Prudential PLC Grows Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Prudential PLC boosted its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 109.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,757 shares of the financial services provider’s stock after acquiring an additional 3,010 shares during the period. Prudential PLC’s holdings in LPL Financial were worth $1,880,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Boston Partners grew its stake in shares of LPL Financial by 26.0% during the fourth quarter. Boston Partners now owns 3,905,541 shares of the financial services provider’s stock worth $1,278,454,000 after purchasing an additional 805,637 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of LPL Financial by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 1,459,942 shares of the financial services provider’s stock worth $475,946,000 after acquiring an additional 23,111 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of LPL Financial by 27.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider’s stock worth $296,635,000 after acquiring an additional 276,166 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in LPL Financial by 57.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,115,708 shares of the financial services provider’s stock worth $364,290,000 after purchasing an additional 405,341 shares during the last quarter. Finally, Norges Bank acquired a new position in LPL Financial in the fourth quarter valued at approximately $305,747,000. 95.66% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at LPL Financial

In other LPL Financial news, CFO Matthew J. Audette sold 28,777 shares of the company’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $365.14, for a total value of $10,507,633.78. Following the sale, the chief financial officer now owns 13,663 shares of the company’s stock, valued at approximately $4,988,907.82. This represents a 67.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Marc Eliot Cohen sold 1,100 shares of LPL Financial stock in a transaction 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 transaction, the director now directly owns 4,075 shares of the company’s stock, valued at $1,490,838.75. This trade represents a 21.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,465 shares of company stock valued at $12,562,070 in the last ninety days. 1.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Wells Fargo & Company raised their price objective on shares of LPL Financial from $390.00 to $405.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Barclays boosted their price target on shares of LPL Financial from $389.00 to $414.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Keefe, Bruyette & Woods raised their price objective on LPL Financial from $390.00 to $405.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. TD Cowen raised LPL Financial from a “hold” rating to a “buy” rating and boosted their target price for the company from $277.00 to $413.00 in a report on Thursday, December 19th. Finally, Morgan Stanley raised their price target on LPL Financial from $379.00 to $413.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $380.42.

LPL Financial Stock Down 9.4 %

Shares of LPL Financial stock opened at $283.31 on Monday. The company has a market cap of $21.13 billion, a P/E ratio of 20.18, a PEG ratio of 0.94 and a beta of 0.64. The firm has a fifty day moving average of $348.34 and a two-hundred day moving average of $316.43. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. LPL Financial Holdings Inc. has a one year low of $187.19 and a one year high of $384.04.

LPL Financial (NASDAQ:LPLA) last released its earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share (EPS) for the quarter, topping 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, analysts forecast that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th were given a dividend of $0.30 per share. The ex-dividend date was Tuesday, March 11th. This represents a $1.20 annualized dividend and a dividend yield of 0.42%. LPL Financial’s payout ratio is currently 8.55%.

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.