Gabelli Funds LLC Grows Stock Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Gabelli Funds LLC increased its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 51.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,293 shares of the financial services provider's stock after acquiring an additional 1,793 shares during the quarter. Gabelli Funds LLC's holdings in LPL Financial were worth $1,728,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Graney & King LLC bought a new position in shares of LPL Financial during the fourth quarter worth $30,000. Jones Financial Companies Lllp lifted its position 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 during the last quarter. Atala Financial Inc acquired a new stake in LPL Financial during the 4th quarter worth approximately $59,000. Compass Financial Services Inc bought a new position in LPL Financial during the 4th quarter worth $65,000. Finally, R Squared Ltd bought a new position in LPL Financial during the 4th quarter worth $78,000. Institutional investors and hedge funds own 95.66% of the company's stock.

Insider Transactions at LPL Financial

In related news, CFO Matthew J. Audette sold 28,777 shares of the business's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $365.14, for a total transaction of $10,507,633.78. Following the transaction, the chief financial officer now directly owns 13,663 shares in the company, valued at approximately $4,988,907.82. The trade was a 67.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Marc Eliot Cohen sold 1,100 shares of LPL Financial stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $365.85, for a total transaction of $402,435.00. Following 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 90 days, insiders have sold 34,465 shares of company stock worth $12,562,070. Insiders own 1.30% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. StockNews.com lowered LPL Financial from a "hold" rating to a "sell" rating in a research report on Wednesday, March 26th. JMP Securities reduced their price objective on shares of LPL Financial from $435.00 to $420.00 and set a "market outperform" rating for the company in a research report on Tuesday, April 8th. Barclays reduced their price objective on shares of LPL Financial from $414.00 to $365.00 and set an "overweight" rating for the company in a research report on Monday, April 7th. Wells Fargo & Company reduced their price target on shares of LPL Financial from $405.00 to $342.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. upped their target price on shares of LPL Financial from $397.00 to $405.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $369.83.

LPL Financial Price Performance

NASDAQ:LPLA traded up $4.99 on Thursday, reaching $317.54. 255,485 shares of the company's stock traded hands, compared to its average volume of 826,207. 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 stock has a 50-day simple moving average of $330.03 and a 200-day simple moving average of $322.43. The firm has a market cap of $25.20 billion, a PE ratio of 22.62, a P/E/G ratio of 0.94 and a beta of 0.64. 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 announced its earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts forecast that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.38%. 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.