Prossimo Advisors LLC Raises Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Prossimo Advisors LLC increased its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 69.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,785 shares of the financial services provider's stock after purchasing an additional 1,550 shares during the period. LPL Financial accounts for 0.9% of Prossimo Advisors LLC's holdings, making the stock its 25th biggest holding. Prossimo Advisors LLC's holdings in LPL Financial were worth $1,236,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in LPLA. Sanchez Wealth Management Group increased its position in shares of LPL Financial by 2.1% during the 4th 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. boosted its holdings in LPL Financial by 4.1% during the 4th quarter. Mather Group LLC. now owns 916 shares of the financial services provider's stock valued at $299,000 after acquiring an additional 36 shares during the period. Bridges Investment Management Inc. boosted its holdings in LPL Financial by 3.2% during the 3rd quarter. Bridges Investment Management Inc. now owns 1,185 shares of the financial services provider's stock valued at $276,000 after acquiring an additional 37 shares during the period. Avior Wealth Management LLC boosted its holdings in LPL Financial by 1.8% during the 3rd quarter. Avior Wealth Management LLC now owns 2,416 shares of the financial services provider's stock valued at $562,000 after acquiring an additional 42 shares during the period. Finally, MFA Wealth Advisors LLC boosted its holdings in LPL Financial by 3.9% during the 3rd quarter. MFA Wealth Advisors LLC now owns 1,148 shares of the financial services provider's stock valued at $267,000 after acquiring an additional 43 shares during the period. 95.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at LPL Financial

In other LPL Financial news, CFO Matthew J. Audette sold 28,777 shares of the stock in a transaction that occurred 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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Aneri Jambusaria sold 305 shares of the stock in a transaction that occurred 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 in the company, valued at $1,301,204.80. This represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.

LPL Financial Stock Down 2.0 %

Shares of NASDAQ LPLA traded down $7.53 during mid-day trading on Friday, reaching $371.93. 1,175,849 shares of the company were exchanged, compared to its average volume of 664,201. 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 market cap of $27.85 billion, a price-to-earnings ratio of 26.49, a P/E/G ratio of 0.95 and a beta of 0.87. LPL Financial Holdings Inc. has a 1 year low of $187.19 and a 1 year high of $384.04. The firm has a 50-day moving average of $348.16 and a 200 day moving average of $288.42.

LPL Financial (NASDAQ:LPLA - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The financial services provider reported $4.25 earnings per share for the quarter, topping 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%. On average, research analysts expect that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.32%. The ex-dividend date is Tuesday, March 11th. LPL Financial's dividend payout ratio is currently 8.55%.

Analysts Set New Price Targets

A number of research firms recently issued reports on LPLA. Keefe, Bruyette & Woods boosted their price objective on LPL Financial from $390.00 to $405.00 and gave the company an "outperform" rating in a report on Friday, January 31st. Wells Fargo & Company boosted their price objective on LPL Financial from $390.00 to $405.00 and gave the company an "overweight" rating in a report on Friday, January 31st. The Goldman Sachs Group boosted their price objective on LPL Financial from $271.00 to $305.00 and gave the company a "buy" rating in a report on Friday, November 1st. UBS Group boosted their price objective on LPL Financial from $390.00 to $420.00 and gave the company a "buy" rating in a report on Friday, January 31st. Finally, Citigroup upped their target price on LPL Financial from $310.00 to $385.00 and gave the stock a "buy" rating in a report on Friday, January 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $379.17.

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.