Vident Advisory LLC Raises Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Vident Advisory LLC boosted its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 58.0% in the 4th quarter, HoldingsChannel reports. The fund owned 3,526 shares of the financial services provider’s stock after buying an additional 1,294 shares during the quarter. Vident Advisory LLC’s holdings in LPL Financial were worth $1,151,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of LPLA. JPMorgan Chase & Co. boosted its holdings in LPL Financial by 27.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider’s stock valued at $296,635,000 after acquiring an additional 276,166 shares during the period. Merit Financial Group LLC raised its position in LPL Financial by 4.6% during the 4th quarter. Merit Financial Group LLC now owns 1,132 shares of the financial services provider’s stock valued at $370,000 after purchasing an additional 50 shares during the last quarter. Arkadios Wealth Advisors bought a new position in LPL Financial during the 4th quarter valued at approximately $277,000. Koshinski Asset Management Inc. bought a new position in LPL Financial during the 4th quarter valued at approximately $253,000. Finally, Nisa Investment Advisors LLC raised its position in LPL Financial by 168.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,178 shares of the financial services provider’s stock valued at $711,000 after purchasing an additional 1,368 shares during the last quarter. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at LPL Financial

In related news, Director Marc Eliot Cohen sold 1,100 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $365.85, for a total transaction of $402,435.00. Following the completion of the transaction, the director now owns 4,075 shares of the company’s stock, valued at $1,490,838.75. This trade represents a 21.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Matthew J. Audette sold 4,588 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $360.07, for a total value of $1,652,001.16. Following the transaction, the chief financial officer now directly owns 16,538 shares of the company’s stock, valued at approximately $5,954,837.66. This trade represents a 21.72% decrease in their position. The disclosure for this sale can be found here. 0.70% of the stock is owned by corporate insiders.

LPL Financial Stock Down 1.3%

Shares of NASDAQ:LPLA opened at $372.50 on Friday. LPL Financial Holdings Inc. has a 52-week low of $187.19 and a 52-week high of $390.23. The firm has a market capitalization of $29.79 billion, a P/E ratio of 26.53, a P/E/G ratio of 0.94 and a beta of 0.65. The stock has a 50 day moving average price of $331.91 and a 200-day moving average price of $336.62. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16.

LPL Financial (NASDAQ:LPLA) last announced its earnings results on Thursday, May 8th. The financial services provider reported $5.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.54 by $0.61. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. The firm had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.63 billion. During the same quarter in the prior year, the company earned $3.83 EPS. The business’s revenue was up 4.5% compared to the same quarter last year. As a group, equities research analysts anticipate that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 30th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date is Friday, May 30th. LPL Financial’s dividend payout ratio (DPR) is presently 8.30%.

Analyst Ratings Changes

A number of research firms have commented on LPLA. JPMorgan Chase & Co. upped their price target on LPL Financial from $397.00 to $405.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Citigroup lowered their price target on LPL Financial from $415.00 to $400.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. JMP Securities upped their price target on LPL Financial from $420.00 to $440.00 and gave the company a “market outperform” rating in a research report on Friday, May 9th. Morgan Stanley upped their price target on LPL Financial from $330.00 to $450.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Keefe, Bruyette & Woods upped their price target on LPL Financial from $390.00 to $405.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating and twelve have given a buy rating to the stock. According to data from MarketBeat, LPL Financial presently has a consensus rating of “Moderate Buy” and an average price target of $377.50.

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.