Schechter Investment Advisors LLC Has $901,000 Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Schechter Investment Advisors LLC lifted its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 149.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,761 shares of the financial services provider’s stock after acquiring an additional 1,655 shares during the period. Schechter Investment Advisors LLC’s holdings in LPL Financial were worth $901,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Wealth Alliance raised its position in shares of LPL Financial by 2.1% in the 4th quarter. Wealth Alliance now owns 1,483 shares of the financial services provider’s stock valued at $484,000 after acquiring an additional 30 shares during the period. Sanchez Wealth Management Group raised its position in shares of LPL Financial by 2.1% in the 4th quarter. Sanchez Wealth Management Group now owns 1,686 shares of the financial services provider’s stock valued at $551,000 after acquiring an additional 35 shares during the period. Mather Group LLC. raised its position in shares of LPL Financial by 4.1% in the 4th quarter. Mather Group LLC. now owns 916 shares of the financial services provider’s stock valued at $299,000 after acquiring an additional 36 shares during the period. Bridges Investment Management Inc. raised its position in shares of LPL Financial by 3.2% in the 3rd quarter. Bridges Investment Management Inc. now owns 1,185 shares of the financial services provider’s stock valued at $276,000 after acquiring an additional 37 shares during the period. Finally, Avior Wealth Management LLC raised its position in shares of LPL Financial by 1.8% in the 3rd quarter. Avior Wealth Management LLC now owns 2,416 shares of the financial services provider’s stock valued at $562,000 after acquiring an additional 42 shares during the period. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at LPL Financial

In related news, Director Marc Eliot Cohen sold 1,100 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was 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 of the company’s stock, valued at $1,490,838.75. The trade was a 21.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Matthew J. Audette sold 4,588 shares of LPL Financial stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $360.07, for a total value of $1,652,001.16. Following the completion of the transaction, the chief financial officer now owns 16,538 shares in the company, valued at approximately $5,954,837.66. This represents a 21.72 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,770 shares of company stock valued at $12,663,312. 1.30% of the stock is currently owned by corporate insiders.

LPL Financial Price Performance

NASDAQ:LPLA opened at $358.86 on Tuesday. The firm has a fifty day simple moving average of $352.80 and a 200 day simple moving average of $296.76. LPL Financial Holdings Inc. has a 1-year low of $187.19 and a 1-year high of $384.04. The stock has a market capitalization of $26.76 billion, a PE ratio of 25.56, a P/E/G ratio of 0.94 and a beta of 0.87. 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 (NASDAQ:LPLA) last announced its quarterly earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share (EPS) for the quarter, beating 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%. On average, research analysts expect that LPL Financial Holdings Inc. will post 19.35 EPS 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. Stockholders of record on Tuesday, March 11th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date of this dividend is Tuesday, March 11th. LPL Financial’s dividend payout ratio is currently 8.55%.

Analysts Set New Price Targets

A number of analysts recently weighed in on LPLA shares. StockNews.com upgraded shares of LPL Financial from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. UBS Group increased their target price on LPL Financial from $390.00 to $420.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. raised their price target on shares of LPL Financial from $397.00 to $405.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Citigroup raised their price target on shares of LPL Financial from $310.00 to $385.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $435.00 price target on shares of LPL Financial in a research note on Friday, January 31st. 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 an average target price of $379.17.

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.