Prelude Capital Management LLC Makes New $290,000 Investment in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Prelude Capital Management LLC bought a new stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,435 shares of the financial services provider’s stock, valued at approximately $290,000.

A number of other institutional investors have also modified their holdings of the business. Future Fund LLC grew its position in LPL Financial by 3.6% in the 4th quarter. Future Fund LLC now owns 1,449 shares of the financial services provider’s stock valued at $313,000 after buying an additional 51 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in shares of LPL Financial by 39.2% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 213 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 60 shares in the last quarter. MONECO Advisors LLC boosted its position in shares of LPL Financial by 3.6% during the 1st quarter. MONECO Advisors LLC now owns 1,827 shares of the financial services provider’s stock worth $370,000 after purchasing an additional 63 shares in the last quarter. IFP Advisors Inc boosted its position in shares of LPL Financial by 4.6% in the 1st quarter. IFP Advisors Inc now owns 1,477 shares of the financial services provider’s stock worth $103,000 after buying an additional 65 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its position in shares of LPL Financial by 0.5% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 14,628 shares of the financial services provider’s stock worth $2,961,000 after buying an additional 67 shares in the last quarter. 92.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LPLA has been the topic of several recent research reports. Morgan Stanley boosted their price objective on shares of LPL Financial from $238.00 to $243.00 and gave the stock an “equal weight” rating in a research report on Monday, July 31st. Jefferies Financial Group boosted their price objective on shares of LPL Financial from $246.00 to $253.00 in a research report on Monday, July 10th. JMP Securities reiterated a “market outperform” rating and issued a $290.00 price objective on shares of LPL Financial in a research report on Friday, August 18th. Citigroup boosted their target price on shares of LPL Financial from $245.00 to $275.00 and gave the company a “buy” rating in a research note on Friday, July 28th. Finally, Bank of America boosted their target price on shares of LPL Financial from $232.00 to $233.00 in a research note on Sunday, July 30th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, LPL Financial currently has an average rating of “Hold” and a consensus price target of $248.60.

Insider Activity

In related news, Director Richard Steinmeier sold 10,300 shares of the stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $242.68, for a total transaction of $2,499,604.00. Following the completion of the sale, the director now owns 16,914 shares of the company’s stock, valued at approximately $4,104,689.52. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Matthew Enyedi sold 3,265 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $230.86, for a total transaction of $753,757.90. Following the completion of the sale, the director now owns 9,978 shares of the company’s stock, valued at approximately $2,303,521.08. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Richard Steinmeier sold 10,300 shares of the stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $242.68, for a total transaction of $2,499,604.00. Following the sale, the director now directly owns 16,914 shares of the company’s stock, valued at approximately $4,104,689.52. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

LPL Financial Trading Down 0.2 %

NASDAQ LPLA opened at $246.50 on Tuesday. LPL Financial Holdings Inc. has a 12 month low of $179.00 and a 12 month high of $271.56. The company has a 50-day moving average of $231.85 and a 200-day moving average of $214.42. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.74 and a quick ratio of 1.74. The company has a market cap of $18.81 billion, a P/E ratio of 16.77, a P/E/G ratio of 0.79 and a beta of 0.92.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Thursday, July 27th. The financial services provider reported $3.94 EPS for the quarter, beating analysts’ consensus estimates of $3.87 by $0.07. LPL Financial had a net margin of 12.53% and a return on equity of 59.52%. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter in the prior year, the company posted $2.24 EPS. The company’s quarterly revenue was up 21.1% compared to the same quarter last year. As a group, equities analysts predict that LPL Financial Holdings Inc. will post 16.33 earnings per share for the current year.

LPL Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Friday, August 11th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date was Thursday, August 10th. LPL Financial’s dividend payout ratio is currently 8.16%.

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, retirement and education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and auction rate notes.