Kayne Anderson Rudnick Investment Management LLC increased its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 2.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,660,736 shares of the financial services provider's stock after purchasing an additional 57,485 shares during the period. LPL Financial makes up approximately 2.0% of Kayne Anderson Rudnick Investment Management LLC's portfolio, making the stock its 4th largest position. Kayne Anderson Rudnick Investment Management LLC owned about 3.55% of LPL Financial worth $868,757,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in LPLA. SkyView Investment Advisors LLC boosted its holdings in LPL Financial by 2.8% during the third quarter. SkyView Investment Advisors LLC now owns 4,835 shares of the financial services provider's stock worth $1,125,000 after buying an additional 131 shares in the last quarter. Anchor Investment Management LLC increased its position in shares of LPL Financial by 15.6% in the third quarter. Anchor Investment Management LLC now owns 9,669 shares of the financial services provider's stock valued at $2,249,000 after buying an additional 1,304 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of LPL Financial in the third quarter valued at $182,000. Tidal Investments LLC raised its stake in shares of LPL Financial by 98.9% during the 3rd quarter. Tidal Investments LLC now owns 7,662 shares of the financial services provider's stock worth $1,782,000 after buying an additional 3,809 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of LPL Financial by 15.7% in the 3rd quarter. Principal Financial Group Inc. now owns 25,418 shares of the financial services provider's stock worth $5,913,000 after buying an additional 3,444 shares in 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, CFO Matthew J. Audette sold 4,588 shares of the business's stock in a transaction on Wednesday, February 26th. The shares were 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 directly owns 16,538 shares of the company's stock, valued at approximately $5,954,837.66. The trade was a 21.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Marc Eliot Cohen sold 1,100 shares of the firm's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $365.85, for a total transaction of $402,435.00. Following the sale, the director now directly 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,465 shares of company stock valued at $12,562,070 over the last three months. 1.30% of the stock is owned by company insiders.
Analyst Ratings Changes
Several analysts have issued reports on LPLA shares. Keefe, Bruyette & Woods upped their price target on shares of LPL Financial from $390.00 to $405.00 and gave the company an "outperform" rating in a report on Friday, January 31st. Morgan Stanley increased their target price on LPL Financial from $379.00 to $413.00 and gave the company an "overweight" rating in a report on Thursday, February 6th. JPMorgan Chase & Co. boosted their price target on LPL Financial from $397.00 to $405.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. StockNews.com lowered LPL Financial from a "hold" rating to a "sell" rating in a research note on Wednesday, March 26th. Finally, UBS Group boosted their target price on shares of LPL Financial from $390.00 to $420.00 and gave the company a "buy" rating in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, LPL Financial has a consensus rating of "Moderate Buy" and a consensus target price of $369.83.
View Our Latest Report on LPL Financial
LPL Financial Trading Down 0.1 %
NASDAQ:LPLA traded down $0.38 on Friday, hitting $315.46. 237,294 shares of the stock were exchanged, compared to its average volume of 827,352. The stock has a fifty day moving average of $328.87 and a 200-day moving average of $322.96. The stock has a market cap of $25.03 billion, a PE ratio of 22.45, a PEG ratio of 0.94 and a beta of 0.64. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. LPL Financial Holdings Inc. has a fifty-two week low of $187.19 and a fifty-two week high of $384.04.
LPL Financial (NASDAQ:LPLA - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share for the quarter, beating analysts' consensus estimates of $4.01 by $0.24. LPL Financial had a net margin of 8.55% and a return on equity of 49.41%. As a group, equities analysts expect that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.
LPL Financial Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th were issued a $0.30 dividend. The ex-dividend date was Tuesday, March 11th. This represents a $1.20 annualized dividend and a yield of 0.38%. LPL Financial's dividend payout ratio is currently 8.55%.
About LPL Financial
(
Free Report)
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.
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