GAMMA Investing LLC Invests $30,000 in LPL Financial Holdings Inc. (NASDAQ:LPLA)

GAMMA Investing LLC bought a new stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 125 shares of the financial services provider’s stock, valued at approximately $30,000.

A number of other institutional investors have also added to or reduced their stakes in LPLA. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of LPL Financial by 3.9% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,145,780 shares of the financial services provider’s stock worth $509,945,000 after acquiring an additional 79,869 shares during the period. Massachusetts Financial Services Co. MA lifted its position in LPL Financial by 1,732.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 568,292 shares of the financial services provider’s stock worth $135,055,000 after purchasing an additional 537,272 shares during the period. American Century Companies Inc. boosted its stake in LPL Financial by 6.6% during the third quarter. American Century Companies Inc. now owns 567,856 shares of the financial services provider’s stock worth $134,951,000 after buying an additional 35,088 shares in the last quarter. Northern Trust Corp increased its holdings in LPL Financial by 6.7% in the 3rd quarter. Northern Trust Corp now owns 498,405 shares of the financial services provider’s stock valued at $118,446,000 after buying an additional 31,402 shares during the period. Finally, Canada Pension Plan Investment Board increased its holdings in LPL Financial by 358.2% in the 3rd quarter. Canada Pension Plan Investment Board now owns 456,990 shares of the financial services provider’s stock valued at $108,604,000 after buying an additional 357,245 shares during the period. 95.66% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LPLA has been the topic of several recent research reports. Raymond James initiated coverage on shares of LPL Financial in a research report on Thursday, April 4th. They set an “underperform” rating on the stock. Morgan Stanley raised LPL Financial from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $254.00 to $315.00 in a report on Tuesday, April 9th. JPMorgan Chase & Co. raised their target price on LPL Financial from $254.00 to $260.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 2nd. UBS Group upped their price target on LPL Financial from $260.00 to $267.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. Finally, Barclays increased their price objective on LPL Financial from $302.00 to $312.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $276.20.

Insider Activity

In other news, CEO Dan H. Arnold sold 34,807 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $266.54, for a total transaction of $9,277,457.78. Following the transaction, the chief executive officer now owns 141,810 shares of the company’s stock, valued at $37,798,037.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other LPL Financial news, Director Matthew Enyedi sold 1,381 shares of LPL Financial stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $256.94, for a total transaction of $354,834.14. Following the completion of the sale, the director now owns 8,634 shares of the company’s stock, valued at approximately $2,218,419.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Dan H. Arnold sold 34,807 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $266.54, for a total transaction of $9,277,457.78. Following the sale, the chief executive officer now owns 141,810 shares of the company’s stock, valued at approximately $37,798,037.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 60,151 shares of company stock valued at $15,911,088. Company insiders own 1.30% of the company’s stock.

LPL Financial Stock Performance

Shares of NASDAQ:LPLA opened at $270.79 on Monday. The business has a fifty day moving average of $264.90 and a 200-day moving average of $243.26. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.77 and a current ratio of 1.77. LPL Financial Holdings Inc. has a twelve month low of $179.00 and a twelve month high of $276.12. The firm has a market cap of $20.23 billion, a PE ratio of 20.45, a price-to-earnings-growth ratio of 1.08 and a beta of 0.83.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data on Thursday, February 1st. The financial services provider reported $3.51 EPS for the quarter, topping analysts’ consensus estimates of $3.33 by $0.18. LPL Financial had a net margin of 9.71% and a return on equity of 56.36%. The firm had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same quarter in the prior year, the firm earned $4.21 EPS. The company’s revenue was up 13.3% on a year-over-year basis. On average, equities research analysts predict that LPL Financial Holdings Inc. will post 15.82 EPS for the current fiscal year.

LPL Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st will be given a $0.30 dividend. The ex-dividend date is Monday, May 20th. This represents a $1.20 dividend on an annualized basis and a yield of 0.44%. LPL Financial’s payout ratio is 9.06%.

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.