Proficio Capital Partners LLC Invests $27.52 Million in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Proficio Capital Partners LLC acquired a new stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 84,278 shares of the financial services provider’s stock, valued at approximately $27,518,000. Proficio Capital Partners LLC owned 0.11% of LPL Financial at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LPLA. Ashton Thomas Securities LLC acquired a new position in shares of LPL Financial during the 3rd quarter worth about $31,000. Brooklyn Investment Group acquired a new position in LPL Financial during the third quarter valued at approximately $43,000. Jones Financial Companies Lllp grew its holdings in LPL Financial by 45.3% during the fourth quarter. Jones Financial Companies Lllp now owns 138 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 43 shares during the period. Compass Financial Services Inc bought a new stake in LPL Financial in the fourth quarter valued at approximately $65,000. Finally, R Squared Ltd acquired a new stake in LPL Financial in the fourth quarter worth $78,000. 95.66% of the stock is owned by institutional investors.

Insider Activity at LPL Financial

In other LPL Financial news, Director Marc Eliot Cohen sold 1,100 shares of the stock in a transaction on 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 sale, 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Matthew J. Audette sold 4,588 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $360.07, for a total transaction of $1,652,001.16. Following the transaction, the chief financial officer now owns 16,538 shares in the company, valued at $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. Over the last three months, insiders sold 34,465 shares of company stock valued at $12,562,070. 1.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on LPLA shares. JMP Securities restated a “market outperform” rating and issued a $435.00 price objective on shares of LPL Financial in a research report on Friday, January 31st. Wells Fargo & Company raised their price target on LPL Financial from $390.00 to $405.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Keefe, Bruyette & Woods lifted their price objective on LPL Financial from $390.00 to $405.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Morgan Stanley increased their target price on LPL Financial from $379.00 to $413.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Finally, UBS Group lifted their price target on shares of LPL Financial from $390.00 to $420.00 and gave the company a “buy” rating in a research note on Friday, January 31st. One 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 company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $379.17.

LPL Financial Stock Up 4.2 %

Shares of LPLA stock opened at $321.99 on Friday. The firm’s fifty day moving average price is $352.58 and its two-hundred day moving average price is $302.47. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. LPL Financial Holdings Inc. has a 1 year low of $187.19 and a 1 year high of $384.04. The firm has a market capitalization of $24.05 billion, a P/E ratio of 22.93, a PEG ratio of 0.94 and a beta of 0.82.

LPL Financial (NASDAQ:LPLA) last released its earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 predict that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.37%. The ex-dividend date is Tuesday, March 11th. LPL Financial’s payout ratio is presently 8.55%.

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.