ExodusPoint Capital Management LP Purchases 70,940 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

ExodusPoint Capital Management LP increased its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 109.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 135,475 shares of the financial services provider’s stock after buying an additional 70,940 shares during the quarter. ExodusPoint Capital Management LP’s holdings in LPL Financial were worth $44,234,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Graney & King LLC purchased a new position in shares of LPL Financial during the fourth quarter worth approximately $30,000. Jones Financial Companies Lllp grew its holdings in shares of LPL Financial by 45.3% during the 4th quarter. Jones Financial Companies Lllp now owns 138 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 43 shares during the last quarter. Atala Financial Inc purchased a new position in LPL Financial in the 4th quarter worth $59,000. Compass Financial Services Inc bought a new stake in LPL Financial in the fourth quarter worth $65,000. Finally, R Squared Ltd purchased a new stake in LPL Financial during the fourth quarter valued at about $78,000. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Insiders Place Their Bets

In other LPL Financial news, Director Marc Eliot Cohen sold 1,100 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $365.85, for a total value of $402,435.00. Following the sale, the director now owns 4,075 shares in the company, valued at approximately $1,490,838.75. This represents a 21.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Matthew J. Audette sold 4,588 shares of LPL Financial stock in a transaction that occurred 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 transaction, the chief financial officer now owns 16,538 shares of the company’s stock, valued at $5,954,837.66. The trade was a 21.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,465 shares of company stock worth $12,562,070. 1.30% of the stock is owned by corporate insiders.

LPL Financial Trading Up 1.1 %

Shares of LPLA opened at $338.40 on Thursday. LPL Financial Holdings Inc. has a 1-year low of $187.19 and a 1-year high of $384.04. 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’s 50-day moving average price is $350.80 and its 200-day moving average price is $314.46. The firm has a market capitalization of $25.24 billion, a price-to-earnings ratio of 24.10, a PEG ratio of 0.94 and a beta of 0.82.

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

LPL Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th were paid a $0.30 dividend. The ex-dividend date was Tuesday, March 11th. This represents a $1.20 annualized dividend and a yield of 0.35%. LPL Financial’s payout ratio is 8.55%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on LPLA shares. StockNews.com downgraded LPL Financial from a “hold” rating to a “sell” rating in a report on Wednesday, March 26th. Barclays lifted their price target on LPL Financial from $389.00 to $414.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Morgan Stanley increased their price objective on LPL Financial from $379.00 to $413.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. TD Cowen raised shares of LPL Financial from a “hold” rating to a “buy” rating and lifted their target price for the stock from $277.00 to $413.00 in a research note on Thursday, December 19th. Finally, Wells Fargo & Company increased their price target on shares of LPL Financial from $390.00 to $405.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Two investment analysts have rated the stock with a sell rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $380.42.

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.