ExodusPoint Capital Management LP Grows Stake in LPL Financial Holdings Inc. (NASDAQ:LPLA)

ExodusPoint Capital Management LP increased its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 109.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 135,475 shares of the financial services provider's stock after buying an additional 70,940 shares during the quarter. ExodusPoint Capital Management LP owned about 0.18% of LPL Financial worth $44,234,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Boston Partners raised its holdings in LPL Financial by 26.0% in the 4th quarter. Boston Partners now owns 3,905,541 shares of the financial services provider's stock valued at $1,278,454,000 after buying an additional 805,637 shares during the last quarter. Geode Capital Management LLC increased its position in LPL Financial by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 1,459,942 shares of the financial services provider's stock valued at $475,946,000 after acquiring an additional 23,111 shares during the period. JPMorgan Chase & Co. raised its stake in shares of 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 valued at $296,635,000 after acquiring an additional 276,166 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of LPL Financial by 57.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,115,708 shares of the financial services provider's stock worth $364,290,000 after purchasing an additional 405,341 shares during the period. Finally, Norges Bank bought a new stake in shares of LPL Financial in the fourth quarter worth $305,747,000. 95.66% of the stock is owned by institutional investors and hedge funds.

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Insider Activity

In other news, CFO Matthew J. Audette sold 28,777 shares of the stock in a transaction 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 completion of the transaction, the chief financial officer now owns 13,663 shares in the company, valued at approximately $4,988,907.82. This represents a 67.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 value of $402,435.00. Following the completion of the sale, the director now owns 4,075 shares in the company, valued at $1,490,838.75. This represents a 21.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,465 shares of company stock valued at $12,562,070 in the last three months. Company insiders own 1.30% of the company's stock.

Analyst Upgrades and Downgrades

LPLA has been the subject of several analyst reports. JMP Securities reaffirmed a "market outperform" rating and set a $435.00 target price on shares of LPL Financial in a research report on Friday, January 31st. Citigroup cut their price objective on LPL Financial from $415.00 to $400.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Morgan Stanley lifted their target price on shares of LPL Financial from $379.00 to $413.00 and gave the stock an "overweight" rating in a research note on Thursday, February 6th. Barclays decreased their price target on LPL Financial from $414.00 to $365.00 and set an "overweight" rating for the company in a report on Monday. Finally, TD Cowen raised 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. One research analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, LPL Financial currently has a consensus rating of "Moderate Buy" and an average target price of $376.33.

LPL Financial Stock Performance

LPL Financial stock traded up $6.07 during mid-day trading on Tuesday, reaching $293.93. 287,972 shares of the company's stock were exchanged, compared to its average volume of 804,962. The firm has a market capitalization of $21.92 billion, a PE ratio of 20.99, a P/E/G ratio of 0.94 and a beta of 0.64. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60. The business's fifty day simple moving average is $347.04 and its 200 day simple moving average is $316.90. LPL Financial Holdings Inc. has a one year low of $187.19 and a one year 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 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%. On average, sell-side analysts expect that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend was Tuesday, March 11th. LPL Financial's payout ratio is 8.55%.

LPL Financial 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.