Senator Investment Group LP bought a new position in LPL Financial Holdings Inc. (NASDAQ:LPLA – Free Report) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 100,000 shares of the financial services provider’s stock, valued at approximately $35,717,000. LPL Financial accounts for approximately 1.4% of Senator Investment Group LP’s portfolio, making the stock its 27th largest holding.
A number of other large investors have also added to or reduced their stakes in LPLA. NewEdge Advisors LLC raised its holdings in LPL Financial by 42.7% in the first quarter. NewEdge Advisors LLC now owns 3,525 shares of the financial services provider’s stock worth $1,153,000 after purchasing an additional 1,055 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in LPL Financial by 0.5% in the first quarter. Goldman Sachs Group Inc. now owns 209,126 shares of the financial services provider’s stock worth $68,414,000 after purchasing an additional 1,089 shares in the last quarter. Woodline Partners LP bought a new position in LPL Financial in the first quarter worth about $1,636,000. Focus Partners Wealth raised its holdings in LPL Financial by 12.2% in the first quarter. Focus Partners Wealth now owns 4,360 shares of the financial services provider’s stock worth $1,426,000 after purchasing an additional 473 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new position in LPL Financial in the first quarter worth about $121,000. 95.66% of the stock is currently owned by institutional investors.
LPL Financial Price Performance
Shares of NASDAQ:LPLA opened at $295.32 on Tuesday. LPL Financial Holdings Inc. has a twelve month low of $260.15 and a twelve month high of $403.58. The company’s 50 day moving average is $301.85 and its 200 day moving average is $329.22. The company has a current ratio of 2.56, a quick ratio of 2.56 and a debt-to-equity ratio of 1.26. The company has a market cap of $23.62 billion, a PE ratio of 26.37, a price-to-earnings-growth ratio of 0.61 and a beta of 0.50.
LPL Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.4%. The ex-dividend date was Thursday, May 21st. LPL Financial’s dividend payout ratio is currently 10.71%.
Insider Buying and Selling
In other LPL Financial news, CFO Matthew J. Audette sold 1,110 shares of the company’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $330.01, for a total value of $366,311.10. Following the sale, the chief financial officer owned 19,803 shares in the company, valued at approximately $6,535,188.03. This represents a 5.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.60% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms have recently issued reports on LPLA. TD Cowen cut their price objective on shares of LPL Financial from $330.00 to $326.00 and set a “hold” rating on the stock in a report on Friday, May 1st. UBS Group upped their price objective on shares of LPL Financial from $380.00 to $395.00 and gave the company a “buy” rating in a report on Friday, May 1st. JPMorgan Chase & Co. cut their price objective on shares of LPL Financial from $396.00 to $390.00 and set an “overweight” rating on the stock in a report on Friday, May 1st. Barclays upped their price objective on shares of LPL Financial from $369.00 to $412.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Finally, Citizens Jmp restated a “market outperform” rating and set a $500.00 price objective on shares of LPL Financial in a report on Monday, April 6th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $398.86.
Check Out Our Latest Research Report on LPL Financial
LPL Financial Company Profile
LPL Financial (NASDAQ: LPLA) is a U.S.-focused financial services firm that provides brokerage, custodial and advisory platforms to independent financial advisors, registered investment advisers and institutions. Operating primarily as an independent broker-dealer and custodian, the company supports a network of advisors with the operational, compliance and clearing infrastructure needed to manage client accounts and deliver investment advice outside of traditional wirehouse models.
The firm’s product and service offerings include trade execution and clearing, custody services, retirement plan services, model portfolio and advisory platforms, wealth management technology, investment research and product access across equities, fixed income, mutual funds, exchange-traded funds and insurance and annuity solutions.
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