Annex Advisory Services LLC Has $4.03 Million Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Annex Advisory Services LLC lessened its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 20.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,351 shares of the financial services provider's stock after selling 3,255 shares during the period. Annex Advisory Services LLC's holdings in LPL Financial were worth $4,033,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Ashton Thomas Securities LLC bought a new stake in LPL Financial during the third quarter valued at $31,000. Paladin Wealth LLC bought a new position in LPL Financial in the third quarter worth about $34,000. Brooklyn Investment Group acquired a new position in LPL Financial in the third quarter valued at approximately $43,000. First Horizon Advisors Inc. raised its position in shares of LPL Financial by 32.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 385 shares of the financial services provider's stock worth $90,000 after purchasing an additional 94 shares during the period. Finally, Quarry LP lifted its holdings in shares of LPL Financial by 45.3% in the 2nd quarter. Quarry LP now owns 327 shares of the financial services provider's stock worth $91,000 after purchasing an additional 102 shares during the last quarter. Institutional investors and hedge funds own 95.66% of the company's stock.

Analysts Set New Price Targets

LPLA has been the topic of several analyst reports. JPMorgan Chase & Co. raised LPL Financial from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $288.00 to $397.00 in a research report on Tuesday, January 7th. UBS Group raised shares of LPL Financial from a "neutral" rating to a "buy" rating and set a $390.00 target price for the company in a research note on Monday, January 6th. Morgan Stanley raised their price target on shares of LPL Financial from $303.00 to $309.00 and gave the company an "overweight" rating in a research note on Thursday, October 17th. The Goldman Sachs Group boosted their price target on LPL Financial from $271.00 to $305.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Finally, TD Cowen raised LPL Financial from a "hold" rating to a "buy" rating and raised their price target for the company from $277.00 to $413.00 in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $351.50.

LPL Financial Stock Up 0.8 %

NASDAQ LPLA traded up $2.72 during trading on Monday, reaching $348.93. 445,040 shares of the company's stock were exchanged, compared to its average volume of 390,708. The company's fifty day simple moving average is $327.62 and its 200-day simple moving average is $267.75. 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 firm has a market capitalization of $26.13 billion, a PE ratio of 26.24, a P/E/G ratio of 1.03 and a beta of 0.87. LPL Financial Holdings Inc. has a fifty-two week low of $187.19 and a fifty-two week high of $350.38.

LPL Financial (NASDAQ:LPLA - Get Free Report) last released its earnings results on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $3.04 billion. During the same quarter in the prior year, the firm earned $3.74 EPS. The company's revenue was up 6.0% compared to the same quarter last year. Sell-side analysts predict that LPL Financial Holdings Inc. will post 16.07 EPS for the current year.

LPL Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.34%. LPL Financial's dividend payout ratio is currently 9.02%.

Insiders Place Their Bets

In other news, Director Aneri Jambusaria sold 305 shares of the business's stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $331.94, for a total value of $101,241.70. Following the completion of the sale, the director now directly owns 3,920 shares in the company, valued at approximately $1,301,204.80. The trade was a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.00% of the company's stock.

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.