Moore Capital Management LP Takes Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Moore Capital Management LP acquired a new stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 160,607 shares of the financial services provider's stock, valued at approximately $52,440,000. LPL Financial comprises 0.6% of Moore Capital Management LP's holdings, making the stock its 25th largest position. Moore Capital Management LP owned approximately 0.21% of LPL Financial as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Norges Bank acquired a new stake in shares of LPL Financial during the 4th quarter worth approximately $305,747,000. Raymond James Financial Inc. bought a new position in LPL Financial in the fourth quarter worth $295,982,000. Boston Partners boosted its stake in LPL Financial by 26.0% during the fourth quarter. Boston Partners now owns 3,905,541 shares of the financial services provider's stock worth $1,278,454,000 after buying an additional 805,637 shares in the last quarter. Janus Henderson Group PLC boosted its stake in LPL Financial by 20.6% during the fourth quarter. Janus Henderson Group PLC now owns 3,050,529 shares of the financial services provider's stock worth $996,032,000 after buying an additional 522,032 shares in the last quarter. Finally, Balyasny Asset Management L.P. bought a new stake in LPL Financial in the 4th quarter valued at $153,946,000. 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 firm's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $365.85, for a total value of $402,435.00. Following the transaction, the director now owns 4,075 shares of the company's stock, valued at approximately $1,490,838.75. This trade represents a 21.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Matthew J. Audette sold 4,588 shares of LPL Financial 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 sale, the chief financial officer now owns 16,538 shares of the company's stock, valued at approximately $5,954,837.66. This represents a 21.72% decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.

LPL Financial Price Performance

LPL Financial stock traded down $3.63 on Thursday, reaching $381.42. The company's stock had a trading volume of 742,839 shares, compared to its average volume of 834,538. The business's fifty day moving average price is $323.22 and its 200 day moving average price is $331.40. 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 company has a market cap of $30.26 billion, a price-to-earnings ratio of 27.17, a PEG ratio of 0.94 and a beta of 0.65. LPL Financial Holdings Inc. has a twelve month low of $187.19 and a twelve month high of $390.23.

LPL Financial (NASDAQ:LPLA - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The financial services provider reported $5.15 EPS for the quarter, topping analysts' consensus estimates of $4.54 by $0.61. LPL Financial had a net margin of 8.55% and a return on equity of 49.41%. The firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.63 billion. During the same quarter in the prior year, the firm earned $3.83 EPS. The company's revenue was up 4.5% on a year-over-year basis. 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 will be paid on Thursday, June 12th. Stockholders 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 dividend yield of 0.31%. LPL Financial's dividend payout ratio (DPR) is currently 8.30%.

Analyst Upgrades and Downgrades

LPLA has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their target price on shares of LPL Financial from $397.00 to $405.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. StockNews.com raised LPL Financial from a "sell" rating to a "hold" rating in a report on Tuesday. JMP Securities increased their target price on LPL Financial from $420.00 to $440.00 and gave the stock a "market outperform" rating in a report on Friday, May 9th. Wells Fargo & Company decreased their price target 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, Barclays upped their price target on LPL Financial from $365.00 to $400.00 and gave the company an "overweight" rating in a research report on Monday. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target 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.