Proficio Capital Partners LLC bought a new position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 84,278 shares of the financial services provider's stock, valued at approximately $27,518,000. Proficio Capital Partners LLC owned about 0.11% of LPL Financial as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Wealth Alliance boosted its position in shares of LPL Financial by 2.1% during the fourth quarter. Wealth Alliance now owns 1,483 shares of the financial services provider's stock worth $484,000 after acquiring an additional 30 shares during the last quarter. Sanchez Wealth Management Group lifted its position in LPL Financial by 2.1% during the fourth quarter. Sanchez Wealth Management Group now owns 1,686 shares of the financial services provider's stock valued at $551,000 after purchasing an additional 35 shares during the last quarter. Mather Group LLC. lifted its position in LPL Financial by 4.1% during the fourth quarter. Mather Group LLC. now owns 916 shares of the financial services provider's stock valued at $299,000 after purchasing an additional 36 shares during the last quarter. Avior Wealth Management LLC lifted its position in LPL Financial by 1.8% during the third quarter. Avior Wealth Management LLC now owns 2,416 shares of the financial services provider's stock valued at $562,000 after purchasing an additional 42 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its position in LPL Financial by 45.3% during the fourth quarter. Jones Financial Companies Lllp now owns 138 shares of the financial services provider's stock valued at $45,000 after purchasing an additional 43 shares during the last quarter. Institutional investors own 95.66% of the company's stock.
LPL Financial Stock Performance
Shares of NASDAQ LPLA traded down $1.99 during mid-day trading on Tuesday, hitting $326.30. The stock had a trading volume of 767,356 shares, compared to its average volume of 739,793. 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 company has a 50 day moving average of $352.19 and a two-hundred day moving average of $305.00. LPL Financial Holdings Inc. has a twelve month low of $187.19 and a twelve month high of $384.04. The firm has a market cap of $24.37 billion, a PE ratio of 23.24, a PEG ratio of 0.94 and a beta of 0.82.
LPL Financial (NASDAQ:LPLA - Get Free Report) last issued its earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share (EPS) for the quarter, topping 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%. Research analysts predict that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.
LPL Financial Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.37%. The ex-dividend date of this dividend is Tuesday, March 11th. LPL Financial's dividend payout ratio is currently 8.55%.
Insider Transactions at LPL Financial
In related news, Director Marc Eliot Cohen sold 1,100 shares of the firm's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $365.85, for a total value of $402,435.00. Following the transaction, the director now directly owns 4,075 shares of the company's stock, valued at approximately $1,490,838.75. This trade represents a 21.26 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Matthew J. Audette sold 4,588 shares of the firm's 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 completion of the transaction, the chief financial officer now directly owns 16,538 shares in the company, valued at $5,954,837.66. This trade represents a 21.72 % decrease in their ownership of the stock. 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 in the last ninety days. 1.30% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
Several equities analysts have commented on LPLA shares. Citigroup increased their price objective on shares of LPL Financial from $310.00 to $385.00 and gave the company a "buy" rating in a research report on Friday, January 10th. JPMorgan Chase & Co. raised their price target 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. Keefe, Bruyette & Woods raised their price target on shares of LPL Financial from $390.00 to $405.00 and gave the stock an "outperform" rating in a research note on Friday, January 31st. UBS Group increased their target price on shares of LPL Financial from $390.00 to $420.00 and gave the stock a "buy" rating in a report on Friday, January 31st. Finally, JMP Securities restated a "market outperform" rating and issued a $435.00 price target on shares of LPL Financial in a report on Friday, January 31st. Two investment analysts have rated the stock with a sell rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, LPL Financial presently has an average rating of "Moderate Buy" and an average target price of $379.17.
Check Out 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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