Cigna Investments Inc. New Acquires Shares of 746 LPL Financial Holdings Inc. (NASDAQ:LPLA)

Cigna Investments Inc. New purchased a new position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 746 shares of the financial services provider's stock, valued at approximately $244,000.

A number of other hedge funds have also recently added to or reduced their stakes in LPLA. Ashton Thomas Securities LLC acquired a new stake in LPL Financial in the third quarter worth about $31,000. Paladin Wealth LLC bought a new position in shares of LPL Financial in the 3rd quarter valued at about $34,000. Brooklyn Investment Group acquired a new stake in shares of LPL Financial during the 3rd quarter worth approximately $43,000. Compass Financial Services Inc bought a new stake in shares of LPL Financial during the fourth quarter worth approximately $65,000. Finally, R Squared Ltd bought a new stake in shares of LPL Financial during the fourth quarter worth approximately $78,000. Institutional investors own 95.66% of the company's stock.

LPL Financial Stock Up 0.4 %

Shares of LPLA stock traded up $1.64 during trading hours on Friday, hitting $373.98. 581,964 shares of the company were exchanged, compared to its average volume of 575,145. LPL Financial Holdings Inc. has a 52 week low of $187.19 and a 52 week high of $376.11. 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 business has a 50 day moving average of $343.93 and a two-hundred day moving average of $284.26. The company has a market capitalization of $28.00 billion, a PE ratio of 26.64, a PEG ratio of 0.93 and a beta of 0.87.

LPL Financial (NASDAQ:LPLA - Get Free Report) last released its earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share (EPS) 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%. Analysts anticipate that LPL Financial Holdings Inc. will post 19.14 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date is Tuesday, March 11th. LPL Financial's dividend payout ratio is presently 8.55%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. StockNews.com raised shares of LPL Financial from a "sell" rating to a "hold" rating in a report on Saturday, November 9th. JPMorgan Chase & Co. lifted their price objective on LPL Financial from $397.00 to $405.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. JMP Securities reiterated a "market outperform" rating and issued a $435.00 price objective on shares of LPL Financial in a report on Friday, January 31st. TD Cowen upgraded LPL Financial from a "hold" rating to a "buy" rating and raised their target price for the stock from $277.00 to $413.00 in a report on Thursday, December 19th. Finally, Wells Fargo & Company upped their price target on LPL Financial from $390.00 to $405.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, LPL Financial has an average rating of "Moderate Buy" and a consensus price target of $379.17.

Insider Buying and Selling at LPL Financial

In related news, Director Aneri Jambusaria sold 305 shares of the firm'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 transaction, the director now owns 3,920 shares of the company's stock, valued at approximately $1,301,204.80. This trade represents a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Matthew J. Audette sold 28,777 shares of the business's stock in a transaction dated 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 sale, the chief financial officer now directly owns 13,663 shares in the company, valued at $4,988,907.82. This trade represents a 67.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.30% of the company's stock.

LPL Financial Company 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.