Koshinski Asset Management Inc. Takes $253,000 Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Koshinski Asset Management Inc. purchased a new position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 774 shares of the financial services provider’s stock, valued at approximately $253,000.

Several other large investors also recently bought and sold shares of LPLA. FMR LLC lifted its stake in LPL Financial by 24.4% in the 3rd quarter. FMR LLC now owns 3,322,571 shares of the financial services provider’s stock worth $772,930,000 after purchasing an additional 650,675 shares in the last quarter. JPMorgan Chase & Co. lifted its position in LPL Financial by 27.6% during the third quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider’s stock worth $296,635,000 after buying an additional 276,166 shares in the last quarter. Southpoint Capital Advisors LP boosted its stake in LPL Financial by 50.0% during the third quarter. Southpoint Capital Advisors LP now owns 750,000 shares of the financial services provider’s stock worth $174,472,000 after buying an additional 250,000 shares during the last quarter. Maverick Capital Ltd. grew its holdings in LPL Financial by 82.0% in the 3rd quarter. Maverick Capital Ltd. now owns 497,075 shares of the financial services provider’s stock valued at $115,635,000 after buying an additional 223,931 shares in the last quarter. Finally, Azora Capital LP increased its stake in shares of LPL Financial by 52.2% in the 3rd quarter. Azora Capital LP now owns 643,544 shares of the financial services provider’s stock worth $149,708,000 after acquiring an additional 220,622 shares during the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Insider Activity at LPL Financial

In other news, Director Aneri Jambusaria sold 305 shares of LPL Financial stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $331.94, for a total value of $101,241.70. Following the completion of the transaction, the director now owns 3,920 shares in the company, valued at approximately $1,301,204.80. This trade represents a 7.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.30% of the stock is currently owned by company insiders.

LPL Financial Stock Performance

NASDAQ LPLA opened at $358.78 on Friday. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. The company has a market cap of $26.87 billion, a P/E ratio of 26.98, a P/E/G ratio of 1.08 and a beta of 0.87. The stock has a 50-day moving average of $329.74 and a two-hundred day moving average of $269.38. LPL Financial Holdings Inc. has a 1-year low of $187.19 and a 1-year high of $361.63.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share for the quarter, beating analysts’ consensus estimates of $3.69 by $0.47. The firm had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $3.04 billion. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.74 earnings per share. As a group, analysts anticipate that LPL Financial Holdings Inc. will post 16.17 EPS for the current year.

LPL Financial Announces Dividend

The business also recently disclosed 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 0.33%. The ex-dividend date of this dividend was Thursday, November 14th. LPL Financial’s payout ratio is currently 9.02%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on LPLA shares. The Goldman Sachs Group boosted their price target on shares of LPL Financial from $271.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, November 1st. StockNews.com raised shares of LPL Financial from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th. Wells Fargo & Company lifted their price target on shares of LPL Financial from $310.00 to $390.00 and gave the company an “overweight” rating in a research report on Thursday, December 12th. Barclays increased their price objective on LPL Financial from $378.00 to $379.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Finally, JMP Securities restated a “market outperform” rating and issued a $310.00 target price on shares of LPL Financial in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $351.50.

LPL Financial 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.