LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Bought by Thoroughbred Financial Services LLC

Thoroughbred Financial Services LLC increased its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 10.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,504 shares of the financial services provider’s stock after acquiring an additional 145 shares during the period. Thoroughbred Financial Services LLC’s holdings in LPL Financial were worth $491,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. ExodusPoint Capital Management LP raised its holdings in shares of LPL Financial by 109.9% in the 4th quarter. ExodusPoint Capital Management LP now owns 135,475 shares of the financial services provider’s stock worth $44,234,000 after purchasing an additional 70,940 shares during the period. Spahn Wealth & Retirement LLC purchased a new position in LPL Financial in the fourth quarter valued at approximately $457,000. Cinctive Capital Management LP lifted its position in LPL Financial by 109.1% during the fourth quarter. Cinctive Capital Management LP now owns 68,701 shares of the financial services provider’s stock valued at $22,432,000 after buying an additional 35,843 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in LPL Financial by 57.1% during 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 during the period. Finally, Geode Capital Management LLC increased its position in shares of LPL Financial by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 1,459,942 shares of the financial services provider’s stock worth $475,946,000 after acquiring an additional 23,111 shares in the last quarter. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LPLA has been the topic of several recent research reports. TD Cowen upgraded shares of LPL Financial from a “hold” rating to a “buy” rating and lifted their target price for the company from $277.00 to $413.00 in a report on Thursday, December 19th. Wells Fargo & Company upped their target price on LPL Financial from $390.00 to $405.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Citigroup dropped their target price on LPL Financial from $415.00 to $400.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. JMP Securities reaffirmed a “market outperform” rating and issued a $435.00 price objective on shares of LPL Financial in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. boosted their target price 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. One research analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, LPL Financial currently has an average rating of “Moderate Buy” and an average target price of $380.42.

LPL Financial Stock Performance

LPL Financial stock opened at $283.31 on Monday. The company has a market cap of $21.13 billion, a PE ratio of 20.18, a P/E/G ratio of 0.94 and a beta of 0.64. LPL Financial Holdings Inc. has a 12 month low of $187.19 and a 12 month high of $384.04. The company has a fifty day moving average price of $348.34 and a two-hundred day moving average price of $316.43. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data 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%. Research analysts expect that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Dividend Announcement

The business also recently declared 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 dividend yield of 0.42%. The ex-dividend date of this dividend was Tuesday, March 11th. LPL Financial’s dividend payout ratio (DPR) is 8.55%.

Insider Activity at LPL Financial

In other news, CFO Matthew J. Audette sold 4,588 shares of LPL Financial stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $5,954,837.66. The trade was a 21.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Marc Eliot Cohen sold 1,100 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were 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 in the company, valued at approximately $1,490,838.75. This represents a 21.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,465 shares of company stock worth $12,562,070 in the last 90 days. 1.30% of the stock is currently owned by company insiders.

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.