Dakota Wealth Management Buys Shares of 986 LPL Financial Holdings Inc. (NASDAQ:LPLA)

Dakota Wealth Management purchased a new position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 986 shares of the financial services provider’s stock, valued at approximately $322,000.

Other institutional investors have also modified their holdings of the company. Nisa Investment Advisors LLC grew its stake in LPL Financial by 168.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,178 shares of the financial services provider’s stock worth $711,000 after acquiring an additional 1,368 shares during the period. ZWJ Investment Counsel Inc. purchased a new stake in shares of LPL Financial in the fourth quarter valued at $260,000. Koshinski Asset Management Inc. acquired a new position in LPL Financial in the fourth quarter valued at $253,000. UMB Bank n.a. lifted its position in LPL Financial by 9,865.1% during the fourth quarter. UMB Bank n.a. now owns 14,848 shares of the financial services provider’s stock worth $4,848,000 after buying an additional 14,699 shares during the period. Finally, LVW Advisors LLC boosted its stake in LPL Financial by 2.0% in the 4th quarter. LVW Advisors LLC now owns 4,171 shares of the financial services provider’s stock worth $1,362,000 after buying an additional 83 shares during the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

Insider Transactions at LPL Financial

In related news, Director Aneri Jambusaria sold 305 shares of LPL Financial stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $331.94, for a total value of $101,241.70. Following the completion of the sale, the director now directly owns 3,920 shares in the company, valued at $1,301,204.80. This trade represents a 7.22 % decrease in their ownership of the stock. 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 owned by company insiders.

LPL Financial Stock Up 0.4 %

LPLA opened at $360.29 on Friday. The company has a market capitalization of $26.98 billion, a P/E ratio of 27.09, a P/E/G ratio of 1.09 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. The firm’s fifty day moving average price is $331.55 and its two-hundred day moving average price is $270.59. LPL Financial Holdings Inc. has a fifty-two week low of $187.19 and a fifty-two week high of $361.63.

LPL Financial (NASDAQ:LPLA) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share for the quarter, topping the consensus estimate of $3.69 by $0.47. The business had revenue of $3.11 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.74 EPS. On average, analysts anticipate that LPL Financial Holdings Inc. will post 16.17 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on LPLA. Wells Fargo & Company raised their target price on shares of LPL Financial from $310.00 to $390.00 and gave the stock an “overweight” rating in a research report on Thursday, December 12th. Jefferies Financial Group dropped their price objective on LPL Financial from $309.00 to $282.00 and set a “buy” rating for the company in a report on Friday, October 4th. JMP Securities reiterated a “market outperform” rating and issued a $310.00 target price on shares of LPL Financial in a report on Wednesday, October 9th. Citigroup upped their price target on LPL Financial from $310.00 to $385.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Finally, TD Cowen raised LPL Financial from a “hold” rating to a “buy” rating and lifted their price objective for the company from $277.00 to $413.00 in a research note on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, LPL Financial presently has an average rating of “Moderate Buy” and a consensus target price of $351.50.

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.