Cinctive Capital Management LP Acquires 17,967 Shares of LPL Financial Holdings Inc. $LPLA

Cinctive Capital Management LP increased its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 195.0% during the third quarter, HoldingsChannel reports. The fund owned 27,180 shares of the financial services provider’s stock after acquiring an additional 17,967 shares during the quarter. Cinctive Capital Management LP’s holdings in LPL Financial were worth $9,043,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Capital World Investors boosted its stake in LPL Financial by 15,960.1% during the 3rd quarter. Capital World Investors now owns 2,628,551 shares of the financial services provider’s stock valued at $874,493,000 after purchasing an additional 2,612,184 shares during the last quarter. Dodge & Cox raised its stake in shares of LPL Financial by 77.3% in the second quarter. Dodge & Cox now owns 2,701,709 shares of the financial services provider’s stock worth $1,013,060,000 after purchasing an additional 1,178,249 shares during the last quarter. Norges Bank purchased a new stake in shares of LPL Financial in the second quarter worth approximately $402,312,000. Massachusetts Financial Services Co. MA lifted its holdings in shares of LPL Financial by 61.1% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,442,182 shares of the financial services provider’s stock valued at $915,745,000 after purchasing an additional 926,122 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of LPL Financial by 8.3% in the second quarter. Vanguard Group Inc. now owns 7,986,766 shares of the financial services provider’s stock valued at $2,994,798,000 after purchasing an additional 613,909 shares in the last quarter. Institutional investors own 95.66% of the company’s stock.

LPL Financial Stock Performance

Shares of LPL Financial stock opened at $289.03 on Friday. The business’s fifty day simple moving average is $345.43 and its 200 day simple moving average is $349.59. The firm has a market capitalization of $23.15 billion, a P/E ratio of 26.25, a price-to-earnings-growth ratio of 0.64 and a beta of 0.59. LPL Financial Holdings Inc. has a 12 month low of $262.83 and a 12 month high of $403.58. The company has a current ratio of 2.45, a quick ratio of 2.45 and a debt-to-equity ratio of 1.36.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Thursday, January 29th. The financial services provider reported $5.23 earnings per share for the quarter, topping the consensus estimate of $4.82 by $0.41. LPL Financial had a return on equity of 34.19% and a net margin of 5.08%.The business had revenue of $4.93 billion for the quarter, compared to analysts’ expectations of $4.90 billion. During the same quarter in the previous year, the firm earned $4.25 earnings per share. The business’s revenue was up 8.4% on a year-over-year basis. As a group, analysts anticipate that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 24th. Investors of record on Tuesday, March 10th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Tuesday, March 10th. LPL Financial’s payout ratio is 10.90%.

Analyst Ratings Changes

Several brokerages recently issued reports on LPLA. Wolfe Research set a $478.00 price target on LPL Financial in a report on Friday, January 30th. UBS Group set a $500.00 price objective on LPL Financial in a research note on Tuesday, February 3rd. JPMorgan Chase & Co. lifted their price objective on shares of LPL Financial from $433.00 to $439.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Barclays reduced their target price on shares of LPL Financial from $444.00 to $434.00 and set an “overweight” rating for the company in a research note on Friday, January 30th. Finally, Citigroup reiterated a “market outperform” rating on shares of LPL Financial in a report on Tuesday, February 3rd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $428.71.

Insider Activity at LPL Financial

In other LPL Financial news, Director Matthew Enyedi sold 2,109 shares of LPL Financial stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $320.15, for a total value of $675,196.35. Following the sale, the director owned 14,121 shares of the company’s stock, valued at approximately $4,520,838.15. The trade was a 12.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Matthew J. Audette sold 1,581 shares of the business’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $320.50, for a total transaction of $506,710.50. Following the completion of the transaction, the chief financial officer owned 21,382 shares in the company, valued at approximately $6,852,931. The trade was a 6.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 6,990 shares of company stock worth $2,201,837. 1.30% of the stock is owned by company insiders.

LPL Financial Profile

LPL Financial (NASDAQ: LPLA) is a U.S.-focused financial services firm that provides brokerage, custodial and advisory platforms to independent financial advisors, registered investment advisers and institutions. Operating primarily as an independent broker-dealer and custodian, the company supports a network of advisors with the operational, compliance and clearing infrastructure needed to manage client accounts and deliver investment advice outside of traditional wirehouse models.

The firm’s product and service offerings include trade execution and clearing, custody services, retirement plan services, model portfolio and advisory platforms, wealth management technology, investment research and product access across equities, fixed income, mutual funds, exchange-traded funds and insurance and annuity solutions.