Twinbeech Capital LP Purchases 3,365 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Twinbeech Capital LP lifted its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 26.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,217 shares of the financial services provider’s stock after purchasing an additional 3,365 shares during the quarter. Twinbeech Capital LP’s holdings in LPL Financial were worth $5,295,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Graney & King LLC bought a new position in LPL Financial in the fourth quarter valued at $30,000. Itau Unibanco Holding S.A. bought a new position in LPL Financial in the fourth quarter valued at $42,000. Jones Financial Companies Lllp increased its stake in LPL Financial by 45.3% in the fourth quarter. Jones Financial Companies Lllp now owns 138 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 43 shares during the last quarter. Atala Financial Inc bought a new position in LPL Financial in the fourth quarter valued at $59,000. Finally, Compass Financial Services Inc bought a new position in LPL Financial in the fourth quarter valued at $65,000. Institutional investors own 95.66% of the company’s stock.

LPL Financial Stock Down 0.3%

Shares of NASDAQ:LPLA opened at $384.20 on Wednesday. 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 stock has a market capitalization of $30.73 billion, a P/E ratio of 27.36, a price-to-earnings-growth ratio of 0.94 and a beta of 0.65. LPL Financial Holdings Inc. has a 12-month low of $187.19 and a 12-month high of $390.23. The stock’s 50-day moving average price is $328.88 and its 200-day moving average price is $334.94.

LPL Financial (NASDAQ:LPLA) last posted its earnings results on Thursday, May 8th. The financial services provider reported $5.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.54 by $0.61. The company 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%. LPL Financial’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, equities analysts anticipate that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on LPLA shares. JPMorgan Chase & Co. increased their target price on LPL Financial from $397.00 to $405.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. StockNews.com cut LPL Financial from a “hold” rating to a “sell” rating in a research note on Wednesday. Citigroup reduced their target price on LPL Financial from $415.00 to $400.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Morgan Stanley raised their price objective on LPL Financial from $379.00 to $413.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Finally, JMP Securities raised their price objective on LPL Financial from $420.00 to $440.00 and gave the company a “market outperform” rating in a research note on Friday, May 9th. One research analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $374.42.

Insider Buying and Selling

In related news, CFO Matthew J. Audette sold 4,588 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $360.07, for a total value of $1,652,001.16. Following the sale, the chief financial officer now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Marc Eliot Cohen sold 1,100 shares of LPL Financial stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $365.85, for a total value of $402,435.00. Following the sale, the director now directly owns 4,075 shares in the company, valued at approximately $1,490,838.75. The trade was a 21.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.70% of the stock is owned by insiders.

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.