Strategic Global Advisors LLC Raises Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Strategic Global Advisors LLC grew its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 4.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,655 shares of the financial services provider’s stock after purchasing an additional 1,054 shares during the period. LPL Financial comprises about 1.6% of Strategic Global Advisors LLC’s investment portfolio, making the stock its 18th biggest holding. Strategic Global Advisors LLC’s holdings in LPL Financial were worth $8,703,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of LPLA. Graney & King LLC bought a new stake in LPL Financial in the 4th quarter worth approximately $30,000. Itau Unibanco Holding S.A. purchased a new position in shares of LPL Financial in the 4th quarter worth $42,000. Jones Financial Companies Lllp boosted its stake in shares of LPL Financial by 45.3% in the 4th 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. Atala Financial Inc bought a new stake in shares of LPL Financial in the fourth quarter worth $59,000. Finally, Compass Financial Services Inc purchased a new stake in LPL Financial during the fourth quarter valued at $65,000. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Barclays raised their target price on LPL Financial from $365.00 to $400.00 and gave the stock an “overweight” rating in a research report on Monday, May 12th. Citigroup cut their target price on shares of LPL Financial from $415.00 to $400.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Morgan Stanley increased their price target on shares of LPL Financial from $379.00 to $413.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Keefe, Bruyette & Woods boosted their price objective on shares of LPL Financial from $390.00 to $405.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Finally, UBS Group upped their price objective on LPL Financial from $390.00 to $420.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $374.42.

LPL Financial Stock Up 0.8%

LPLA opened at $384.61 on Friday. The stock has a market cap of $30.76 billion, a price-to-earnings ratio of 27.39, a price-to-earnings-growth ratio of 0.94 and a beta of 0.65. 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 firm’s fifty day moving average is $326.05 and its 200 day moving average is $333.50. LPL Financial Holdings Inc. has a fifty-two week low of $187.19 and a fifty-two week high of $390.23.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings results on Thursday, May 8th. The financial services provider reported $5.15 EPS for the quarter, beating analysts’ consensus estimates of $4.54 by $0.61. The business had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.63 billion. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. The business’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period last year, the firm earned $3.83 earnings per share. On average, sell-side analysts forecast that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 30th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.20 dividend on an annualized basis and a yield of 0.31%. LPL Financial’s dividend payout ratio is presently 8.30%.

Insiders Place Their Bets

In related 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 completion of the transaction, the director now directly owns 4,075 shares of the company’s stock, valued at approximately $1,490,838.75. This trade represents a 21.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Matthew J. Audette sold 4,588 shares of the business’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 sale, the chief financial officer now owns 16,538 shares in the company, valued at approximately $5,954,837.66. The trade was a 21.72% decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.

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.