King Luther Capital Management Corp Boosts Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

King Luther Capital Management Corp grew its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 4.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,538 shares of the financial services provider’s stock after purchasing an additional 219 shares during the quarter. King Luther Capital Management Corp’s holdings in LPL Financial were worth $1,261,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of LPLA. Norges Bank acquired a new stake in shares of LPL Financial during the fourth quarter worth about $200,497,000. Massachusetts Financial Services Co. MA increased its position in LPL Financial by 1,732.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 568,292 shares of the financial services provider’s stock worth $135,055,000 after buying an additional 537,272 shares during the period. Canada Pension Plan Investment Board lifted its stake in LPL Financial by 358.2% in the third quarter. Canada Pension Plan Investment Board now owns 456,990 shares of the financial services provider’s stock valued at $108,604,000 after buying an additional 357,245 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of LPL Financial by 524.9% in the third quarter. Ameriprise Financial Inc. now owns 273,140 shares of the financial services provider’s stock valued at $64,912,000 after acquiring an additional 229,434 shares during the period. Finally, HM Payson & Co. acquired a new stake in shares of LPL Financial in the third quarter valued at approximately $54,406,000. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on LPLA shares. Raymond James started coverage on shares of LPL Financial in a research report on Thursday, April 4th. They issued an “underperform” rating for the company. UBS Group upped their target price on shares of LPL Financial from $260.00 to $267.00 and gave the company a “neutral” rating in a report on Wednesday, February 14th. Barclays boosted their price target on LPL Financial from $302.00 to $312.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. JMP Securities reiterated a “market outperform” rating and issued a $305.00 target price on shares of LPL Financial in a research note on Wednesday, May 1st. Finally, JPMorgan Chase & Co. upped their price target on LPL Financial from $254.00 to $260.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $276.20.

Insider Buying and Selling

In other news, CFO Matthew J. Audette sold 5,574 shares of LPL Financial stock in a transaction on Monday, February 26th. The stock was sold at an average price of $266.52, for a total transaction of $1,485,582.48. Following the completion of the transaction, the chief financial officer now owns 13,663 shares of the company’s stock, valued at approximately $3,641,462.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Dan H. Arnold sold 34,807 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $266.54, for a total value of $9,277,457.78. Following the completion of the transaction, the chief executive officer now directly owns 141,810 shares of the company’s stock, valued at $37,798,037.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Matthew J. Audette sold 5,574 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $266.52, for a total value of $1,485,582.48. Following the completion of the sale, the chief financial officer now owns 13,663 shares in the company, valued at $3,641,462.76. The disclosure for this sale can be found here. Insiders have sold a total of 41,681 shares of company stock worth $11,109,490 in the last quarter. Company insiders own 1.30% of the company’s stock.

LPL Financial Price Performance

LPLA stock traded up $7.14 on Friday, reaching $281.63. 157,421 shares of the company’s stock were exchanged, compared to its average volume of 524,869. LPL Financial Holdings Inc. has a twelve month low of $190.13 and a twelve month high of $281.81. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 1.70. The stock has a fifty day moving average of $265.73 and a 200-day moving average of $247.64. The firm has a market cap of $21.04 billion, a PE ratio of 20.73, a P/E/G ratio of 1.09 and a beta of 0.83.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $4.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.77 by $0.44. The business had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.68 billion. LPL Financial had a net margin of 9.71% and a return on equity of 55.22%. As a group, equities analysts predict that LPL Financial Holdings Inc. will post 15.86 EPS for the current fiscal year.

LPL Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend is Monday, May 20th. LPL Financial’s dividend payout ratio (DPR) is 9.06%.

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.