Retireful LLC Makes New Investment in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Retireful LLC purchased a new stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) in the fourth quarter, Holdings Channel reports. The institutional investor purchased 4,460 shares of the financial services provider’s stock, valued at approximately $1,456,000.

Other large investors also recently made changes to their positions in the company. Federated Hermes Inc. boosted its holdings in LPL Financial by 23.8% during the second quarter. Federated Hermes Inc. now owns 13,585 shares of the financial services provider’s stock worth $3,794,000 after buying an additional 2,616 shares in the last quarter. Oppenheimer Asset Management Inc. grew its holdings in shares of LPL Financial by 5.3% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,935 shares of the financial services provider’s stock worth $820,000 after acquiring an additional 148 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of LPL Financial by 8.3% during the second quarter. Dimensional Fund Advisors LP now owns 782,006 shares of the financial services provider’s stock worth $218,405,000 after purchasing an additional 59,819 shares during the period. Mutual of America Capital Management LLC purchased a new stake in shares of LPL Financial during the second quarter valued at $996,000. Finally, Vanguard Personalized Indexing Management LLC boosted its position in shares of LPL Financial by 0.9% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 7,875 shares of the financial services provider’s stock valued at $2,184,000 after purchasing an additional 74 shares during the period. Institutional investors own 95.66% of the company’s stock.

LPL Financial Price Performance

Shares of NASDAQ:LPLA opened at $346.21 on Friday. The business has a fifty day simple moving average of $326.88 and a 200 day simple moving average of $267.46. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. LPL Financial Holdings Inc. has a 1 year low of $187.19 and a 1 year high of $347.74. The firm has a market cap of $25.92 billion, a price-to-earnings ratio of 26.03, a P/E/G ratio of 1.03 and a beta of 0.87.

LPL Financial (NASDAQ:LPLA) last posted its quarterly 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 company had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.04 billion. LPL Financial had a return on equity of 49.47% and a net margin of 8.73%. The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period last year, the business earned $3.74 EPS. As a group, sell-side analysts predict that LPL Financial Holdings Inc. will post 16.07 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.35%. The ex-dividend date was Thursday, November 14th. LPL Financial’s dividend payout ratio is 9.02%.

Insider Transactions at LPL Financial

In other LPL Financial news, Director Aneri Jambusaria sold 305 shares of the business’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $331.94, for a total value of $101,241.70. Following the completion of the sale, the director now owns 3,920 shares of the company’s stock, valued at $1,301,204.80. The trade was a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Jefferies Financial Group cut their price objective on LPL Financial from $309.00 to $282.00 and set a “buy” rating on the stock in a report on Friday, October 4th. The Goldman Sachs Group boosted their price target on shares of LPL Financial from $271.00 to $305.00 and gave the company a “buy” rating in a report on Friday, November 1st. Wells Fargo & Company raised their price objective on shares of LPL Financial from $310.00 to $390.00 and gave the stock an “overweight” rating in a research note on Thursday, December 12th. TD Cowen upgraded shares of LPL Financial from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $277.00 to $413.00 in a research report on Thursday, December 19th. Finally, UBS Group upgraded LPL Financial from a “neutral” rating to a “buy” rating and set a $390.00 target price for the company in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $351.50.

About LPL Financial

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.