Pinnbrook Capital Management LP Acquires Shares of 15,285 LPL Financial Holdings Inc. (NASDAQ:LPLA)

Pinnbrook Capital Management LP bought a new position in LPL Financial Holdings Inc. (NASDAQ:LPLA) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 15,285 shares of the financial services provider’s stock, valued at approximately $4,991,000.

Several other institutional investors have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new position in shares of LPL Financial during the third quarter valued at about $31,000. Brooklyn Investment Group bought a new position in LPL Financial during the 3rd quarter valued at approximately $43,000. Compass Financial Services Inc purchased a new stake in LPL Financial in the 4th quarter worth approximately $65,000. R Squared Ltd bought a new stake in shares of LPL Financial in the 4th quarter worth approximately $78,000. Finally, Ameliora Wealth Management Ltd. purchased a new position in shares of LPL Financial during the fourth quarter valued at approximately $108,000. Hedge funds and other institutional investors own 95.66% of the company’s stock.

LPL Financial Stock Up 0.4 %

LPLA opened at $373.98 on Tuesday. LPL Financial Holdings Inc. has a 1-year low of $187.19 and a 1-year high of $376.11. The firm’s 50 day simple moving average is $344.99 and its two-hundred day simple moving average is $285.83. The company has a market capitalization of $28.00 billion, a PE ratio of 26.64, a PEG ratio of 0.93 and a beta of 0.87. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data on Thursday, January 30th. The financial services provider reported $4.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.01 by $0.24. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. As a group, equities analysts forecast that LPL Financial Holdings Inc. will post 19.14 EPS for the current year.

LPL Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th will be issued a dividend of $0.30 per share. The ex-dividend date is Tuesday, March 11th. This represents a $1.20 dividend on an annualized basis and a yield of 0.32%. LPL Financial’s dividend payout ratio is presently 8.55%.

Analyst Ratings Changes

LPLA has been the subject of a number of research analyst reports. Barclays raised their price target on LPL Financial from $389.00 to $414.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Keefe, Bruyette & Woods increased their price target on shares of LPL Financial from $390.00 to $405.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Morgan Stanley raised their price objective on shares of LPL Financial from $379.00 to $413.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. JPMorgan Chase & Co. lifted their price objective on LPL Financial from $397.00 to $405.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, Citigroup raised their target price on LPL Financial from $310.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, January 10th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $379.17.

Insider Activity at LPL Financial

In related news, CFO Matthew J. Audette sold 28,777 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $365.14, for a total value of $10,507,633.78. Following the sale, the chief financial officer now owns 13,663 shares in the company, valued at approximately $4,988,907.82. The trade was a 67.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Aneri Jambusaria sold 305 shares of the stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $331.94, for a total transaction of $101,241.70. Following the transaction, the director now owns 3,920 shares of the company’s stock, valued at $1,301,204.80. This trade represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

LPL Financial Company 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, fixed income, alternative investments, retirement and 529 education savings plans, and insurance.