Park Avenue Securities LLC boosted its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA – Free Report) by 5.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,849 shares of the financial services provider’s stock after acquiring an additional 210 shares during the period. Park Avenue Securities LLC’s holdings in LPL Financial were worth $1,257,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of the business. FMR LLC lifted its stake in LPL Financial by 24.4% in the 3rd quarter. FMR LLC now owns 3,322,571 shares of the financial services provider’s stock valued at $772,930,000 after buying an additional 650,675 shares in the last quarter. JPMorgan Chase & Co. raised its stake in LPL Financial by 27.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider’s stock valued at $296,635,000 after purchasing an additional 276,166 shares during the last quarter. Southpoint Capital Advisors LP lifted its holdings in LPL Financial by 50.0% in the 3rd quarter. Southpoint Capital Advisors LP now owns 750,000 shares of the financial services provider’s stock valued at $174,472,000 after purchasing an additional 250,000 shares in the last quarter. Maverick Capital Ltd. raised its position in shares of LPL Financial by 82.0% in the third quarter. Maverick Capital Ltd. now owns 497,075 shares of the financial services provider’s stock valued at $115,635,000 after buying an additional 223,931 shares during the last quarter. Finally, Azora Capital LP raised its position in shares of LPL Financial by 52.2% in the third quarter. Azora Capital LP now owns 643,544 shares of the financial services provider’s stock valued at $149,708,000 after buying an additional 220,622 shares during the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.
Insider Buying and Selling at LPL Financial
In other news, Director Aneri Jambusaria sold 305 shares of the stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $331.94, for a total transaction of $101,241.70. Following the sale, the director now directly owns 3,920 shares in the company, valued at approximately $1,301,204.80. This represents a 7.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is currently owned by insiders.
LPL Financial Trading Up 0.8 %
LPL Financial (NASDAQ:LPLA – Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.69 by $0.47. The firm had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.04 billion. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.74 EPS. Research analysts predict that LPL Financial Holdings Inc. will post 16.07 earnings per share for the current fiscal year.
LPL Financial Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.34%. The ex-dividend date was Thursday, November 14th. LPL Financial’s payout ratio is currently 9.02%.
Analyst Ratings Changes
LPLA has been the subject of several analyst reports. Morgan Stanley boosted their price target on LPL Financial from $303.00 to $309.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Jefferies Financial Group reduced their target price on LPL Financial from $309.00 to $282.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. Wells Fargo & Company lifted their price target on LPL Financial from $310.00 to $390.00 and gave the company an “overweight” rating in a report on Thursday, December 12th. Citigroup increased their price objective on shares of LPL Financial from $310.00 to $385.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of LPL Financial from $325.00 to $390.00 and gave the company an “outperform” rating in a report on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $351.50.
Read Our Latest Analysis on LPL Financial
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.
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