Cinctive Capital Management LP Has $22.43 Million Stock Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Cinctive Capital Management LP raised its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 109.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 68,701 shares of the financial services provider’s stock after buying an additional 35,843 shares during the quarter. LPL Financial comprises approximately 1.1% of Cinctive Capital Management LP’s investment portfolio, making the stock its 12th biggest holding. Cinctive Capital Management LP owned 0.09% of LPL Financial worth $22,432,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in LPLA. Norges Bank acquired a new position in LPL Financial in the 4th quarter worth $305,747,000. Raymond James Financial Inc. bought a new position in shares of LPL Financial during the fourth quarter worth about $295,982,000. Boston Partners lifted its stake in LPL Financial by 26.0% in the 4th quarter. Boston Partners now owns 3,905,541 shares of the financial services provider’s stock valued at $1,278,454,000 after acquiring an additional 805,637 shares in the last quarter. Artisan Partners Limited Partnership bought a new position in shares of LPL Financial during the 4th quarter worth approximately $136,440,000. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of LPL Financial by 57.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,115,708 shares of the financial services provider’s stock valued at $364,290,000 after purchasing an additional 405,341 shares during the last quarter. Institutional investors own 95.66% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on LPLA shares. StockNews.com cut shares of LPL Financial from a “hold” rating to a “sell” rating in a report on Wednesday, March 26th. Wells Fargo & Company lifted their target price on LPL Financial from $390.00 to $405.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Morgan Stanley increased their price target on LPL Financial from $379.00 to $413.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. UBS Group upped their price objective on LPL Financial from $390.00 to $420.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. raised their target price on shares of LPL Financial from $397.00 to $405.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Two research analysts have rated the stock with a sell rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, LPL Financial presently has a consensus rating of “Moderate Buy” and an average target price of $379.17.

LPL Financial Stock Up 2.3 %

LPLA stock opened at $334.82 on Wednesday. The company has a market cap of $24.97 billion, a PE ratio of 23.85, a price-to-earnings-growth ratio of 0.94 and a beta of 0.82. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60. LPL Financial Holdings Inc. has a 52 week low of $187.19 and a 52 week high of $384.04. The business has a 50-day simple moving average of $351.17 and a 200 day simple moving average of $314.29.

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

LPL Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th were issued a $0.30 dividend. The ex-dividend date was Tuesday, March 11th. This represents a $1.20 dividend on an annualized basis and a yield of 0.36%. LPL Financial’s dividend payout ratio (DPR) is presently 8.55%.

Insider Buying and Selling

In other LPL Financial news, Director Marc Eliot Cohen sold 1,100 shares of the 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 sale, the director now directly owns 4,075 shares in the company, valued at approximately $1,490,838.75. This trade represents a 21.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Matthew J. Audette sold 4,588 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $360.07, for a total value of $1,652,001.16. Following the completion of the transaction, the chief financial officer now directly owns 16,538 shares in the company, valued at $5,954,837.66. This represents a 21.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,465 shares of company stock worth $12,562,070 in the last ninety days. Company insiders own 1.30% of the company’s stock.

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.