913 Shares in LPL Financial Holdings Inc. (NASDAQ:LPLA) Purchased by Good Life Advisors LLC

Good Life Advisors LLC purchased a new stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 913 shares of the financial services provider’s stock, valued at approximately $298,000.

Other institutional investors also recently made changes to their positions in the company. Prossimo Advisors LLC grew its position in LPL Financial by 69.4% during the fourth quarter. Prossimo Advisors LLC now owns 3,785 shares of the financial services provider’s stock valued at $1,236,000 after acquiring an additional 1,550 shares during the period. Valley Wealth Managers Inc. lifted its stake in shares of LPL Financial by 16.8% in the 4th quarter. Valley Wealth Managers Inc. now owns 2,319 shares of the financial services provider’s stock valued at $757,000 after purchasing an additional 334 shares in the last quarter. Pinnbrook Capital Management LP purchased a new stake in shares of LPL Financial during the 4th quarter worth about $4,991,000. Truist Financial Corp increased its position in LPL Financial by 7.9% during the 4th quarter. Truist Financial Corp now owns 192,153 shares of the financial services provider’s stock worth $62,740,000 after purchasing an additional 14,106 shares in the last quarter. Finally, CIBC Asset Management Inc increased its position in shares of LPL Financial by 20.1% in the fourth quarter. CIBC Asset Management Inc now owns 3,301 shares of the financial services provider’s stock worth $1,078,000 after acquiring an additional 552 shares in the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on LPLA shares. TD Cowen upgraded LPL Financial from a “hold” rating to a “buy” rating and raised their target price for the company from $277.00 to $413.00 in a report on Thursday, December 19th. JMP Securities reissued a “market outperform” rating and set a $435.00 target price on shares of LPL Financial in a research report on Friday, January 31st. Keefe, Bruyette & Woods upped their target price on shares of LPL Financial from $390.00 to $405.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. The Goldman Sachs Group lifted their price target on shares of LPL Financial from $271.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Morgan Stanley upped their price objective 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. One research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, LPL Financial currently has an average rating of “Moderate Buy” and a consensus target price of $379.17.

LPL Financial Stock Down 1.0 %

NASDAQ:LPLA opened at $379.46 on Friday. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. The company has a market capitalization of $28.41 billion, a price-to-earnings ratio of 27.03, a price-to-earnings-growth ratio of 0.94 and a beta of 0.87. LPL Financial Holdings Inc. has a one year low of $187.19 and a one year high of $383.61. The stock has a 50-day simple moving average of $348.16 and a 200 day simple moving average of $288.42.

LPL Financial (NASDAQ:LPLA) last issued its earnings results on Thursday, January 30th. The financial services provider reported $4.25 EPS for the quarter, topping the consensus estimate of $4.01 by $0.24. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. Sell-side analysts predict that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $1.20 annualized dividend and a yield of 0.32%. LPL Financial’s payout ratio is 8.55%.

Insiders Place Their Bets

In related news, Director Aneri Jambusaria sold 305 shares of the business’s stock in a transaction dated Thursday, December 5th. The shares were 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 of the company’s stock, valued at $1,301,204.80. This represents a 7.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Matthew J. Audette sold 28,777 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $365.14, for a total transaction of $10,507,633.78. Following the completion of the transaction, the chief financial officer now directly owns 13,663 shares in the company, valued at $4,988,907.82. This represents a 67.81 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

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.