MIG Capital LLC Purchases New Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

MIG Capital LLC acquired a new position in LPL Financial Holdings Inc. (NASDAQ:LPLA) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 1,026 shares of the financial services provider’s stock, valued at approximately $335,000.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new stake in LPL Financial in the fourth quarter valued at $305,747,000. Raymond James Financial Inc. purchased a new stake in shares of LPL Financial in the 4th quarter worth about $295,982,000. Boston Partners lifted its position in shares of LPL Financial by 26.0% in the 4th quarter. Boston Partners now owns 3,905,541 shares of the financial services provider’s stock worth $1,278,454,000 after purchasing an additional 805,637 shares during the period. Artisan Partners Limited Partnership purchased a new position in shares of LPL Financial during the fourth quarter valued at about $136,440,000. Finally, Massachusetts Financial Services Co. MA raised its stake in LPL Financial by 57.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,115,708 shares of the financial services provider’s stock worth $364,290,000 after buying an additional 405,341 shares in the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other LPL Financial news, Director Marc Eliot Cohen sold 1,100 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $365.85, for a total value of $402,435.00. Following the transaction, the director now directly owns 4,075 shares of the company’s stock, valued at approximately $1,490,838.75. This trade represents a 21.26 % 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, CFO Matthew J. Audette sold 4,588 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $360.07, for a total transaction of $1,652,001.16. Following the sale, the chief financial officer now directly owns 16,538 shares of the company’s stock, valued at $5,954,837.66. The trade was a 21.72 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,465 shares of company stock valued at $12,562,070. Company insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on LPLA. 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. UBS Group upped their price target on LPL Financial from $390.00 to $420.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Citigroup lowered their price objective on LPL Financial from $415.00 to $400.00 and set a “buy” rating for the company in a research report on Wednesday. Morgan Stanley boosted their target price on shares of LPL Financial from $379.00 to $413.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Finally, Barclays increased their price target on shares of LPL Financial from $389.00 to $414.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $380.42.

LPL Financial Stock Down 9.4 %

LPL Financial stock opened at $283.31 on Friday. The firm has a market cap of $21.13 billion, a price-to-earnings ratio of 20.18, a PEG ratio of 0.94 and a beta of 0.64. 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 Holdings Inc. has a 12 month low of $187.19 and a 12 month high of $384.04. The stock has a fifty day simple moving average of $348.34 and a two-hundred day simple moving average of $315.70.

LPL Financial (NASDAQ:LPLA) last issued its earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share for the quarter, topping 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%. Equities 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 announced a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.42%. The ex-dividend date was Tuesday, March 11th. LPL Financial’s dividend payout ratio is currently 8.55%.

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.