Sanchez Wealth Management Group Purchases 35 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Sanchez Wealth Management Group increased its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 2.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,686 shares of the financial services provider’s stock after purchasing an additional 35 shares during the quarter. Sanchez Wealth Management Group’s holdings in LPL Financial were worth $551,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Kingsview Wealth Management LLC purchased a new position in shares of LPL Financial during the 4th quarter valued at about $242,000. Apollon Wealth Management LLC raised its stake in LPL Financial by 6.9% during the 4th quarter. Apollon Wealth Management LLC now owns 972 shares of the financial services provider’s stock worth $317,000 after acquiring an additional 63 shares during the period. Golden State Wealth Management LLC bought a new stake in LPL Financial during the 4th quarter worth approximately $163,000. Ameliora Wealth Management Ltd. bought a new position in shares of LPL Financial in the fourth quarter worth approximately $108,000. Finally, Choreo LLC boosted its position in shares of LPL Financial by 60.6% in the fourth quarter. Choreo LLC now owns 1,698 shares of the financial services provider’s stock worth $555,000 after purchasing an additional 641 shares during the period. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. TD Cowen upgraded shares of LPL Financial from a “hold” rating to a “buy” rating and raised their price objective for the company from $277.00 to $413.00 in a research report on Thursday, December 19th. Barclays raised their price target on LPL Financial from $389.00 to $414.00 and gave the company an “overweight” rating in a report on Friday, January 31st. StockNews.com raised LPL Financial from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th. JPMorgan Chase & Co. lifted their target price on LPL Financial from $397.00 to $405.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, Keefe, Bruyette & Woods increased their price objective on shares of LPL Financial from $390.00 to $405.00 and gave the company an “outperform” rating in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $379.17.

Insider Activity at LPL Financial

In related news, CFO Matthew J. Audette sold 28,777 shares of LPL Financial stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 13,663 shares in the company, valued at $4,988,907.82. This trade represents a 67.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Aneri Jambusaria sold 305 shares of the company’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $331.94, for a total transaction of $101,241.70. Following the completion of the transaction, the director now owns 3,920 shares in the company, valued at $1,301,204.80. This represents a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.

LPL Financial Trading Down 0.5 %

LPLA opened at $369.14 on Friday. LPL Financial Holdings Inc. has a 12 month low of $187.19 and a 12 month high of $375.84. 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 stock has a 50-day moving average of $338.85 and a 200 day moving average of $277.76. The firm has a market cap of $27.64 billion, a P/E ratio of 26.29, a P/E/G ratio of 0.93 and a beta of 0.87.

LPL Financial (NASDAQ:LPLA) last announced its earnings results on Thursday, January 30th. The financial services provider reported $4.25 EPS for the quarter, topping 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, research analysts forecast that LPL Financial Holdings Inc. will post 19.14 EPS for the current 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 $0.30 dividend. The ex-dividend date is Tuesday, March 11th. This represents a $1.20 annualized dividend and a dividend yield of 0.33%. LPL Financial’s dividend payout ratio (DPR) is presently 8.55%.

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.