Prudential PLC Grows Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Prudential PLC increased its position in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 109.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,757 shares of the financial services provider's stock after buying an additional 3,010 shares during the quarter. Prudential PLC's holdings in LPL Financial were worth $1,880,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of LPLA. Wealth Alliance boosted its position in LPL Financial by 2.1% during the 4th quarter. Wealth Alliance now owns 1,483 shares of the financial services provider's stock valued at $484,000 after buying an additional 30 shares during the period. Sanchez Wealth Management Group grew its stake in shares of LPL Financial by 2.1% in the fourth quarter. Sanchez Wealth Management Group now owns 1,686 shares of the financial services provider's stock worth $551,000 after purchasing an additional 35 shares during the last quarter. Mather Group LLC. increased 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 purchasing an additional 36 shares during the period. Tyler Stone Wealth Management raised its position in LPL Financial by 3.7% during the 4th quarter. Tyler Stone Wealth Management now owns 1,076 shares of the financial services provider's stock valued at $351,000 after purchasing an additional 38 shares during the last quarter. Finally, Signaturefd LLC lifted its holdings in LPL Financial by 3.1% in the 4th quarter. Signaturefd LLC now owns 1,352 shares of the financial services provider's stock worth $441,000 after buying an additional 41 shares during the period. Hedge funds and other institutional investors own 95.66% of the company's stock.

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Insider Activity

In related news, CFO Matthew J. Audette sold 4,588 shares of the business's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $360.07, for a total transaction of $1,652,001.16. Following the completion of the sale, the chief financial officer now directly owns 16,538 shares in the company, valued at approximately $5,954,837.66. The trade was a 21.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Marc Eliot Cohen sold 1,100 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $365.85, for a total transaction of $402,435.00. Following the completion of the transaction, the director now owns 4,075 shares in the company, valued at $1,490,838.75. The trade was a 21.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 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 company insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on LPLA shares. Wells Fargo & Company reduced their price objective on shares of LPL Financial from $405.00 to $342.00 and set an "overweight" rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. raised their price objective on shares of LPL Financial from $397.00 to $405.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Morgan Stanley raised their target price on LPL Financial from $379.00 to $413.00 and gave the company an "overweight" rating in a research note on Thursday, February 6th. StockNews.com cut LPL Financial from a "hold" rating to a "sell" rating in a research note on Wednesday, March 26th. Finally, Barclays lowered their price objective on LPL Financial from $414.00 to $365.00 and set an "overweight" rating for the company in a research report on Monday. One investment analyst has rated the stock with a sell rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $369.83.

LPL Financial Stock Up 1.3 %

LPLA traded up $4.02 during trading on Friday, hitting $305.55. 307,547 shares of the company's stock traded hands, compared to its average volume of 819,401. The stock has a market capitalization of $24.24 billion, a price-to-earnings ratio of 21.76, a PEG ratio of 0.94 and a beta of 0.64. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. LPL Financial Holdings Inc. has a 12-month low of $187.19 and a 12-month high of $384.04. The company's 50 day simple moving average is $341.04 and its two-hundred day simple moving average is $318.44.

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 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%. Analysts predict that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $1.20 annualized dividend and a dividend yield of 0.39%. 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.