692 Shares in LPL Financial Holdings Inc. (NASDAQ:LPLA) Acquired by Jacobi Capital Management LLC

Jacobi Capital Management LLC purchased a new position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 692 shares of the financial services provider’s stock, valued at approximately $226,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new position in LPL Financial during the 3rd quarter worth approximately $31,000. Brooklyn Investment Group acquired a new position in LPL Financial during the 3rd quarter worth approximately $43,000. Compass Financial Services Inc acquired a new position in LPL Financial during the 4th quarter worth approximately $65,000. R Squared Ltd acquired a new position in LPL Financial during the 4th quarter worth approximately $78,000. Finally, Ameliora Wealth Management Ltd. acquired a new position in shares of LPL Financial in the 4th quarter valued at approximately $108,000. 95.66% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Marc Eliot Cohen sold 1,100 shares of the company’s stock in a transaction on 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 transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Matthew J. Audette sold 28,777 shares of the stock in a transaction on 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 completion of the transaction, the chief financial officer now directly owns 13,663 shares of the company’s stock, valued at approximately $4,988,907.82. The trade was a 67.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,770 shares of company stock worth $12,663,312 in the last three months. 1.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. upped their target price on LPL Financial from $397.00 to $405.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Citigroup upped their target price on LPL Financial from $310.00 to $385.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Keefe, Bruyette & Woods upped their target price on LPL Financial from $390.00 to $405.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. JMP Securities reaffirmed a “market outperform” rating and issued a $435.00 target price on shares of LPL Financial in a research report on Friday, January 31st. Finally, TD Cowen raised LPL Financial from a “hold” rating to a “buy” rating and upped their target price for the company from $277.00 to $413.00 in a research report on Thursday, December 19th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $379.17.

LPL Financial Stock Performance

LPLA stock opened at $358.86 on Tuesday. 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 firm has a market cap of $26.76 billion, a P/E ratio of 25.56, a P/E/G ratio of 0.94 and a beta of 0.87. LPL Financial Holdings Inc. has a 12-month low of $187.19 and a 12-month high of $384.04. The stock’s 50 day simple moving average is $352.80 and its 200 day simple moving average is $296.76.

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

LPL Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $1.20 dividend on an annualized basis and a yield of 0.33%. LPL Financial’s payout ratio is currently 8.55%.

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.