2,734 Shares in LPL Financial Holdings Inc. $LPLA Acquired by Mangrove Partners IM LLC

Mangrove Partners IM LLC purchased a new position in LPL Financial Holdings Inc. (NASDAQ:LPLA) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 2,734 shares of the financial services provider’s stock, valued at approximately $977,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of LPLA. Capital World Investors increased its holdings in LPL Financial by 15,960.1% in the 3rd quarter. Capital World Investors now owns 2,628,551 shares of the financial services provider’s stock worth $874,493,000 after buying an additional 2,612,184 shares during the period. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in LPL Financial in the 4th quarter worth approximately $450,493,000. M&T Bank Corp increased its holdings in LPL Financial by 27,955.5% in the 4th quarter. M&T Bank Corp now owns 1,141,019 shares of the financial services provider’s stock worth $407,538,000 after buying an additional 1,136,952 shares during the period. Norges Bank acquired a new position in LPL Financial in the 4th quarter worth approximately $371,616,000. Finally, Dodge & Cox increased its holdings in LPL Financial by 23.2% in the 3rd quarter. Dodge & Cox now owns 3,329,255 shares of the financial services provider’s stock worth $1,107,610,000 after buying an additional 627,546 shares during the period. Institutional investors and hedge funds own 95.66% of the company’s stock.

Insider Transactions at LPL Financial

In related news, CFO Matthew J. Audette sold 1,110 shares of LPL Financial stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $330.01, for a total value of $366,311.10. Following the sale, the chief financial officer owned 19,803 shares of the company’s stock, valued at approximately $6,535,188.03. This trade represents a 5.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on LPLA. JPMorgan Chase & Co. cut their price target on shares of LPL Financial from $396.00 to $390.00 and set an “overweight” rating on the stock in a report on Friday, May 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of LPL Financial in a report on Monday, April 27th. Morgan Stanley dropped their price objective on shares of LPL Financial from $447.00 to $374.00 and set an “overweight” rating on the stock in a research note on Friday, April 10th. Keefe, Bruyette & Woods assumed coverage on shares of LPL Financial in a research note on Wednesday, April 8th. They set an “outperform” rating and a $350.00 price objective on the stock. Finally, William Blair reaffirmed an “outperform” rating on shares of LPL Financial in a research note on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, LPL Financial presently has a consensus rating of “Moderate Buy” and an average target price of $398.86.

LPL Financial Price Performance

Shares of NASDAQ LPLA opened at $303.30 on Wednesday. The stock has a market capitalization of $24.26 billion, a price-to-earnings ratio of 27.08, a PEG ratio of 0.61 and a beta of 0.50. LPL Financial Holdings Inc. has a 12 month low of $260.15 and a 12 month high of $403.58. The firm’s 50 day simple moving average is $302.05 and its 200-day simple moving average is $328.87. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.56 and a quick ratio of 2.56.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data on Thursday, April 30th. The financial services provider reported $5.60 EPS for the quarter, topping analysts’ consensus estimates of $5.49 by $0.11. The business had revenue of $4.94 billion for the quarter, compared to analysts’ expectations of $4.98 billion. LPL Financial had a net margin of 4.93% and a return on equity of 31.26%. The business’s revenue was up 34.6% on a year-over-year basis. During the same quarter last year, the company earned $5.15 EPS. Analysts expect that LPL Financial Holdings Inc. will post 22.98 EPS for the current year.

LPL Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 21st were paid a $0.30 dividend. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $1.20 dividend on an annualized basis and a yield of 0.4%. LPL Financial’s dividend payout ratio (DPR) is currently 10.71%.

LPL Financial Company 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.