Sei Investments Co. Buys 28,072 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Sei Investments Co. increased its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 32.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 115,732 shares of the financial services provider’s stock after purchasing an additional 28,072 shares during the quarter. Sei Investments Co.’s holdings in LPL Financial were worth $37,789,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wealth Alliance grew its stake in LPL Financial by 2.1% in the fourth quarter. Wealth Alliance now owns 1,483 shares of the financial services provider’s stock valued at $484,000 after acquiring an additional 30 shares during the period. Sanchez Wealth Management Group lifted its holdings in shares of LPL Financial by 2.1% in the 4th quarter. Sanchez Wealth Management Group now owns 1,686 shares of the financial services provider’s stock worth $551,000 after purchasing an additional 35 shares in the last quarter. Mather Group LLC. grew its position in LPL Financial by 4.1% in the 4th quarter. Mather Group LLC. now owns 916 shares of the financial services provider’s stock valued at $299,000 after purchasing an additional 36 shares during the period. Signaturefd LLC increased its stake in LPL Financial by 3.1% during the 4th quarter. Signaturefd LLC now owns 1,352 shares of the financial services provider’s stock valued at $441,000 after purchasing an additional 41 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its holdings 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 worth $45,000 after buying an additional 43 shares during the last quarter. 95.66% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on LPLA shares. TD Cowen raised shares of LPL Financial from a “hold” rating to a “buy” rating and boosted their target price for the stock from $277.00 to $413.00 in a research report on Thursday, December 19th. Morgan Stanley increased their price objective on LPL Financial from $379.00 to $413.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Barclays lifted their target price on LPL Financial from $389.00 to $414.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. StockNews.com lowered LPL Financial from a “hold” rating to a “sell” rating in a research report on Monday, March 17th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $435.00 price objective on shares of LPL Financial in a report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, LPL Financial currently has an average rating of “Moderate Buy” and a consensus target price of $379.17.

LPL Financial Price Performance

LPL Financial 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 company has a market cap 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. The business’s 50 day simple moving average is $352.24 and its 200 day simple moving average is $308.94.

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

LPL Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th will be given a dividend of $0.30 per share. The ex-dividend date is Tuesday, March 11th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.35%. LPL Financial’s dividend payout ratio (DPR) is presently 8.55%.

Insider Buying and Selling

In other 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 sale, the director now owns 4,075 shares in the company, valued at approximately $1,490,838.75. This trade represents a 21.26 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Matthew J. Audette sold 4,588 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $360.07, for a total transaction of $1,652,001.16. Following the completion of the transaction, the chief financial officer now owns 16,538 shares of the company’s stock, valued at $5,954,837.66. This trade represents a 21.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,465 shares of company stock worth $12,562,070. Insiders own 1.30% of the company’s stock.

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.