Stenger Family Office LLC Takes $1.84 Million Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Stenger Family Office LLC bought a new position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,625 shares of the financial services provider's stock, valued at approximately $1,837,000.

A number of other hedge funds have also modified their holdings of the business. Principal Financial Group Inc. grew its stake in shares of LPL Financial by 15.7% in the 3rd quarter. Principal Financial Group Inc. now owns 25,418 shares of the financial services provider's stock valued at $5,913,000 after purchasing an additional 3,444 shares during the last quarter. Truist Financial Corp grew its position in LPL Financial by 7.9% in the 4th quarter. Truist Financial Corp now owns 192,153 shares of the financial services provider's stock valued at $62,740,000 after buying an additional 14,106 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in LPL Financial by 4.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 31,209 shares of the financial services provider's stock valued at $10,190,000 after buying an additional 1,383 shares during the period. Bank of Montreal Can raised its position in LPL Financial by 46.9% during the 4th quarter. Bank of Montreal Can now owns 59,910 shares of the financial services provider's stock worth $19,561,000 after buying an additional 19,126 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in LPL Financial by 4.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 335,749 shares of the financial services provider's stock worth $109,625,000 after buying an additional 13,936 shares during the last quarter. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

LPL Financial Price Performance

LPL Financial stock traded down $0.02 during trading hours on Friday, hitting $306.02. The stock had a trading volume of 413,918 shares, compared to its average volume of 824,284. The stock has a market capitalization of $24.28 billion, a price-to-earnings ratio of 21.80, a PEG ratio of 0.94 and a beta of 0.64. 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 1-year low of $187.19 and a 1-year high of $384.04. The stock's fifty day moving average is $335.31 and its two-hundred day moving average is $320.55.

LPL Financial (NASDAQ:LPLA - Get Free Report) last issued 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 net margin of 8.55% and a return on equity of 49.41%. As a group, analysts predict that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

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

Insider Buying and Selling

In related news, CFO Matthew J. Audette sold 28,777 shares of LPL Financial stock in a transaction dated 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 completion of the sale, the chief financial officer now 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Marc Eliot Cohen sold 1,100 shares of the company's stock in a transaction dated Wednesday, February 26th. The shares were 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 approximately $1,490,838.75. This trade represents a 21.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,465 shares of company stock worth $12,562,070 in the last ninety days. Insiders own 1.30% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on LPLA. JPMorgan Chase & Co. lifted their target price on shares of LPL Financial from $397.00 to $405.00 and gave the company an "overweight" rating in a report on Friday, January 31st. StockNews.com lowered LPL Financial from a "hold" rating to a "sell" rating in a report on Wednesday, March 26th. JMP Securities cut their target price on LPL Financial from $435.00 to $420.00 and set a "market outperform" rating for the company in a research note on Tuesday, April 8th. UBS Group raised their price target on LPL Financial from $390.00 to $420.00 and gave the company a "buy" rating in a report on Friday, January 31st. Finally, Barclays dropped their price objective on LPL Financial from $414.00 to $365.00 and set an "overweight" rating on the stock in a report on Monday, April 7th. One analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $369.83.

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.