Envestnet Asset Management Inc. Buys 17,254 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Envestnet Asset Management Inc. raised its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 5.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 333,924 shares of the financial services provider’s stock after acquiring an additional 17,254 shares during the period. Envestnet Asset Management Inc. owned about 0.45% of LPL Financial worth $109,030,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Wealth Alliance lifted its position in shares of LPL Financial by 2.1% during the fourth quarter. Wealth Alliance now owns 1,483 shares of the financial services provider’s stock valued at $484,000 after purchasing an additional 30 shares in the last quarter. Sanchez Wealth Management Group increased its stake in LPL Financial by 2.1% in the 4th quarter. Sanchez Wealth Management Group now owns 1,686 shares of the financial services provider’s stock valued at $551,000 after buying an additional 35 shares during the last quarter. Mather Group LLC. lifted its position in shares of LPL Financial by 4.1% during the 4th quarter. Mather Group LLC. now owns 916 shares of the financial services provider’s stock worth $299,000 after buying an additional 36 shares in the last quarter. Tyler Stone Wealth Management boosted its stake in shares of LPL Financial by 3.7% in the 4th quarter. Tyler Stone Wealth Management now owns 1,076 shares of the financial services provider’s stock worth $351,000 after buying an additional 38 shares during the last quarter. Finally, Signaturefd LLC grew its holdings in shares of LPL Financial by 3.1% in the fourth quarter. Signaturefd LLC now owns 1,352 shares of the financial services provider’s stock valued at $441,000 after acquiring an additional 41 shares in the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.

LPL Financial Trading Up 1.6 %

Shares of LPLA stock opened at $287.86 on Tuesday. The stock has a market capitalization of $21.47 billion, a price-to-earnings ratio of 20.50, a PEG ratio of 0.94 and a beta of 0.64. The company’s fifty day simple moving average is $347.04 and its two-hundred day simple moving average is $316.90. LPL Financial Holdings Inc. has a 1 year low of $187.19 and a 1 year high of $384.04. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data on Thursday, January 30th. The financial services provider reported $4.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.01 by $0.24. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. As a group, analysts anticipate that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th were given a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.42%. LPL Financial’s dividend payout ratio (DPR) is currently 8.55%.

Analysts Set New Price Targets

A number of analysts recently commented on LPLA shares. TD Cowen upgraded LPL Financial from a “hold” rating to a “buy” rating and lifted their price target for the stock from $277.00 to $413.00 in a report on Thursday, December 19th. JMP Securities reissued a “market outperform” rating and issued a $435.00 price target on shares of LPL Financial in a report on Friday, January 31st. Morgan Stanley raised their price objective on shares of LPL Financial from $379.00 to $413.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. JPMorgan Chase & Co. lifted their price objective on shares of LPL Financial from $397.00 to $405.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, StockNews.com downgraded shares of LPL Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, March 26th. One investment analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, LPL Financial presently has an average rating of “Moderate Buy” and a consensus price target of $376.33.

Insider Activity at LPL Financial

In related news, Director Marc Eliot Cohen sold 1,100 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $365.85, for a total transaction of $402,435.00. Following the completion of the transaction, the director now directly owns 4,075 shares in the company, valued at $1,490,838.75. The trade was a 21.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Matthew J. Audette sold 28,777 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $365.14, for a total value of $10,507,633.78. Following the completion of the transaction, the chief financial officer now owns 13,663 shares in the company, valued at $4,988,907.82. This represents a 67.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,465 shares of company stock valued at $12,562,070. Corporate insiders own 1.30% of the company’s stock.

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.