Stifel Financial Corp Acquires 42,460 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Stifel Financial Corp lifted its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 34.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 165,291 shares of the financial services provider's stock after buying an additional 42,460 shares during the period. Stifel Financial Corp owned about 0.22% of LPL Financial worth $53,969,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of LPLA. Graney & King LLC acquired a new stake in shares of LPL Financial during the 4th quarter worth about $30,000. Jones Financial Companies Lllp increased its holdings in shares of LPL Financial by 45.3% during the fourth quarter. Jones Financial Companies Lllp now owns 138 shares of the financial services provider's stock worth $45,000 after buying an additional 43 shares in the last quarter. Atala Financial Inc acquired a new stake in shares of LPL Financial during the fourth quarter worth approximately $59,000. Compass Financial Services Inc bought a new position in shares of LPL Financial in the fourth quarter valued at approximately $65,000. Finally, R Squared Ltd acquired a new position in shares of LPL Financial in the 4th quarter worth approximately $78,000. Institutional investors own 95.66% of the company's stock.

Analysts Set New Price Targets

LPLA has been the topic of a number of research analyst reports. StockNews.com lowered shares of LPL Financial from a "hold" rating to a "sell" rating in a report on Wednesday, March 26th. Barclays dropped their price objective on shares of LPL Financial from $414.00 to $365.00 and set an "overweight" rating for the company in a research report on Monday, April 7th. UBS Group increased their price objective on LPL Financial from $390.00 to $420.00 and gave the company a "buy" rating in a research report on Friday, January 31st. Morgan Stanley upped their price target on LPL Financial from $379.00 to $413.00 and gave the company an "overweight" rating in a research note on Thursday, February 6th. Finally, JPMorgan Chase & Co. boosted their price objective on LPL Financial from $397.00 to $405.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $369.83.

LPL Financial Price Performance

Shares of LPLA traded down $1.30 during trading hours on Friday, hitting $314.54. 428,773 shares of the company were exchanged, compared to its average volume of 827,851. The company has a market cap of $24.96 billion, a price-to-earnings ratio of 22.40, a P/E/G ratio of 0.94 and a beta of 0.64. The firm's fifty day moving average is $327.56 and its 200 day moving average is $323.48. LPL Financial Holdings Inc. has a fifty-two week low of $187.19 and a fifty-two week high of $384.04. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60.

LPL Financial (NASDAQ:LPLA - Get Free Report) last released its earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share for the quarter, topping the consensus estimate 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, equities analysts anticipate 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. This represents a $1.20 annualized dividend and a dividend yield of 0.38%. The ex-dividend date was Tuesday, March 11th. LPL Financial's dividend payout ratio (DPR) is currently 8.55%.

Insider Activity

In other LPL Financial news, Director Marc Eliot Cohen sold 1,100 shares of the company's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $365.85, for a total value of $402,435.00. Following the sale, the director now owns 4,075 shares in the company, valued at approximately $1,490,838.75. The trade was a 21.26 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Matthew J. Audette sold 4,588 shares of LPL Financial stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $360.07, for a total value 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 approximately $5,954,837.66. This represents a 21.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,465 shares of company stock valued at $12,562,070 over the last quarter. 1.30% of the stock is owned by company insiders.

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.