Vestcor Inc Raises Stock Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Vestcor Inc boosted its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 80.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,838 shares of the financial services provider's stock after purchasing an additional 1,262 shares during the period. Vestcor Inc's holdings in LPL Financial were worth $927,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Wealth Alliance increased its holdings 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 buying an additional 30 shares in the last quarter. Sanchez Wealth Management Group increased its holdings in LPL Financial by 2.1% in the 4th 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 in the last quarter. Mather Group LLC. raised its position in LPL Financial by 4.1% in 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 boosted its stake in shares of 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 in the last quarter. Finally, Jones Financial Companies Lllp grew 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 purchasing an additional 43 shares during the last quarter. Institutional investors and hedge funds own 95.66% of the company's stock.

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LPL Financial Stock Performance

LPLA stock traded up $5.91 during midday trading on Wednesday, hitting $332.21. The company's stock had a trading volume of 769,607 shares, compared to its average volume of 740,833. The stock has a market cap of $24.81 billion, a price-to-earnings ratio of 23.66, a PEG ratio of 0.94 and a beta of 0.82. 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's 50-day moving average price is $352.00 and its 200 day moving average price is $305.72. LPL Financial Holdings Inc. has a 1 year low of $187.19 and a 1 year high of $384.04.

LPL Financial (NASDAQ:LPLA - Get Free Report) last issued its quarterly 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 net margin of 8.55% and a return on equity of 49.41%. On average, equities analysts forecast that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.36%. The ex-dividend date of this dividend is Tuesday, March 11th. LPL Financial's dividend payout ratio (DPR) is currently 8.55%.

Insider Activity at LPL Financial

In other news, Director Marc Eliot Cohen sold 1,100 shares of LPL Financial 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 completion of the transaction, the director now owns 4,075 shares in the company, valued at $1,490,838.75. This trade represents a 21.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Matthew J. Audette sold 4,588 shares of the company'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 sale, the chief financial officer now owns 16,538 shares in the company, valued at $5,954,837.66. The trade was a 21.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,465 shares of company stock worth $12,562,070. Company insiders own 1.30% of the company's stock.

Wall Street Analysts Forecast Growth

LPLA has been the topic of several recent research reports. Keefe, Bruyette & Woods lifted their target price on shares of LPL Financial from $390.00 to $405.00 and gave the stock an "outperform" rating in a research report on Friday, January 31st. TD Cowen upgraded shares of LPL Financial from a "hold" rating to a "buy" rating and lifted their price target for the stock from $277.00 to $413.00 in a report on Thursday, December 19th. StockNews.com downgraded LPL Financial from a "hold" rating to a "sell" rating in a report on Monday. Morgan Stanley lifted their target price on LPL Financial from $379.00 to $413.00 and gave the stock an "overweight" rating in a report on Thursday, February 6th. Finally, Citigroup increased their price target on LPL Financial from $310.00 to $385.00 and gave the company a "buy" rating in a research note on Friday, January 10th. Two analysts have rated the stock with a sell rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, LPL Financial currently has a consensus rating of "Moderate Buy" and a consensus price target 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.