DAVENPORT & Co LLC Purchases 53 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

DAVENPORT & Co LLC increased its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 3.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,762 shares of the financial services provider’s stock after purchasing an additional 53 shares during the period. DAVENPORT & Co LLC’s holdings in LPL Financial were worth $575,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Ashton Thomas Securities LLC bought a new stake in shares of LPL Financial during the third quarter valued at approximately $31,000. Paladin Wealth LLC bought a new stake in shares of LPL Financial during the third quarter valued at approximately $34,000. Brooklyn Investment Group bought a new stake in shares of LPL Financial during the third quarter valued at approximately $43,000. R Squared Ltd bought a new stake in shares of LPL Financial during the fourth quarter valued at approximately $78,000. Finally, First Horizon Advisors Inc. increased its position in shares of LPL Financial by 32.3% during the third quarter. First Horizon Advisors Inc. now owns 385 shares of the financial services provider’s stock valued at $90,000 after purchasing an additional 94 shares during the period. 95.66% of the stock is currently owned by institutional investors.

LPL Financial Price Performance

Shares of LPLA stock opened at $369.14 on Friday. The stock’s fifty day moving average is $338.85 and its 200-day moving average is $277.76. 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 stock has a market capitalization of $27.64 billion, a PE ratio of 26.29, a PEG ratio of 1.13 and a beta of 0.87. LPL Financial Holdings Inc. has a 52 week low of $187.19 and a 52 week high of $375.84.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts expect that LPL Financial Holdings Inc. will post 19.4 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.33%. The ex-dividend date is Tuesday, March 11th. LPL Financial’s dividend payout ratio (DPR) is presently 8.55%.

Insider Activity

In other LPL Financial news, Director Aneri Jambusaria sold 305 shares of the firm’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 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Matthew J. Audette sold 28,777 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now owns 13,663 shares in the company, valued at approximately $4,988,907.82. This trade represents a 67.81 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on LPLA shares. Citigroup upped their price target on LPL Financial from $310.00 to $385.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Wells Fargo & Company upped their price target on LPL Financial from $390.00 to $405.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Keefe, Bruyette & Woods upped their price target on LPL Financial from $390.00 to $405.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. The Goldman Sachs Group upped their price target on LPL Financial from $271.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, JMP Securities reiterated a “market outperform” rating and issued a $435.00 price target on shares of LPL Financial in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $379.17.

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.