1,366 Shares in LPL Financial Holdings Inc. (NASDAQ:LPLA) Bought by Legacy Financial Group LLC

Legacy Financial Group LLC purchased a new position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,366 shares of the financial services provider’s stock, valued at approximately $446,000.

Several other institutional investors have also bought and sold shares of LPLA. FMR LLC grew its holdings in LPL Financial by 24.4% during the third quarter. FMR LLC now owns 3,322,571 shares of the financial services provider’s stock worth $772,930,000 after buying an additional 650,675 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in 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 worth $296,635,000 after buying an additional 276,166 shares in the last quarter. Southpoint Capital Advisors LP grew its holdings in LPL Financial by 50.0% during 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. grew its stake in LPL Financial by 82.0% in the 3rd quarter. Maverick Capital Ltd. now owns 497,075 shares of the financial services provider’s stock valued at $115,635,000 after purchasing an additional 223,931 shares during the period. Finally, Azora Capital LP grew its stake in LPL Financial by 52.2% in the 3rd quarter. Azora Capital LP now owns 643,544 shares of the financial services provider’s stock valued at $149,708,000 after purchasing an additional 220,622 shares during the period. Institutional investors own 95.66% of the company’s stock.

LPL Financial Stock Performance

LPL Financial stock opened at $360.29 on Monday. The firm’s 50 day simple moving average is $331.55 and its 200 day simple moving average is $270.57. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. The firm has a market capitalization of $26.98 billion, a PE ratio of 27.09, a price-to-earnings-growth ratio of 1.09 and a beta of 0.87. LPL Financial Holdings Inc. has a 1-year low of $187.19 and a 1-year high of $361.63.

LPL Financial (NASDAQ:LPLA) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share for the quarter, topping analysts’ consensus estimates of $3.69 by $0.47. The business had revenue of $3.11 billion for the quarter, compared to analyst estimates of $3.04 billion. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. LPL Financial’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.74 EPS. As a group, analysts expect that LPL Financial Holdings Inc. will post 16.17 earnings per share for the current fiscal year.

Insider Transactions at LPL Financial

In other news, Director Aneri Jambusaria sold 305 shares of the stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $331.94, for a total value of $101,241.70. Following the transaction, the director now owns 3,920 shares of the company’s stock, valued at $1,301,204.80. This represents a 7.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on LPLA. Keefe, Bruyette & Woods upped their price objective on LPL Financial from $325.00 to $390.00 and gave the company an “outperform” rating in a research note on Friday, December 20th. UBS Group upgraded LPL Financial from a “neutral” rating to a “buy” rating and set a $390.00 price objective for the company in a research note on Monday, January 6th. Barclays upped their price objective on LPL Financial from $378.00 to $379.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. The Goldman Sachs Group upped their price target on LPL Financial from $271.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, TD Cowen raised LPL Financial from a “hold” rating to a “buy” rating and upped their price target for the company from $277.00 to $413.00 in a research report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $351.50.

LPL Financial Company 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.