MIG Capital LLC Makes New $335,000 Investment in LPL Financial Holdings Inc. (NASDAQ:LPLA)

MIG Capital LLC bought a new stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,026 shares of the financial services provider's stock, valued at approximately $335,000.

Other large investors have also modified their holdings of the company. Graney & King LLC bought a new stake in LPL Financial during the 4th quarter valued at $30,000. Jones Financial Companies Lllp grew its holdings in LPL Financial by 45.3% in the fourth quarter. Jones Financial Companies Lllp now owns 138 shares of the financial services provider's stock worth $45,000 after purchasing an additional 43 shares during the last quarter. Atala Financial Inc acquired a new position in shares of LPL Financial during the fourth quarter worth $59,000. Compass Financial Services Inc purchased a new stake in shares of LPL Financial during the 4th quarter valued at $65,000. Finally, R Squared Ltd purchased a new position in LPL Financial during the 4th quarter worth $78,000. Institutional investors own 95.66% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on LPLA shares. Morgan Stanley upped their price objective on shares of LPL Financial from $379.00 to $413.00 and gave the company an "overweight" rating in a report on Thursday, February 6th. Barclays lowered their price target on LPL Financial from $414.00 to $365.00 and set an "overweight" rating for the company in a research report on Monday. Keefe, Bruyette & Woods raised their price objective on LPL Financial from $390.00 to $405.00 and gave the stock an "outperform" rating in a research note on Friday, January 31st. JMP Securities dropped 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. Finally, 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. One equities research analyst has rated the stock with a sell rating and twelve have given a buy rating to the company. Based on data from MarketBeat, LPL Financial presently has an average rating of "Moderate Buy" and a consensus target price of $369.83.

Remove Ads

Insider Buying and Selling at LPL Financial

In related news, 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 transaction, the director now directly owns 4,075 shares of the company's stock, valued at approximately $1,490,838.75. This represents a 21.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Matthew J. Audette sold 28,777 shares of LPL Financial stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $365.14, for a total transaction of $10,507,633.78. Following the sale, the chief financial officer now directly owns 13,663 shares in the company, valued at approximately $4,988,907.82. This trade represents a 67.81 % 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 valued at $12,562,070 over the last ninety days. Corporate insiders own 1.30% of the company's stock.

LPL Financial Price Performance

Shares of LPL Financial stock traded up $6.05 on Friday, hitting $307.58. The company's stock had a trading volume of 352,222 shares, compared to its average volume of 819,539. The company has a market capitalization of $24.41 billion, a price-to-earnings ratio of 21.91, a price-to-earnings-growth ratio of 0.94 and a beta of 0.64. LPL Financial Holdings Inc. has a 1 year low of $187.19 and a 1 year 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. The firm has a fifty day moving average price of $341.04 and a 200-day moving average price of $318.44.

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

LPL Financial Dividend Announcement

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

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.