J.Safra Asset Management Corp Buys 261 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

J.Safra Asset Management Corp boosted its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 70.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 634 shares of the financial services provider’s stock after purchasing an additional 261 shares during the period. J.Safra Asset Management Corp’s holdings in LPL Financial were worth $207,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new position in LPL Financial during the third quarter valued at approximately $31,000. Brooklyn Investment Group bought a new position in LPL Financial during the third quarter valued at approximately $43,000. Jones Financial Companies Lllp lifted its position in LPL Financial by 45.3% during the fourth quarter. Jones Financial Companies Lllp now owns 138 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 43 shares during the period. Compass Financial Services Inc bought a new position in LPL Financial during the fourth quarter valued at approximately $65,000. Finally, R Squared Ltd bought a new position in LPL Financial during the fourth quarter valued at approximately $78,000. Institutional investors own 95.66% of the company’s stock.

Insider Activity at LPL Financial

In related news, Director Marc Eliot Cohen sold 1,100 shares of the firm’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $365.85, for a total transaction of $402,435.00. Following the completion of the transaction, the director now directly owns 4,075 shares of the company’s stock, valued at approximately $1,490,838.75. This trade represents a 21.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Matthew J. Audette sold 28,777 shares of the firm’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $365.14, for a total transaction of $10,507,633.78. Following the transaction, the chief financial officer now directly owns 13,663 shares of the company’s stock, valued at $4,988,907.82. The trade was a 67.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,770 shares of company stock valued at $12,663,312. Corporate insiders own 1.30% of the company’s stock.

LPL Financial Stock Performance

Shares of NASDAQ LPLA opened at $336.46 on Wednesday. The firm has a fifty day moving average price of $353.39 and a 200-day moving average price of $297.74. 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 stock has a market cap of $25.09 billion, a PE ratio of 23.96, a price-to-earnings-growth ratio of 0.94 and a beta of 0.87. LPL Financial Holdings Inc. has a 1 year low of $187.19 and a 1 year high of $384.04.

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, beating the consensus estimate of $4.01 by $0.24. LPL Financial had a net margin of 8.55% and a return on equity of 49.41%. Equities analysts anticipate that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th will be paid a dividend of $0.30 per share. The ex-dividend date is Tuesday, March 11th. This represents a $1.20 annualized dividend and a yield of 0.36%. LPL Financial’s payout ratio is 8.55%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on LPLA shares. Barclays upped their target price on shares of LPL Financial from $389.00 to $414.00 and gave the company an “overweight” rating in a report on Friday, January 31st. UBS Group upped their target price on shares of LPL Financial from $390.00 to $420.00 and gave the company a “buy” rating in a report on Friday, January 31st. JMP Securities reaffirmed a “market outperform” rating and set a $435.00 target price on shares of LPL Financial in a report on Friday, January 31st. StockNews.com raised shares of LPL Financial from a “sell” rating to a “hold” rating in a report on Saturday, November 9th. Finally, JPMorgan Chase & Co. upped their target price on shares of LPL Financial from $397.00 to $405.00 and gave the company an “overweight” rating in a report on Friday, January 31st. One equities research 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. According to MarketBeat.com, the stock presently has a consensus 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.