HighTower Advisors LLC Grows Stock Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

HighTower Advisors LLC boosted its position in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 18.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,200 shares of the financial services provider's stock after buying an additional 2,417 shares during the period. HighTower Advisors LLC's holdings in LPL Financial were worth $4,963,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. FMR LLC raised its stake in shares of LPL Financial by 24.4% in the third quarter. FMR LLC now owns 3,322,571 shares of the financial services provider's stock worth $772,930,000 after purchasing an additional 650,675 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of LPL Financial by 2.6% in the third quarter. Geode Capital Management LLC now owns 1,436,831 shares of the financial services provider's stock worth $333,581,000 after purchasing an additional 36,474 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of LPL Financial by 27.6% in 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 last quarter. Raymond James Financial Inc. purchased a new stake in shares of LPL Financial in the fourth quarter worth approximately $295,982,000. Finally, Southpoint Capital Advisors LP raised its stake in shares of LPL Financial by 50.0% in the third quarter. Southpoint Capital Advisors LP now owns 750,000 shares of the financial services provider's stock worth $174,472,000 after purchasing an additional 250,000 shares during the last quarter. 95.66% of the stock is owned by institutional investors.

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LPL Financial Stock Performance

NASDAQ LPLA traded down $6.55 on Friday, hitting $327.90. 828,191 shares of the stock traded hands, compared to its average volume of 743,986. The firm has a market capitalization of $24.49 billion, a price-to-earnings ratio of 23.35, a PEG ratio of 0.94 and a beta of 0.82. The business's fifty day moving average is $351.95 and its two-hundred day moving average is $307.43. LPL Financial Holdings Inc. has a 12 month low of $187.19 and a 12 month high of $384.04. 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 posted its earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.01 by $0.24. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. As a group, equities analysts anticipate that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th will be given a dividend of $0.30 per share. The ex-dividend date is Tuesday, March 11th. This represents a $1.20 annualized dividend and a dividend yield of 0.37%. LPL Financial's dividend payout ratio is currently 8.55%.

Insiders Place Their Bets

In related news, CFO Matthew J. Audette sold 4,588 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $360.07, for a total value of $1,652,001.16. Following the sale, the chief financial officer now owns 16,538 shares in the company, 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 SEC, which is accessible through the SEC website. Also, Director Marc Eliot Cohen sold 1,100 shares of the stock in a transaction 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 sale, the director now owns 4,075 shares in the company, valued at $1,490,838.75. This trade represents a 21.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,465 shares of company stock worth $12,562,070 over the last 90 days. Corporate insiders own 1.30% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on LPLA shares. Keefe, Bruyette & Woods upped their target price 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 raised LPL Financial from a "hold" rating to a "buy" rating and upped their target price for the company from $277.00 to $413.00 in a report on Thursday, December 19th. JMP Securities reaffirmed a "market outperform" rating and issued a $435.00 target price on shares of LPL Financial in a report on Friday, January 31st. Citigroup upped their target price on LPL Financial from $310.00 to $385.00 and gave the company a "buy" rating in a report on Friday, January 10th. Finally, JPMorgan Chase & Co. upped their target price on LPL Financial from $397.00 to $405.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Two research analysts have rated the stock with a sell rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, LPL Financial currently has a consensus rating of "Moderate Buy" and a consensus price target of $379.17.

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.