Cinctive Capital Management LP Buys 35,843 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Cinctive Capital Management LP raised its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 109.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 68,701 shares of the financial services provider's stock after buying an additional 35,843 shares during the quarter. LPL Financial comprises 1.1% of Cinctive Capital Management LP's portfolio, making the stock its 12th largest position. Cinctive Capital Management LP owned approximately 0.09% of LPL Financial worth $22,432,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. Rockefeller Capital Management L.P. acquired a new stake in shares of LPL Financial during the 3rd quarter valued at approximately $2,633,000. ArrowMark Colorado Holdings LLC bought a new stake in shares of LPL Financial during the 3rd quarter valued at about $7,736,000. Centiva Capital LP acquired a new stake in LPL Financial during the third quarter worth about $2,528,000. Holocene Advisors LP boosted its stake in LPL Financial by 25.6% in the third quarter. Holocene Advisors LP now owns 278,783 shares of the financial services provider's stock valued at $64,853,000 after acquiring an additional 56,825 shares during the period. Finally, HighTower Advisors LLC increased its position in LPL Financial by 7.8% in the third quarter. HighTower Advisors LLC now owns 12,783 shares of the financial services provider's stock worth $2,971,000 after buying an additional 923 shares during the period. Institutional investors own 95.66% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on LPLA. Wells Fargo & Company lifted their price objective on shares of LPL Financial from $390.00 to $405.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. JPMorgan Chase & Co. increased their price objective on LPL Financial from $397.00 to $405.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. StockNews.com lowered LPL Financial from a "hold" rating to a "sell" rating in a research report on Wednesday, March 26th. Morgan Stanley increased their target price on shares of LPL Financial from $379.00 to $413.00 and gave the company an "overweight" rating in a research report on Thursday, February 6th. Finally, TD Cowen upgraded shares of LPL Financial from a "hold" rating to a "buy" rating and boosted their price target for the stock from $277.00 to $413.00 in a research report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $376.33.

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Insider Activity

In related news, CFO Matthew J. Audette sold 4,588 shares of the business's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $360.07, for a total transaction of $1,652,001.16. Following the transaction, the chief financial officer now directly owns 16,538 shares of the company's stock, valued at approximately $5,954,837.66. The trade was a 21.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Marc Eliot Cohen sold 1,100 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was 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 owns 4,075 shares of the company's stock, valued at approximately $1,490,838.75. The trade was 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 worth $12,562,070 in the last 90 days. Company insiders own 1.30% of the company's stock.

LPL Financial Trading Down 1.1 %

LPLA traded down $3.08 during trading on Monday, reaching $280.23. The company had a trading volume of 1,252,650 shares, compared to its average volume of 803,824. The firm's 50-day simple moving average is $348.34 and its 200 day simple moving average is $316.43. 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 $20.90 billion, a price-to-earnings ratio of 19.99, a PEG ratio of 0.94 and a beta of 0.64. LPL Financial Holdings Inc. has a 12-month low of $187.19 and a 12-month high of $384.04.

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 for the quarter, topping the consensus estimate of $4.01 by $0.24. LPL Financial had a net margin of 8.55% and a return on equity of 49.41%. Equities research analysts anticipate that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th were paid a dividend of $0.30 per share. The ex-dividend date was Tuesday, March 11th. This represents a $1.20 annualized dividend and a yield of 0.43%. LPL Financial's dividend payout ratio (DPR) is presently 8.55%.

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.