LPL Financial Holdings Inc. $LPLA Shares Bought by Holocene Advisors LP

Holocene Advisors LP raised its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 11.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 298,873 shares of the financial services provider’s stock after purchasing an additional 30,425 shares during the period. Holocene Advisors LP owned 0.37% of LPL Financial worth $99,432,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of LPLA. Osterweis Capital Management Inc. acquired a new position in shares of LPL Financial during the 2nd quarter worth about $26,000. SBI Securities Co. Ltd. boosted its holdings in LPL Financial by 116.2% in the 2nd quarter. SBI Securities Co. Ltd. now owns 80 shares of the financial services provider’s stock worth $30,000 after buying an additional 43 shares during the last quarter. Chung Wu Investment Group LLC acquired a new stake in LPL Financial in the 3rd quarter worth about $27,000. SJS Investment Consulting Inc. increased its stake in LPL Financial by 912.5% during the 3rd quarter. SJS Investment Consulting Inc. now owns 81 shares of the financial services provider’s stock worth $27,000 after buying an additional 73 shares in the last quarter. Finally, Eastern Bank raised its holdings in shares of LPL Financial by 72.0% during the third quarter. Eastern Bank now owns 86 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 36 shares during the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

Insider Transactions at LPL Financial

In other news, Director Marc Eliot Cohen sold 2,212 shares of the business’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $308.75, for a total transaction of $682,955.00. Following the transaction, the director owned 5,488 shares of the company’s stock, valued at approximately $1,694,420. The trade was a 28.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Matthew Enyedi sold 2,109 shares of the company’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $320.15, for a total transaction of $675,196.35. Following the completion of the sale, the director directly owned 14,121 shares of the company’s stock, valued at $4,520,838.15. This represents a 12.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 6,990 shares of company stock worth $2,201,837 in the last quarter. Company insiders own 1.30% of the company’s stock.

LPL Financial Trading Down 0.2%

Shares of LPL Financial stock opened at $289.03 on Monday. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.45 and a quick ratio of 2.45. The stock’s 50 day simple moving average is $345.43 and its 200-day simple moving average is $349.48. The stock has a market cap of $23.15 billion, a P/E ratio of 26.25, a P/E/G ratio of 0.64 and a beta of 0.59. LPL Financial Holdings Inc. has a 1-year low of $262.83 and a 1-year high of $403.58.

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

LPL Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 24th. Stockholders of record on Tuesday, March 10th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Tuesday, March 10th. LPL Financial’s payout ratio is currently 10.90%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their target price on LPL Financial from $433.00 to $439.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. UBS Group set a $500.00 price target on LPL Financial in a research report on Tuesday, February 3rd. Wolfe Research set a $478.00 price objective on LPL Financial in a research note on Friday, January 30th. Morgan Stanley decreased their price objective on LPL Financial from $462.00 to $447.00 and set an “overweight” rating on the stock in a report on Monday, December 22nd. Finally, TD Cowen lowered their target price on shares of LPL Financial from $399.00 to $378.00 and set a “hold” rating on the stock in a research note on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $428.71.

About LPL Financial

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.