Egerton Capital UK LLP bought a new stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 257,710 shares of the financial services provider's stock, valued at approximately $84,145,000. LPL Financial comprises about 1.0% of Egerton Capital UK LLP's investment portfolio, making the stock its 25th biggest holding. Egerton Capital UK LLP owned approximately 0.34% of LPL Financial at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Raymond James Financial Inc. purchased a new stake in LPL Financial in the fourth quarter worth $295,982,000. FMR LLC increased its holdings in LPL Financial by 24.4% in the 3rd quarter. FMR LLC now owns 3,322,571 shares of the financial services provider's stock worth $772,930,000 after acquiring an additional 650,675 shares during the last quarter. JPMorgan Chase & Co. raised its stake in LPL Financial by 27.6% in 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 acquiring an additional 276,166 shares during the period. Southpoint Capital Advisors LP lifted its holdings in LPL Financial by 50.0% during the third quarter. Southpoint Capital Advisors LP now owns 750,000 shares of the financial services provider's stock valued at $174,472,000 after purchasing an additional 250,000 shares during the last quarter. Finally, Maverick Capital Ltd. boosted its position in LPL Financial by 82.0% during the third quarter. Maverick Capital Ltd. now owns 497,075 shares of the financial services provider's stock worth $115,635,000 after purchasing an additional 223,931 shares during the period. 95.66% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at LPL Financial
In other news, Director Marc Eliot Cohen sold 1,100 shares of the business's stock in a transaction that occurred on 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 sale, the director now directly owns 4,075 shares in the company, valued at approximately $1,490,838.75. The trade was a 21.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Matthew J. Audette sold 4,588 shares of the stock in a transaction 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 in the company, valued at approximately $5,954,837.66. This represents a 21.72 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 34,465 shares of company stock worth $12,562,070. 1.00% of the stock is currently owned by corporate insiders.
LPL Financial Price Performance
Shares of NASDAQ LPLA traded down $10.33 during midday trading on Thursday, hitting $308.87. 895,219 shares of the company's stock were exchanged, compared to its average volume of 782,632. 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's fifty day moving average price is $352.96 and its two-hundred day moving average price is $302.43. The company has a market cap of $23.07 billion, a price-to-earnings ratio of 22.00, a PEG ratio of 0.94 and a beta of 0.82. 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 quarterly earnings results on Thursday, January 30th. The financial services provider reported $4.25 EPS 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%. As a group, research analysts forecast that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.
LPL Financial Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.39%. The ex-dividend date of this dividend is Tuesday, March 11th. LPL Financial's dividend payout ratio (DPR) is currently 8.55%.
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on LPLA. Barclays upped their price target 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. JPMorgan Chase & Co. increased their target price on LPL Financial from $397.00 to $405.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Citigroup lifted their price target on LPL Financial from $310.00 to $385.00 and gave the company a "buy" rating in a research report on Friday, January 10th. TD Cowen upgraded LPL Financial from a "hold" rating to a "buy" rating and boosted their price objective for the company from $277.00 to $413.00 in a research note on Thursday, December 19th. Finally, UBS Group raised their target price on LPL Financial from $390.00 to $420.00 and gave the stock a "buy" rating in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $379.17.
Get Our Latest Research Report on LPLA
LPL Financial Company 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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