Avanza Fonder AB Purchases 2,436 Shares of LPL Financial Holdings Inc. $LPLA

Avanza Fonder AB raised its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 43.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,043 shares of the financial services provider’s stock after acquiring an additional 2,436 shares during the period. Avanza Fonder AB’s holdings in LPL Financial were worth $2,873,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. NewEdge Advisors LLC raised its stake in LPL Financial by 42.7% during the first quarter. NewEdge Advisors LLC now owns 3,525 shares of the financial services provider’s stock valued at $1,153,000 after purchasing an additional 1,055 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in LPL Financial by 0.5% during the first quarter. Goldman Sachs Group Inc. now owns 209,126 shares of the financial services provider’s stock valued at $68,414,000 after purchasing an additional 1,089 shares during the last quarter. Woodline Partners LP purchased a new position in shares of LPL Financial in the 1st quarter worth $1,636,000. Focus Partners Wealth increased its holdings in shares of LPL Financial by 12.2% in the 1st quarter. Focus Partners Wealth now owns 4,360 shares of the financial services provider’s stock worth $1,426,000 after buying an additional 473 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new stake in shares of LPL Financial in the 1st quarter worth about $121,000. 95.66% of the stock is currently owned by institutional investors.

LPL Financial Stock Performance

Shares of NASDAQ:LPLA opened at $300.17 on Wednesday. The company has a current ratio of 2.45, a quick ratio of 2.45 and a debt-to-equity ratio of 1.36. LPL Financial Holdings Inc. has a 12 month low of $262.83 and a 12 month high of $403.58. The company has a market capitalization of $24.07 billion, a price-to-earnings ratio of 27.26, a PEG ratio of 0.66 and a beta of 0.59. The firm’s 50-day moving average is $335.17 and its 200 day moving average is $346.23.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data on Thursday, January 29th. The financial services provider reported $5.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.82 by $0.41. LPL Financial had a net margin of 5.08% and a return on equity of 34.19%. The business had revenue of $4.93 billion during the quarter, compared to the consensus estimate of $4.90 billion. During the same quarter last year, the firm earned $4.25 earnings per share. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. Research analysts predict that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 24th. Investors of record on Tuesday, March 10th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Tuesday, March 10th. LPL Financial’s dividend payout ratio (DPR) is currently 10.90%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Morgan Stanley lowered their price target on shares of LPL Financial from $462.00 to $447.00 and set an “overweight” rating for the company in a report on Monday, December 22nd. Wolfe Research set a $478.00 price objective on LPL Financial in a research note on Friday, January 30th. TD Cowen decreased their price objective on LPL Financial from $399.00 to $378.00 and set a “hold” rating on the stock in a research report on Friday, January 30th. Jefferies Financial Group raised their price objective on LPL Financial from $426.00 to $440.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Finally, Citigroup reiterated a “market outperform” rating on shares of LPL Financial in a report on Tuesday, February 3rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $428.71.

Insider Buying and Selling

In other LPL Financial news, CFO Matthew J. Audette sold 1,581 shares of the stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $320.50, for a total value of $506,710.50. Following the sale, the chief financial officer owned 21,382 shares in the company, valued at $6,852,931. This trade represents a 6.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Marc Eliot Cohen sold 1,088 shares of the stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $309.72, for a total value of $336,975.36. Following the completion of the sale, the director owned 4,400 shares in the company, valued at approximately $1,362,768. The trade was a 19.83% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 6,990 shares of company stock valued at $2,201,837. Insiders own 0.70% of the company’s stock.

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.