Proficio Capital Partners LLC Takes Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Proficio Capital Partners LLC bought a new position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 84,278 shares of the financial services provider’s stock, valued at approximately $27,518,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new stake in LPL Financial during the third quarter worth approximately $31,000. Brooklyn Investment Group bought a new position in shares of LPL Financial during the third quarter worth approximately $43,000. Jones Financial Companies Lllp lifted its holdings in LPL Financial by 45.3% during the 4th quarter. Jones Financial Companies Lllp now owns 138 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 43 shares during the last quarter. Compass Financial Services Inc bought a new stake in LPL Financial in the 4th quarter valued at $65,000. Finally, R Squared Ltd acquired a new position in LPL Financial in the 4th quarter valued at $78,000. Institutional investors and hedge funds own 95.66% of the company’s stock.

Wall Street Analysts Forecast Growth

LPLA has been the subject of a number of research reports. Barclays lifted their target price on LPL Financial from $389.00 to $414.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Wells Fargo & Company boosted their price objective on shares of LPL Financial from $390.00 to $405.00 and gave the company an “overweight” rating in a report on Friday, January 31st. JMP Securities restated a “market outperform” rating and set a $435.00 target price on shares of LPL Financial in a research report on Friday, January 31st. Morgan Stanley lifted their price target on shares of LPL Financial from $379.00 to $413.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Finally, JPMorgan Chase & Co. increased their price target on LPL Financial from $397.00 to $405.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $379.17.

LPL Financial Stock Up 4.2 %

Shares of NASDAQ LPLA opened at $321.99 on Friday. The stock has a 50-day moving average price of $352.58 and a two-hundred day moving average price of $302.47. LPL Financial Holdings Inc. has a 12 month low of $187.19 and a 12 month high of $384.04. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. The company has a market cap of $24.05 billion, a price-to-earnings ratio of 22.93, a PEG ratio of 0.94 and a beta of 0.82.

LPL Financial (NASDAQ:LPLA) last posted its earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share for the quarter, topping analysts’ consensus estimates of $4.01 by $0.24. LPL Financial had a net margin of 8.55% and a return on equity of 49.41%. As a group, analysts forecast that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

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

Insider Activity

In related news, Director Marc Eliot Cohen sold 1,100 shares of the firm’s stock in a transaction that occurred 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 transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Matthew J. Audette sold 4,588 shares of the business’s stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 16,538 shares in the company, valued at $5,954,837.66. The trade was 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 have sold 34,465 shares of company stock valued at $12,562,070. 1.00% of the stock is currently owned by corporate insiders.

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.