Geode Capital Management LLC Purchases 23,111 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Geode Capital Management LLC grew its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 1.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,459,942 shares of the financial services provider's stock after acquiring an additional 23,111 shares during the quarter. Geode Capital Management LLC owned 1.95% of LPL Financial worth $475,946,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of LPLA. Wealth Alliance raised its holdings in shares of LPL Financial by 2.1% in the fourth quarter. Wealth Alliance now owns 1,483 shares of the financial services provider's stock valued at $484,000 after purchasing an additional 30 shares during the last quarter. Sanchez Wealth Management Group increased its stake in LPL Financial by 2.1% in the 4th quarter. Sanchez Wealth Management Group now owns 1,686 shares of the financial services provider's stock valued at $551,000 after buying an additional 35 shares during the last quarter. Mather Group LLC. increased its stake in LPL Financial by 4.1% in the 4th quarter. Mather Group LLC. now owns 916 shares of the financial services provider's stock valued at $299,000 after buying an additional 36 shares during the last quarter. Tyler Stone Wealth Management lifted its position in LPL Financial by 3.7% during the 4th quarter. Tyler Stone Wealth Management now owns 1,076 shares of the financial services provider's stock worth $351,000 after buying an additional 38 shares in the last quarter. Finally, Signaturefd LLC boosted its stake in shares of LPL Financial by 3.1% during the 4th quarter. Signaturefd LLC now owns 1,352 shares of the financial services provider's stock worth $441,000 after buying an additional 41 shares during the last quarter. Institutional investors own 95.66% of the company's stock.

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Analyst Ratings Changes

A number of analysts recently issued reports on LPLA shares. Barclays lowered their target price on LPL Financial from $414.00 to $365.00 and set an "overweight" rating on the stock in a research report on Monday. JMP Securities lowered their price target on LPL Financial from $435.00 to $420.00 and set a "market outperform" rating on the stock in a research report on Tuesday. Keefe, Bruyette & Woods increased their price objective on LPL Financial from $390.00 to $405.00 and gave the company an "outperform" rating in a report on Friday, January 31st. TD Cowen upgraded shares of LPL Financial from a "hold" rating to a "buy" rating and boosted their target price for the stock from $277.00 to $413.00 in a report on Thursday, December 19th. Finally, StockNews.com lowered shares of LPL Financial from a "hold" rating to a "sell" rating in a research report on Wednesday, March 26th. One analyst has rated the stock with a sell rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, LPL Financial has a consensus rating of "Moderate Buy" and an average price target of $369.83.

Insider Buying and Selling

In other news, CFO Matthew J. Audette sold 4,588 shares of the firm's stock in a transaction dated Wednesday, February 26th. The stock was 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. This trade represents a 21.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Marc Eliot Cohen sold 1,100 shares of LPL Financial stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $365.85, for a total value of $402,435.00. Following the completion of the transaction, the director now directly owns 4,075 shares in the company, valued at $1,490,838.75. This trade represents a 21.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,465 shares of company stock worth $12,562,070. Corporate insiders own 1.30% of the company's stock.

LPL Financial Stock Performance

LPLA traded up $31.99 during trading hours on Wednesday, hitting $318.88. The stock had a trading volume of 2,707,062 shares, compared to its average volume of 818,886. The stock has a market cap of $23.78 billion, a PE ratio of 22.71, a price-to-earnings-growth 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 company's fifty day simple moving average is $342.30 and its 200 day simple moving average is $317.89. LPL Financial Holdings Inc. has a 1 year low of $187.19 and a 1 year high of $384.04.

LPL Financial (NASDAQ:LPLA - Get Free Report) last posted its earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share 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%. Equities analysts anticipate that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th were paid a $0.30 dividend. The ex-dividend date was Tuesday, March 11th. This represents a $1.20 dividend on an annualized basis and a yield of 0.38%. LPL Financial's dividend payout ratio 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.