Proficio Capital Partners LLC Invests $27.52 Million in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Proficio Capital Partners LLC bought a new position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 84,278 shares of the financial services provider’s stock, valued at approximately $27,518,000. Proficio Capital Partners LLC owned approximately 0.11% of LPL Financial at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Keefe, Bruyette & Woods upped their price target on shares of LPL Financial from $390.00 to $405.00 and gave the company an “outperform” rating in a report on Friday, January 31st. JPMorgan Chase & Co. increased their price target on shares of LPL Financial from $397.00 to $405.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Morgan Stanley upped their price objective on shares of LPL Financial from $379.00 to $413.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Barclays upped their price objective 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. Finally, Citigroup increased their price target on shares of LPL Financial from $310.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, January 10th. One analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $379.17.

LPL Financial Price Performance

Shares of NASDAQ:LPLA opened at $371.74 on Friday. The firm has a 50 day moving average of $351.92 and a 200-day moving average of $294.33. The stock has a market capitalization of $27.72 billion, a PE ratio of 26.48, a PEG ratio of 0.94 and a beta of 0.87. LPL Financial Holdings Inc. has a 12 month low of $187.19 and a 12 month high of $384.04. 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 posted 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 net margin of 8.55% and a return on equity of 49.41%. On average, equities research 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 will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.32%. The ex-dividend date is Tuesday, March 11th. LPL Financial’s dividend payout ratio is presently 8.55%.

Insider Buying and Selling

In other LPL Financial news, Director Aneri Jambusaria sold 305 shares of the company’s 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 in the company, valued at approximately $1,301,204.80. This represents a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Matthew J. Audette sold 28,777 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $365.14, for a total transaction of $10,507,633.78. Following the completion of the sale, the chief financial officer now owns 13,663 shares of the company’s stock, valued at approximately $4,988,907.82. This represents a 67.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,770 shares of company stock valued at $12,663,312 over the last ninety days. 1.30% of the stock is owned by corporate insiders.

LPL Financial 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.