Waddell & Associates LLC Buys Shares of 746 LPL Financial Holdings Inc. (NASDAQ:LPLA)

Waddell & Associates LLC purchased a new stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) in the 4th quarter, Holdings Channel reports. The firm purchased 746 shares of the financial services provider’s stock, valued at approximately $244,000.

Other large investors have also made changes to their positions in the company. Graney & King LLC bought a new stake in shares of LPL Financial during the fourth quarter worth $30,000. Jones Financial Companies Lllp raised its stake in LPL Financial by 45.3% in the fourth quarter. Jones Financial Companies Lllp now owns 138 shares of the financial services provider’s stock valued at $45,000 after buying an additional 43 shares during the period. Atala Financial Inc acquired a new stake in LPL Financial during the 4th quarter valued at $59,000. Compass Financial Services Inc acquired a new stake in shares of LPL Financial during the 4th quarter worth about $65,000. Finally, R Squared Ltd bought a new stake in shares of LPL Financial during the fourth quarter worth approximately $78,000. Institutional investors own 95.66% of the company’s stock.

LPL Financial Price Performance

Shares of NASDAQ LPLA opened at $286.89 on Wednesday. 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 stock has a fifty day simple moving average of $344.11 and a two-hundred day simple moving average of $317.19. LPL Financial Holdings Inc. has a 1-year low of $187.19 and a 1-year high of $384.04. The firm has a market cap of $21.40 billion, a price-to-earnings ratio of 20.43, a price-to-earnings-growth ratio of 0.94 and a beta of 0.64.

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

LPL Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.42%. The ex-dividend date was Tuesday, March 11th. LPL Financial’s dividend payout ratio is presently 8.55%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on LPLA shares. Keefe, Bruyette & Woods increased their price objective on LPL Financial from $390.00 to $405.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. TD Cowen raised shares of LPL Financial from a “hold” rating to a “buy” rating and raised their price target for the stock from $277.00 to $413.00 in a research report on Thursday, December 19th. StockNews.com downgraded shares of LPL Financial from a “hold” rating to a “sell” rating in a report on Wednesday, March 26th. Barclays dropped their price target on shares of LPL Financial from $414.00 to $365.00 and set an “overweight” rating for the company in a research report on Monday. Finally, Citigroup lowered their price objective on LPL Financial from $415.00 to $400.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $369.83.

Insider Buying and Selling at LPL Financial

In other LPL Financial news, CFO Matthew J. Audette sold 28,777 shares of the firm’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 sale, the chief financial officer now owns 13,663 shares of the company’s stock, valued at $4,988,907.82. This trade represents a 67.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Marc Eliot Cohen sold 1,100 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were 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 $1,490,838.75. This represents a 21.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,465 shares of company stock valued at $12,562,070 in the last three months. 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.