Oliver Luxxe Assets LLC Grows Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Oliver Luxxe Assets LLC grew its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 5.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,794 shares of the financial services provider’s stock after acquiring an additional 421 shares during the period. Oliver Luxxe Assets LLC’s holdings in LPL Financial were worth $2,871,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Ashton Thomas Private Wealth LLC acquired a new position in LPL Financial in the 2nd quarter worth about $25,000. Ashton Thomas Securities LLC acquired a new position in shares of LPL Financial during the 3rd quarter worth approximately $31,000. Paladin Wealth LLC purchased a new position in shares of LPL Financial during the 3rd quarter valued at approximately $34,000. Brooklyn Investment Group acquired a new stake in LPL Financial in the 3rd quarter valued at $43,000. Finally, First Horizon Advisors Inc. increased its holdings in LPL Financial by 32.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 385 shares of the financial services provider’s stock worth $90,000 after acquiring an additional 94 shares in the last quarter. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Keefe, Bruyette & Woods lifted their target price on shares of LPL Financial from $325.00 to $390.00 and gave the company an “outperform” rating in a research report on Friday, December 20th. JMP Securities reiterated a “market outperform” rating and issued a $310.00 price objective on shares of LPL Financial in a report on Wednesday, October 9th. Citigroup boosted their price objective on LPL Financial from $285.00 to $310.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. UBS Group upgraded LPL Financial from a “neutral” rating to a “buy” rating and set a $390.00 target price on the stock in a research report on Monday. Finally, Jefferies Financial Group dropped their price target on LPL Financial from $309.00 to $282.00 and set a “buy” rating for the company in a research report on Friday, October 4th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $334.42.

Insider Transactions at LPL Financial

In other LPL Financial news, Director Aneri Jambusaria sold 305 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $331.94, for a total value of $101,241.70. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.30% of the company’s stock.

LPL Financial Trading Up 1.7 %

Shares of NASDAQ LPLA traded up $5.58 during trading on Monday, hitting $338.67. 385,144 shares of the company were exchanged, compared to its average volume of 463,919. The company has a fifty day moving average price of $316.97 and a 200-day moving average price of $263.88. 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 firm has a market capitalization of $25.36 billion, a PE ratio of 25.46, a P/E/G ratio of 1.60 and a beta of 0.86. LPL Financial Holdings Inc. has a 12-month low of $187.19 and a 12-month high of $344.86.

LPL Financial (NASDAQ:LPLA) last issued its earnings results on Wednesday, October 30th. The financial services provider reported $4.16 EPS for the quarter, topping analysts’ consensus estimates of $3.69 by $0.47. The company had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.04 billion. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. LPL Financial’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.74 earnings per share. As a group, equities research analysts expect that LPL Financial Holdings Inc. will post 16.1 EPS for the current year.

LPL Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.35%. The ex-dividend date was Thursday, November 14th. LPL Financial’s dividend payout ratio (DPR) is presently 9.02%.

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.