Donoghue Forlines LLC Invests $2.11 Million in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Donoghue Forlines LLC acquired a new stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,463 shares of the financial services provider’s stock, valued at approximately $2,110,000. LPL Financial accounts for about 0.7% of Donoghue Forlines LLC’s holdings, making the stock its 17th largest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Avior Wealth Management LLC boosted its holdings in shares of LPL Financial by 2.6% during the fourth quarter. Avior Wealth Management LLC now owns 2,479 shares of the financial services provider’s stock worth $809,000 after purchasing an additional 63 shares during the last quarter. Dakota Wealth Management purchased a new position in LPL Financial during the fourth quarter worth about $322,000. Nisa Investment Advisors LLC lifted its position in LPL Financial by 168.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,178 shares of the financial services provider’s stock worth $711,000 after buying an additional 1,368 shares during the period. ZWJ Investment Counsel Inc. acquired a new stake in LPL Financial in the 4th quarter worth about $260,000. Finally, Koshinski Asset Management Inc. purchased a new stake in LPL Financial in the 4th quarter valued at about $253,000. 95.66% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at LPL Financial

In other news, Director Aneri Jambusaria sold 305 shares of the stock in a transaction on 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 transaction, the director now 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.30% of the stock is currently owned by insiders.

LPL Financial Trading Up 0.1 %

Shares of LPLA opened at $357.23 on Thursday. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. LPL Financial Holdings Inc. has a one year low of $187.19 and a one year high of $361.63. The stock has a 50-day moving average price of $329.74 and a 200 day moving average price of $269.38. The company has a market capitalization of $26.75 billion, a P/E ratio of 26.88, a P/E/G ratio of 1.08 and a beta of 0.87.

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

LPL Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th were given a $0.30 dividend. The ex-dividend date was Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.34%. LPL Financial’s payout ratio is currently 9.02%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on LPLA shares. Wells Fargo & Company boosted their target price on shares of LPL Financial from $310.00 to $390.00 and gave the company an “overweight” rating in a report on Thursday, December 12th. TD Cowen upgraded LPL Financial from a “hold” rating to a “buy” rating and upped their price objective for the stock from $277.00 to $413.00 in a report on Thursday, December 19th. Jefferies Financial Group lowered their price target 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. Citigroup raised their price objective on LPL Financial from $310.00 to $385.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Finally, Barclays increased their target price on shares of LPL Financial from $378.00 to $379.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. One analyst has rated the stock with a sell rating, one has given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, LPL Financial presently has a consensus rating of “Moderate Buy” and an average 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.