KLP Kapitalforvaltning AS Buys New Stake in LPL Financial Holdings Inc. (NASDAQ:LPLA)

KLP Kapitalforvaltning AS acquired a new position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 26,100 shares of the financial services provider's stock, valued at approximately $8,522,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Mutual of America Capital Management LLC boosted its holdings in shares of LPL Financial by 23.0% during the third quarter. Mutual of America Capital Management LLC now owns 4,388 shares of the financial services provider's stock worth $1,021,000 after purchasing an additional 821 shares during the period. PNC Financial Services Group Inc. lifted its position in LPL Financial by 11.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 3,988 shares of the financial services provider's stock worth $928,000 after buying an additional 423 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in shares of LPL Financial by 32.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 385 shares of the financial services provider's stock valued at $90,000 after buying an additional 94 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of LPL Financial by 3.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 321,813 shares of the financial services provider's stock valued at $74,863,000 after acquiring an additional 9,899 shares in the last quarter. Finally, Cerity Partners LLC increased its stake in shares of LPL Financial by 164.2% in the third quarter. Cerity Partners LLC now owns 11,046 shares of the financial services provider's stock worth $2,570,000 after acquiring an additional 6,865 shares during the last quarter. Hedge funds and other institutional investors own 95.66% of the company's stock.

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Analysts Set New Price Targets

A number of research analysts have commented on the company. JMP Securities restated a "market outperform" rating and issued a $435.00 target price on shares of LPL Financial in a research note on Friday, January 31st. StockNews.com cut LPL Financial from a "hold" rating to a "sell" rating in a research note on Wednesday. UBS Group lifted their target price on shares of LPL Financial from $390.00 to $420.00 and gave the company a "buy" rating in a research note on Friday, January 31st. TD Cowen upgraded shares of LPL Financial from a "hold" rating to a "buy" rating and increased their price target for the stock from $277.00 to $413.00 in a research note on Thursday, December 19th. Finally, Barclays raised their price target on shares of LPL Financial from $389.00 to $414.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Two analysts have rated the stock with a sell rating and twelve have given a buy rating to the stock. According to MarketBeat, LPL Financial currently has a consensus rating of "Moderate Buy" and an average target price of $379.17.

LPL Financial Stock Performance

LPLA stock traded down $3.14 during mid-day trading on Wednesday, reaching $339.41. 200,711 shares of the stock traded hands, compared to its average volume of 740,542. 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 has a 50-day moving average of $352.40 and a two-hundred day moving average of $309.86. The firm has a market capitalization of $25.35 billion, a PE ratio of 24.17, a P/E/G ratio of 0.94 and a beta of 0.82. LPL Financial Holdings Inc. has a 52 week low of $187.19 and a 52 week 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 earnings per share (EPS) for the quarter, beating 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%. As a group, equities analysts predict that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal 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 issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date was Tuesday, March 11th. LPL Financial's dividend payout ratio (DPR) is presently 8.55%.

Insider Buying and Selling at LPL Financial

In other news, CFO Matthew J. Audette sold 4,588 shares of LPL Financial stock in a transaction that occurred on 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 sale, the chief financial officer now 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Marc Eliot Cohen sold 1,100 shares of the company's stock in a transaction 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 transaction, the director now owns 4,075 shares of the company's stock, valued at $1,490,838.75. The trade was a 21.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,465 shares of company stock valued at $12,562,070 in the last ninety days. Company insiders own 1.30% of the company's stock.

LPL Financial Company 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.