Lifestyle Asset Management Inc. Takes $293,000 Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Lifestyle Asset Management Inc. acquired a new position in LPL Financial Holdings Inc. (NASDAQ:LPLA) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 898 shares of the financial services provider’s stock, valued at approximately $293,000.

A number of other institutional investors also recently modified their holdings of the business. FMR LLC lifted its holdings in LPL Financial by 24.4% during the 3rd quarter. FMR LLC now owns 3,322,571 shares of the financial services provider’s stock worth $772,930,000 after purchasing an additional 650,675 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of LPL Financial by 27.6% during the third quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider’s stock valued at $296,635,000 after buying an additional 276,166 shares during the period. Southpoint Capital Advisors LP lifted its holdings in shares of LPL Financial by 50.0% in the third quarter. Southpoint Capital Advisors LP now owns 750,000 shares of the financial services provider’s stock worth $174,472,000 after buying an additional 250,000 shares in the last quarter. Maverick Capital Ltd. boosted its position in shares of LPL Financial by 82.0% in the third quarter. Maverick Capital Ltd. now owns 497,075 shares of the financial services provider’s stock valued at $115,635,000 after acquiring an additional 223,931 shares during the period. Finally, Azora Capital LP grew its stake in LPL Financial by 52.2% during the third quarter. Azora Capital LP now owns 643,544 shares of the financial services provider’s stock valued at $149,708,000 after acquiring an additional 220,622 shares in the last quarter. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at LPL Financial

In other LPL Financial news, Director Aneri Jambusaria sold 305 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $331.94, for a total transaction of $101,241.70. Following the completion of the sale, the director now directly owns 3,920 shares of the company’s stock, valued at approximately $1,301,204.80. This represents a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Morgan Stanley lifted their target price on shares of LPL Financial from $303.00 to $309.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. UBS Group upgraded shares of LPL Financial from a “neutral” rating to a “buy” rating and set a $390.00 target price for the company in a research report on Monday, January 6th. Keefe, Bruyette & Woods increased their price objective on LPL Financial from $325.00 to $390.00 and gave the company an “outperform” rating in a research report on Friday, December 20th. Jefferies Financial Group dropped their target price on LPL Financial from $309.00 to $282.00 and set a “buy” rating for the company in a research report on Friday, October 4th. Finally, Barclays increased their price target on shares of LPL Financial from $378.00 to $379.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. One research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $351.50.

LPL Financial Trading Up 0.6 %

LPLA opened at $358.78 on Friday. LPL Financial Holdings Inc. has a 52 week low of $187.19 and a 52 week high of $361.63. The stock has a market cap of $26.87 billion, a PE ratio of 26.98, a PEG ratio of 1.09 and a beta of 0.87. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60. The business has a 50 day moving average of $329.74 and a 200-day moving average of $269.38.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share for the quarter, beating the consensus estimate of $3.69 by $0.47. LPL Financial had a return on equity of 49.47% and a net margin of 8.73%. The firm had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.04 billion. During the same period last year, the company earned $3.74 earnings per share. The company’s revenue was up 6.0% on a year-over-year basis. Equities research analysts predict that LPL Financial Holdings Inc. will post 16.17 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Thursday, November 14th were given a dividend of $0.30 per share. The ex-dividend date was Thursday, November 14th. This represents a $1.20 annualized dividend and a dividend yield of 0.33%. LPL Financial’s dividend payout ratio (DPR) is presently 9.02%.

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.