LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Bought by MJP Associates Inc. ADV

MJP Associates Inc. ADV grew its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 27.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,445 shares of the financial services provider’s stock after acquiring an additional 309 shares during the period. MJP Associates Inc. ADV’s holdings in LPL Financial were worth $382,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. EdgeRock Capital LLC acquired a new position in shares of LPL Financial in the 4th quarter valued at about $25,000. GAMMA Investing LLC bought a new stake in shares of LPL Financial during the 4th quarter worth about $30,000. Gladius Capital Management LP bought a new stake in shares of LPL Financial during the 4th quarter worth about $30,000. American National Bank bought a new stake in shares of LPL Financial during the 4th quarter worth about $32,000. Finally, Cary Street Partners Investment Advisory LLC raised its position in shares of LPL Financial by 770.0% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 261 shares of the financial services provider’s stock worth $62,000 after buying an additional 231 shares in the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on LPLA shares. JMP Securities reiterated a “market outperform” rating and issued a $305.00 target price on shares of LPL Financial in a report on Wednesday, May 1st. TD Cowen lifted their target price on shares of LPL Financial from $269.00 to $271.00 and gave the stock a “hold” rating in a research report on Wednesday, May 1st. JPMorgan Chase & Co. lifted their target price on shares of LPL Financial from $254.00 to $260.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 2nd. Morgan Stanley raised shares of LPL Financial from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $254.00 to $315.00 in a research report on Tuesday, April 9th. Finally, Raymond James began coverage on shares of LPL Financial in a research report on Thursday, April 4th. They issued an “underperform” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $276.20.

Insiders Place Their Bets

In other LPL Financial news, CEO Dan H. Arnold sold 5,677 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $277.31, for a total value of $1,574,288.87. Following the completion of the sale, the chief executive officer now directly owns 142,608 shares of the company’s stock, valued at $39,546,624.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.30% of the company’s stock.

LPL Financial Stock Performance

Shares of LPLA opened at $279.64 on Friday. The company’s 50 day moving average price is $273.39 and its 200 day moving average price is $256.35. LPL Financial Holdings Inc. has a 52 week low of $200.18 and a 52 week high of $289.88. The company has a market capitalization of $20.89 billion, a PE ratio of 21.12, a PEG ratio of 1.15 and a beta of 0.89. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.84 and a current ratio of 1.84.

LPL Financial (NASDAQ:LPLA) last posted its earnings results on Tuesday, April 30th. The financial services provider reported $4.21 EPS for the quarter, topping the consensus estimate of $3.77 by $0.44. The company had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.68 billion. LPL Financial had a net margin of 9.71% and a return on equity of 55.22%. Research analysts expect that LPL Financial Holdings Inc. will post 15.85 EPS for the current fiscal year.

LPL Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend was Monday, May 20th. LPL Financial’s dividend payout ratio is 9.06%.

About LPL Financial

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.