Entropy Technologies LP Takes $422,000 Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Entropy Technologies LP purchased a new position in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,292 shares of the financial services provider's stock, valued at approximately $422,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Daiwa Securities Group Inc. lifted its stake in shares of LPL Financial by 50.6% in the third quarter. Daiwa Securities Group Inc. now owns 15,841 shares of the financial services provider's stock worth $3,685,000 after buying an additional 5,320 shares in the last quarter. Rockefeller Capital Management L.P. purchased a new position in shares of LPL Financial in the third quarter worth about $2,633,000. Principal Financial Group Inc. lifted its stake in shares of LPL Financial by 15.7% in the third quarter. Principal Financial Group Inc. now owns 25,418 shares of the financial services provider's stock worth $5,913,000 after buying an additional 3,444 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of LPL Financial by 4.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 31,209 shares of the financial services provider's stock worth $10,190,000 after buying an additional 1,383 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in LPL Financial by 27.6% during the third quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider's stock worth $296,635,000 after purchasing an additional 276,166 shares during the period. 95.66% of the stock is owned by hedge funds and other institutional investors.

LPL Financial Trading Up 0.4 %

Shares of LPL Financial stock traded up $1.64 on Friday, reaching $373.98. The company had a trading volume of 581,964 shares, compared to its average volume of 575,145. The firm's 50 day moving average price is $343.93 and its two-hundred day moving average price is $284.71. The firm has a market cap of $28.00 billion, a PE ratio of 26.64, a PEG ratio of 0.93 and a beta of 0.87. LPL Financial Holdings Inc. has a 52-week low of $187.19 and a 52-week high of $376.11. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16.

LPL Financial (NASDAQ:LPLA - Get Free Report) last announced 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%. Sell-side analysts predict that LPL Financial Holdings Inc. will post 19.14 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors 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 0.32%. The ex-dividend date is Tuesday, March 11th. LPL Financial's payout ratio is currently 8.55%.

Insider Buying and Selling

In related news, Director Aneri Jambusaria sold 305 shares of the company's stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $331.94, for a total transaction of $101,241.70. Following the sale, the director now directly owns 3,920 shares of the company's stock, valued at $1,301,204.80. This represents a 7.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Matthew J. Audette sold 28,777 shares of the company's stock in a transaction that occurred on 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 approximately $4,988,907.82. The trade was a 67.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on LPLA shares. TD Cowen upgraded shares of LPL Financial from a "hold" rating to a "buy" rating and boosted their target price for the company from $277.00 to $413.00 in a report on Thursday, December 19th. JPMorgan Chase & Co. boosted their target price on shares of LPL Financial from $397.00 to $405.00 and gave the company an "overweight" rating in a report on Friday, January 31st. StockNews.com upgraded shares of LPL Financial from a "sell" rating to a "hold" rating in a report on Saturday, November 9th. Citigroup boosted their target price on shares of LPL Financial from $310.00 to $385.00 and gave the company a "buy" rating in a report on Friday, January 10th. Finally, UBS Group boosted their target price on shares of LPL Financial from $390.00 to $420.00 and gave the company a "buy" rating in a report on Friday, January 31st. 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $379.17.

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.