LPL Financial Holdings Inc. (NASDAQ:LPLA) Stock Position Lifted by Gabelli Funds LLC

Gabelli Funds LLC grew its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 51.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,293 shares of the financial services provider’s stock after acquiring an additional 1,793 shares during the quarter. Gabelli Funds LLC’s holdings in LPL Financial were worth $1,728,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. SkyView Investment Advisors LLC raised its holdings in shares of LPL Financial by 2.8% during the third quarter. SkyView Investment Advisors LLC now owns 4,835 shares of the financial services provider’s stock worth $1,125,000 after purchasing an additional 131 shares during the period. Anchor Investment Management LLC raised its stake in LPL Financial by 15.6% during the third quarter. Anchor Investment Management LLC now owns 9,669 shares of the financial services provider’s stock worth $2,249,000 after acquiring an additional 1,304 shares during the period. Wilmington Savings Fund Society FSB bought a new position in LPL Financial in the third quarter worth about $182,000. Tidal Investments LLC boosted its stake in LPL Financial by 98.9% in the third quarter. Tidal Investments LLC now owns 7,662 shares of the financial services provider’s stock valued at $1,782,000 after acquiring an additional 3,809 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in shares of LPL Financial by 15.7% during the third quarter. Principal Financial Group Inc. now owns 25,418 shares of the financial services provider’s stock valued at $5,913,000 after purchasing an additional 3,444 shares during the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other LPL Financial news, CFO Matthew J. Audette sold 4,588 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was 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 owns 16,538 shares in the company, valued at approximately $5,954,837.66. The trade was a 21.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 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 approximately $1,490,838.75. The trade was a 21.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,465 shares of company stock worth $12,562,070. Insiders own 1.30% of the company’s stock.

LPL Financial Stock Down 0.0 %

LPLA opened at $306.02 on Friday. The stock’s fifty day moving average is $335.31 and its 200-day moving average is $320.55. LPL Financial Holdings Inc. has a one year low of $187.19 and a one year high of $384.04. The company has a market capitalization of $24.28 billion, a PE ratio of 21.80, a P/E/G ratio of 0.94 and a beta of 0.64. 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 issued its quarterly earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share for the quarter, beating 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 analysts predict that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th were issued a $0.30 dividend. The ex-dividend date was Tuesday, March 11th. This represents a $1.20 annualized dividend and a dividend yield of 0.39%. LPL Financial’s dividend payout ratio is currently 8.55%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on LPLA. StockNews.com lowered LPL Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, March 26th. Barclays reduced their price target on shares of LPL Financial from $414.00 to $365.00 and set an “overweight” rating for the company in a report on Monday, April 7th. Morgan Stanley increased 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. boosted their target price on shares of LPL Financial from $397.00 to $405.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, Wells Fargo & Company dropped their price target on shares of LPL Financial from $405.00 to $342.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. One research analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $369.83.

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.