LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Purchased by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC grew its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 2.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,660,736 shares of the financial services provider's stock after buying an additional 57,485 shares during the quarter. LPL Financial accounts for 2.0% of Kayne Anderson Rudnick Investment Management LLC's investment portfolio, making the stock its 4th largest holding. Kayne Anderson Rudnick Investment Management LLC owned 3.55% of LPL Financial worth $868,757,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in LPLA. Graney & King LLC purchased a new stake in LPL Financial in the 4th quarter valued at approximately $30,000. Jones Financial Companies Lllp boosted its stake in shares of LPL Financial by 45.3% in the fourth quarter. Jones Financial Companies Lllp now owns 138 shares of the financial services provider's stock valued at $45,000 after buying an additional 43 shares in the last quarter. Atala Financial Inc acquired a new position in LPL Financial during the fourth quarter worth $59,000. Compass Financial Services Inc purchased a new position in LPL Financial in the fourth quarter worth $65,000. Finally, R Squared Ltd purchased a new stake in shares of LPL Financial during the 4th quarter worth $78,000. Institutional investors and hedge funds own 95.66% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on LPLA. UBS Group upped their target price on shares of LPL Financial from $390.00 to $420.00 and gave the stock a "buy" rating in a research report on Friday, January 31st. Morgan Stanley raised their price objective on LPL Financial from $379.00 to $413.00 and gave the company an "overweight" rating in a research note on Thursday, February 6th. JMP Securities decreased their target price on LPL Financial from $435.00 to $420.00 and set a "market outperform" rating on the stock in a research report on Tuesday, April 8th. Citigroup dropped their price target on LPL Financial from $415.00 to $400.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Finally, Barclays lowered their price objective on shares of LPL Financial from $414.00 to $365.00 and set an "overweight" rating on the stock in a research note on Monday, April 7th. One investment analyst has rated the stock with a sell rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $369.83.

LPL Financial Stock Down 0.0 %

Shares of NASDAQ:LPLA opened at $306.02 on Friday. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. The firm has a market cap of $24.28 billion, a price-to-earnings ratio of 21.80, a PEG ratio of 0.94 and a beta of 0.64. The stock's 50-day moving average price is $334.18 and its two-hundred day moving average price is $321.70. LPL Financial Holdings Inc. has a 12-month low of $187.19 and a 12-month 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 net margin of 8.55% and a return on equity of 49.41%. On average, research analysts forecast that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th were paid a dividend of $0.30 per share. The ex-dividend date was Tuesday, March 11th. This represents a $1.20 annualized dividend and a yield of 0.39%. LPL Financial's dividend payout ratio is presently 8.55%.

Insider Transactions at LPL Financial

In other LPL Financial news, Director Marc Eliot Cohen sold 1,100 shares of the business's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $365.85, for a total transaction of $402,435.00. Following the completion of the sale, the director now directly owns 4,075 shares in the company, valued at $1,490,838.75. The trade was a 21.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Matthew J. Audette sold 4,588 shares of the firm's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $360.07, for a total transaction of $1,652,001.16. Following the completion of the transaction, the chief financial officer now directly owns 16,538 shares in the company, valued at approximately $5,954,837.66. This represents a 21.72 % 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 in the last three months. 1.30% of the stock is currently owned by company insiders.

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.

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