Twinbeech Capital LP Purchases 3,365 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Twinbeech Capital LP raised its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 26.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 16,217 shares of the financial services provider’s stock after acquiring an additional 3,365 shares during the period. Twinbeech Capital LP’s holdings in LPL Financial were worth $5,295,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. JPMorgan Chase & Co. lifted its holdings in shares of LPL Financial by 27.6% during the third quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider’s stock valued at $296,635,000 after purchasing an additional 276,166 shares during the last quarter. Merit Financial Group LLC lifted its holdings in shares of LPL Financial by 4.6% during the fourth quarter. Merit Financial Group LLC now owns 1,132 shares of the financial services provider’s stock valued at $370,000 after purchasing an additional 50 shares during the last quarter. Arkadios Wealth Advisors purchased a new position in shares of LPL Financial during the fourth quarter valued at approximately $277,000. HB Wealth Management LLC lifted its holdings in shares of LPL Financial by 34.0% during the fourth quarter. HB Wealth Management LLC now owns 1,304 shares of the financial services provider’s stock valued at $426,000 after purchasing an additional 331 shares during the last quarter. Finally, UMB Bank n.a. lifted its holdings in shares of LPL Financial by 9,865.1% during the fourth quarter. UMB Bank n.a. now owns 14,848 shares of the financial services provider’s stock valued at $4,848,000 after purchasing an additional 14,699 shares during the last quarter. 95.66% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Marc Eliot Cohen sold 1,100 shares of the business’s stock in a transaction 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 owns 4,075 shares of the company’s stock, valued at $1,490,838.75. The trade was a 21.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Matthew J. Audette sold 4,588 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $360.07, for a total transaction of $1,652,001.16. Following the sale, the chief financial officer now directly owns 16,538 shares of the company’s stock, valued at approximately $5,954,837.66. The trade was a 21.72% decrease in their position. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by insiders.

LPL Financial Price Performance

Shares of NASDAQ LPLA opened at $384.20 on Wednesday. LPL Financial Holdings Inc. has a twelve month low of $187.19 and a twelve month high of $390.23. The firm has a market cap of $30.73 billion, a P/E ratio of 27.36, a PEG ratio of 0.94 and a beta of 0.65. The company has a 50 day moving average of $328.88 and a 200 day moving average of $334.94. 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 (NASDAQ:LPLA) last posted its earnings results on Thursday, May 8th. The financial services provider reported $5.15 EPS for the quarter, topping analysts’ consensus estimates of $4.54 by $0.61. LPL Financial had a net margin of 8.55% and a return on equity of 49.41%. The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.63 billion. During the same quarter in the previous year, the firm posted $3.83 EPS. The firm’s revenue was up 4.5% on a year-over-year basis. As a group, research analysts expect that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 30th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date of this dividend is Friday, May 30th. LPL Financial’s dividend payout ratio (DPR) is presently 8.30%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Citigroup lowered their target price on shares of LPL Financial from $415.00 to $400.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Morgan Stanley lifted their target price on shares of LPL Financial from $379.00 to $413.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Keefe, Bruyette & Woods lifted their target price on shares of LPL Financial from $390.00 to $405.00 and gave the company an “outperform” rating in a report on Friday, January 31st. StockNews.com lowered shares of LPL Financial from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. boosted their price objective on shares of LPL Financial from $397.00 to $405.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. One analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, LPL Financial presently has a consensus rating of “Moderate Buy” and an average target price of $374.42.

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.