Mn Services Vermogensbeheer B.V. increased its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 2.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 29,800 shares of the financial services provider's stock after buying an additional 700 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in LPL Financial were worth $9,730,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC raised its position in shares of LPL Financial by 24.4% in the 3rd quarter. FMR LLC now owns 3,322,571 shares of the financial services provider's stock worth $772,930,000 after buying an additional 650,675 shares during the period. Geode Capital Management LLC raised its holdings in shares of LPL Financial by 2.6% in the 3rd 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 period. JPMorgan Chase & Co. lifted its stake in shares of LPL Financial by 27.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider's stock valued at $296,635,000 after purchasing an additional 276,166 shares in the last quarter. Southpoint Capital Advisors LP grew its holdings in shares of LPL Financial by 50.0% during the 3rd 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 period. Finally, Westfield Capital Management Co. LP increased its position in LPL Financial by 21.6% during the 3rd quarter. Westfield Capital Management Co. LP now owns 710,867 shares of the financial services provider's stock worth $165,369,000 after purchasing an additional 126,266 shares in the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.
LPL Financial Stock Performance
Shares of NASDAQ LPLA traded down $15.75 during mid-day trading on Tuesday, hitting $343.12. The company had a trading volume of 1,338,929 shares, compared to its average volume of 732,459. The firm's 50 day simple moving average is $353.39 and its two-hundred day simple moving average is $297.74. The stock has a market cap of $25.59 billion, a price-to-earnings ratio of 24.29, a PEG ratio of 0.94 and a beta of 0.87. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. 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 EPS for the quarter, beating the consensus estimate of $4.01 by $0.24. LPL Financial had a net margin of 8.55% and a return on equity of 49.41%. As a group, equities research analysts forecast that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.
LPL Financial Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th will be paid a dividend of $0.30 per share. The ex-dividend date is Tuesday, March 11th. This represents a $1.20 annualized dividend and a yield of 0.35%. 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 28,777 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $365.14, for a total value of $10,507,633.78. Following the completion of the transaction, the chief financial officer now owns 13,663 shares in the company, valued at approximately $4,988,907.82. This represents a 67.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Aneri Jambusaria sold 305 shares of the stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $331.94, for a total value of $101,241.70. Following the transaction, the director now owns 3,920 shares of the company's stock, valued at $1,301,204.80. This represents a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,770 shares of company stock valued at $12,663,312 in the last quarter. Company insiders own 1.30% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on LPLA shares. JPMorgan Chase & Co. lifted their price target on shares of LPL Financial from $397.00 to $405.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Citigroup upped their price target on shares of LPL Financial from $310.00 to $385.00 and gave the stock a "buy" rating in a research report on Friday, January 10th. StockNews.com upgraded LPL Financial from a "sell" rating to a "hold" rating in a research note on Saturday, November 9th. UBS Group upped their target price on LPL Financial from $390.00 to $420.00 and gave the stock a "buy" rating in a research report on Friday, January 31st. Finally, Wells Fargo & Company raised their target price on LPL Financial from $390.00 to $405.00 and gave the company an "overweight" rating in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $379.17.
Read Our Latest Stock Analysis on LPLA
LPL Financial Company Profile
(
Free Report)
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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