26,100 Shares in LPL Financial Holdings Inc. (NASDAQ:LPLA) Purchased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS purchased a new stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 26,100 shares of the financial services provider’s stock, valued at approximately $8,522,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Sei Investments Co. lifted its position in LPL Financial by 32.0% during the fourth quarter. Sei Investments Co. now owns 115,732 shares of the financial services provider’s stock valued at $37,789,000 after purchasing an additional 28,072 shares during the last quarter. American Century Companies Inc. grew its position in LPL Financial by 3.3% in the fourth quarter. American Century Companies Inc. now owns 489,580 shares of the financial services provider’s stock worth $159,853,000 after acquiring an additional 15,554 shares in the last quarter. Virtu Financial LLC purchased a new position in LPL Financial in the fourth quarter worth $260,000. TD Private Client Wealth LLC increased its stake in LPL Financial by 4.2% in the fourth quarter. TD Private Client Wealth LLC now owns 12,592 shares of the financial services provider’s stock valued at $4,111,000 after acquiring an additional 513 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its position in LPL Financial by 5.1% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 12,965 shares of the financial services provider’s stock valued at $4,233,000 after purchasing an additional 633 shares in the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

LPL Financial Price Performance

LPLA stock opened at $341.74 on Tuesday. 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 firm’s 50-day moving average price is $352.24 and its two-hundred day moving average price is $308.94. The stock has a market capitalization of $25.52 billion, a price-to-earnings ratio of 24.34, a PEG ratio of 0.94 and a beta of 0.82. LPL Financial Holdings Inc. has a 12-month low of $187.19 and a 12-month high of $384.04.

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

LPL Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend is Tuesday, March 11th. LPL Financial’s dividend payout ratio (DPR) is currently 8.55%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on LPLA. Wells Fargo & Company upped their price objective on LPL Financial from $390.00 to $405.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Keefe, Bruyette & Woods upped their target price on LPL Financial from $390.00 to $405.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Citigroup lifted 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. UBS Group upped their price objective on shares of LPL Financial from $390.00 to $420.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. increased 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. Two analysts have rated the stock with a sell rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, LPL Financial has a consensus rating of “Moderate Buy” and a consensus price target of $379.17.

Insider Buying and Selling at LPL Financial

In other LPL Financial news, CFO Matthew J. Audette sold 28,777 shares of LPL Financial stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 13,663 shares of the company’s stock, valued at approximately $4,988,907.82. The trade was a 67.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Marc Eliot Cohen sold 1,100 shares of the stock in a transaction that occurred on 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 directly owns 4,075 shares of the company’s stock, valued at $1,490,838.75. This represents a 21.26 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,465 shares of company stock valued at $12,562,070. 1.30% of the stock is currently owned by company 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.