financial Company 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.