Graney & King LLC Takes Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Graney & King LLC bought a new position in LPL Financial Holdings Inc. (NASDAQ:LPLA) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 93 shares of the financial services provider’s stock, valued at approximately $30,000.

Several other large investors also recently modified their holdings of LPLA. Brooklyn Investment Group bought a new stake in shares of LPL Financial in the 3rd quarter worth approximately $43,000. Jones Financial Companies Lllp boosted its holdings in LPL Financial by 45.3% in the fourth quarter. Jones Financial Companies Lllp now owns 138 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 43 shares in the last quarter. Atala Financial Inc purchased a new position in LPL Financial during the 4th quarter valued at $59,000. Compass Financial Services Inc bought a new position in LPL Financial in the 4th quarter worth $65,000. Finally, R Squared Ltd purchased a new stake in shares of LPL Financial in the 4th quarter worth about $78,000. 95.66% of the stock is owned by institutional investors.

LPL Financial Stock Performance

LPLA stock opened at $339.15 on Thursday. The stock’s 50 day simple moving average is $352.42 and its 200 day simple moving average is $310.06. 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 market capitalization of $25.33 billion, a PE ratio of 24.16, a price-to-earnings-growth ratio of 0.94 and a beta of 0.82.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share (EPS) for the quarter, beating 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%. As a group, research analysts forecast that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th were paid a $0.30 dividend. The ex-dividend date was Tuesday, March 11th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.35%. LPL Financial’s dividend payout ratio is presently 8.55%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on LPLA. JPMorgan Chase & Co. boosted their price target on shares of LPL Financial from $397.00 to $405.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. TD Cowen raised LPL Financial from a “hold” rating to a “buy” rating and increased their target price for the stock from $277.00 to $413.00 in a research report on Thursday, December 19th. Wells Fargo & Company lifted their price target on LPL Financial from $390.00 to $405.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. StockNews.com downgraded LPL Financial from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, Keefe, Bruyette & Woods boosted their target price 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. Two research analysts have rated the stock with a sell rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $379.17.

Insider Activity

In related news, Director Marc Eliot Cohen sold 1,100 shares of LPL Financial stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $365.85, for a total value of $402,435.00. Following the completion of the sale, the director now owns 4,075 shares of the company’s stock, valued at $1,490,838.75. The trade was a 21.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Matthew J. Audette sold 4,588 shares of the company’s stock in a transaction 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 sale, the chief financial officer now 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. Insiders sold 34,465 shares of company stock valued at $12,562,070 over the last three months. Insiders own 1.30% of the company’s stock.

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.