Boston Partners increased its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 26.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,905,541 shares of the financial services provider's stock after purchasing an additional 805,637 shares during the quarter. LPL Financial accounts for 1.6% of Boston Partners' portfolio, making the stock its 2nd largest position. Boston Partners owned about 5.22% of LPL Financial worth $1,278,454,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in shares of LPL Financial during the 4th quarter worth $295,982,000. FMR LLC lifted its stake in shares of LPL Financial by 24.4% during the 3rd quarter. FMR LLC now owns 3,322,571 shares of the financial services provider's stock valued at $772,930,000 after buying an additional 650,675 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of LPL Financial by 27.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider's stock valued at $296,635,000 after buying an additional 276,166 shares in the last quarter. Egerton Capital UK LLP purchased a new position in shares of LPL Financial during the 4th quarter valued at $84,145,000. Finally, Southpoint Capital Advisors LP lifted its stake in shares of LPL Financial by 50.0% during the 3rd quarter. Southpoint Capital Advisors LP now owns 750,000 shares of the financial services provider's stock valued at $174,472,000 after buying an additional 250,000 shares in the last quarter. Hedge funds and other institutional investors own 95.66% of the company's stock.
Insider Activity at LPL Financial
In related news, CFO Matthew J. Audette sold 28,777 shares of the company's stock in a transaction dated Wednesday, February 5th. The shares were 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 directly owns 13,663 shares in the company, valued at approximately $4,988,907.82. This represents a 67.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 transaction of $402,435.00. Following the completion of the sale, the director now directly 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,465 shares of company stock worth $12,562,070. Insiders own 1.30% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on LPLA. Barclays lifted their target price on shares of LPL Financial from $389.00 to $414.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Wells Fargo & Company lifted their target price on shares of LPL Financial from $390.00 to $405.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. JMP Securities reiterated a "market outperform" rating and issued a $435.00 price target on shares of LPL Financial in a report on Friday, January 31st. Keefe, Bruyette & Woods lifted 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. Finally, TD Cowen upgraded shares of LPL Financial from a "hold" rating to a "buy" rating and lifted their price target for the company from $277.00 to $413.00 in a report on Thursday, December 19th. Two equities research analysts have rated the stock with a sell rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, LPL Financial presently has a consensus rating of "Moderate Buy" and a consensus price target of $379.17.
Read Our Latest Analysis on LPLA
LPL Financial Price Performance
Shares of LPL Financial stock traded down $6.55 during trading hours on Friday, reaching $327.90. The company's stock had a trading volume of 828,191 shares, compared to its average volume of 743,830. The firm has a 50 day moving average price of $351.95 and a 200-day moving average price of $307.43. LPL Financial Holdings Inc. has a one year low of $187.19 and a one year high of $384.04. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. The stock has a market cap of $24.49 billion, a P/E ratio of 23.35, a P/E/G ratio of 0.94 and a beta of 0.82.
LPL Financial (NASDAQ:LPLA - Get Free Report) last posted its 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 net margin of 8.55% and a return on equity of 49.41%. On average, analysts predict that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.
LPL Financial Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th will be issued a dividend of $0.30 per share. The ex-dividend date is Tuesday, March 11th. This represents a $1.20 annualized dividend and a yield of 0.37%. LPL Financial's payout ratio is 8.55%.
LPL Financial Profile
(
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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