LPL Financial Holdings Inc. (NASDAQ:LPLA) Stake Raised by Park Avenue Securities LLC

Park Avenue Securities LLC lifted its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 5.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,849 shares of the financial services provider’s stock after acquiring an additional 210 shares during the quarter. Park Avenue Securities LLC’s holdings in LPL Financial were worth $1,257,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Assenagon Asset Management S.A. raised its holdings in shares of LPL Financial by 4.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 31,209 shares of the financial services provider’s stock valued at $10,190,000 after acquiring an additional 1,383 shares during the period. Oak Thistle LLC raised its stake in LPL Financial by 122.0% during the 4th quarter. Oak Thistle LLC now owns 1,991 shares of the financial services provider’s stock valued at $650,000 after purchasing an additional 1,094 shares during the period. Quantum Financial Advisors LLC purchased a new stake in shares of LPL Financial in the fourth quarter valued at $208,000. Horizon Wealth Management LLC acquired a new stake in shares of LPL Financial in the fourth quarter worth $203,000. Finally, Wedmont Private Capital grew its holdings in shares of LPL Financial by 3.6% during the fourth quarter. Wedmont Private Capital now owns 1,578 shares of the financial services provider’s stock valued at $521,000 after buying an additional 55 shares in the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

Insider Buying and Selling

In related 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 completion of the sale, the director now owns 3,920 shares in the company, valued at $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 is available through this link. 1.30% of the stock is owned by insiders.

LPL Financial Price Performance

NASDAQ LPLA opened at $348.93 on Monday. LPL Financial Holdings Inc. has a fifty-two week low of $187.19 and a fifty-two week high of $350.38. The stock’s 50-day moving average is $327.62 and its two-hundred day moving average is $267.75. The firm has a market cap of $26.13 billion, a P/E ratio of 26.24, a price-to-earnings-growth ratio of 1.03 and a beta of 0.87. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 EPS for the quarter, beating analysts’ consensus estimates of $3.69 by $0.47. LPL Financial had a return on equity of 49.47% and a net margin of 8.73%. The business had revenue of $3.11 billion for the quarter, compared to analyst estimates of $3.04 billion. During the same quarter in the prior year, the firm posted $3.74 EPS. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, analysts anticipate that LPL Financial Holdings Inc. will post 16.07 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date was Thursday, November 14th. LPL Financial’s payout ratio is 9.02%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Morgan Stanley increased their price objective on LPL Financial from $303.00 to $309.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Citigroup increased their price target on shares of LPL Financial from $310.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. TD Cowen raised shares of LPL Financial from a “hold” rating to a “buy” rating and boosted their price objective for the company from $277.00 to $413.00 in a research report on Thursday, December 19th. Jefferies Financial Group dropped their price objective on shares of LPL Financial from $309.00 to $282.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. Finally, Keefe, Bruyette & Woods boosted their price target 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 analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $351.50.

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.