Susquehanna Fundamental Investments LLC Makes New $24.39 Million Investment in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Susquehanna Fundamental Investments LLC purchased a new stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 74,696 shares of the financial services provider's stock, valued at approximately $24,389,000. Susquehanna Fundamental Investments LLC owned 0.10% of LPL Financial at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of LPLA. Principal Financial Group Inc. boosted its position in shares of LPL Financial by 15.7% in the third quarter. Principal Financial Group Inc. now owns 25,418 shares of the financial services provider's stock worth $5,913,000 after purchasing an additional 3,444 shares during the period. Truist Financial Corp grew its position in 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 acquiring an additional 14,106 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of LPL Financial by 4.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 31,209 shares of the financial services provider's stock valued at $10,190,000 after buying an additional 1,383 shares during the period. Bank of Montreal Can boosted its position in shares of LPL Financial by 46.9% during the fourth quarter. Bank of Montreal Can now owns 59,910 shares of the financial services provider's stock valued at $19,561,000 after buying an additional 19,126 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of LPL Financial by 4.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 335,749 shares of the financial services provider's stock valued at $109,625,000 after buying an additional 13,936 shares during the period. 95.66% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at LPL Financial

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

LPL Financial Stock Up 2.4 %

Shares of NASDAQ:LPLA traded up $7.81 during midday trading on Thursday, hitting $327.60. 305,107 shares of the company's stock traded hands, compared to its average volume of 825,341. 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 $25.99 billion, a PE ratio of 23.33, a P/E/G ratio of 0.94 and a beta of 0.64. The firm's fifty day moving average price is $323.96 and its two-hundred day moving average price is $324.98. LPL Financial Holdings Inc. has a twelve month low of $187.19 and a twelve month 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, topping 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%. On average, equities research analysts anticipate that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on LPLA. JMP Securities decreased their price target on shares of LPL Financial from $435.00 to $420.00 and set a "market outperform" rating for the company in a research note on Tuesday, April 8th. UBS Group boosted their price objective on shares of LPL Financial from $390.00 to $420.00 and gave the company a "buy" rating in a report on Friday, January 31st. Keefe, Bruyette & Woods raised 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. StockNews.com cut LPL Financial from a "hold" rating to a "sell" rating in a research report on Wednesday, March 26th. Finally, Citigroup lowered their price target on LPL Financial from $415.00 to $400.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $369.83.

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.